Bank of America Lowers CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $85.00

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) had its price objective dropped by research analysts at Bank of America from $98.00 to $85.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price target indicates a potential upside of 102.77% from the stock's previous close.

A number of other equities analysts also recently commented on the company. Chardan Capital reiterated a "buy" rating and issued a $94.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. JMP Securities reiterated a "market outperform" rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Needham & Company LLC reissued a "buy" rating and issued a $84.00 target price on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. StockNews.com raised shares of CRISPR Therapeutics to a "sell" rating in a report on Monday, December 30th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $53.00 target price on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $78.38.

CRISPR Therapeutics Stock Down 1.2 %

Shares of CRISPR Therapeutics stock traded down $0.51 during trading hours on Tuesday, hitting $41.92. 1,521,741 shares of the company's stock traded hands, compared to its average volume of 1,764,954. The stock has a 50 day simple moving average of $46.77 and a 200-day simple moving average of $49.04. The company has a market cap of $3.58 billion, a PE ratio of -14.81 and a beta of 1.68. CRISPR Therapeutics has a twelve month low of $38.20 and a twelve month high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, topping analysts' consensus estimates of ($1.42) by $0.41. The business had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. During the same period last year, the firm earned ($1.41) earnings per share. As a group, equities research analysts predict that CRISPR Therapeutics will post -5.13 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $55.10, for a total value of $826,500.00. Following the transaction, the chief executive officer now owns 181,540 shares in the company, valued at approximately $10,002,854. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel James R. Kasinger sold 1,089 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the transaction, the general counsel now owns 62,597 shares in the company, valued at approximately $2,896,989.16. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,382 shares of company stock worth $2,744,179 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its position in CRISPR Therapeutics by 25.0% in the third quarter. State Street Corp now owns 2,992,988 shares of the company's stock worth $140,611,000 after buying an additional 599,304 shares during the last quarter. FMR LLC grew its position in CRISPR Therapeutics by 1.0% during the 3rd quarter. FMR LLC now owns 2,376,166 shares of the company's stock worth $111,632,000 after purchasing an additional 23,075 shares in the last quarter. Geode Capital Management LLC grew its position in CRISPR Therapeutics by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company's stock worth $47,383,000 after purchasing an additional 35,196 shares in the last quarter. Dimensional Fund Advisors LP grew its position in CRISPR Therapeutics by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 950,149 shares of the company's stock worth $51,326,000 after purchasing an additional 19,094 shares in the last quarter. Finally, Baker BROS. Advisors LP grew its position in CRISPR Therapeutics by 743.1% during the 3rd quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company's stock worth $39,608,000 after purchasing an additional 743,075 shares in the last quarter. Institutional investors and hedge funds own 69.20% of the company's stock.

About CRISPR Therapeutics

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.