CRISPR Therapeutics (NASDAQ:CRSP) Price Target Cut to $65.00 by Analysts at Wells Fargo & Company

CRISPR Therapeutics (NASDAQ:CRSP - Free Report) had its target price decreased by Wells Fargo & Company from $70.00 to $65.00 in a research note published on Thursday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other analysts have also weighed in on the company. Morgan Stanley upped their target price on CRISPR Therapeutics from $46.00 to $48.00 and gave the company an underweight rating in a report on Monday, February 26th. Barclays dropped their target price on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an equal weight rating for the company in a report on Thursday. TheStreet raised shares of CRISPR Therapeutics from a d+ rating to a c rating in a report on Friday, February 23rd. Needham & Company LLC dropped their price objective on shares of CRISPR Therapeutics from $90.00 to $88.00 and set a buy rating for the company in a research note on Thursday. Finally, Wolfe Research initiated coverage on CRISPR Therapeutics in a research note on Thursday, February 15th. They issued a peer perform rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $73.73.

CRISPR Therapeutics Stock Up 0.5 %

Shares of CRISPR Therapeutics stock traded up $0.26 during trading on Thursday, reaching $53.55. The company's stock had a trading volume of 1,700,642 shares, compared to its average volume of 1,760,389. The business has a 50 day moving average price of $65.81 and a 200-day moving average price of $64.64. The company has a market capitalization of $4.55 billion, a P/E ratio of -27.14 and a beta of 1.80. CRISPR Therapeutics has a 12-month low of $37.55 and a 12-month high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The company had revenue of $0.50 million for the quarter, compared to analysts' expectations of $25.53 million. During the same period last year, the business earned ($0.67) EPS. The firm's revenue for the quarter was down 99.5% on a year-over-year basis. Research analysts predict that CRISPR Therapeutics will post -6.24 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel James R. Kasinger sold 1,913 shares of CRISPR Therapeutics stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the transaction, the general counsel now owns 57,371 shares in the company, valued at $4,570,747.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,913 shares of the business's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total transaction of $152,408.71. Following the transaction, the general counsel now owns 57,371 shares in the company, valued at $4,570,747.57. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 2,801 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $78.26, for a total value of $219,206.26. Following the completion of the sale, the general counsel now owns 60,070 shares of the company's stock, valued at approximately $4,701,078.20. The disclosure for this sale can be found here. Insiders sold 83,992 shares of company stock valued at $6,132,335 in the last ninety days. Company insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC increased its stake in shares of CRISPR Therapeutics by 194.7% in the third quarter. Jump Financial LLC now owns 33,307 shares of the company's stock worth $1,512,000 after buying an additional 22,006 shares during the last quarter. Invesco Ltd. raised its stake in shares of CRISPR Therapeutics by 1.5% in the 3rd quarter. Invesco Ltd. now owns 136,123 shares of the company's stock valued at $6,179,000 after purchasing an additional 2,061 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of CRISPR Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company's stock worth $534,360,000 after purchasing an additional 1,372,986 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new stake in CRISPR Therapeutics in the fourth quarter valued at about $206,000. Finally, Baker Chad R raised its stake in CRISPR Therapeutics by 89.1% during the fourth quarter. Baker Chad R now owns 98,520 shares of the company's stock valued at $6,167,000 after buying an additional 46,420 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company's stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.