Royal Bank of Canada Trims CRISPR Therapeutics (NASDAQ:CRSP) Target Price to $53.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price cut by research analysts at Royal Bank of Canada from $60.00 to $53.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 16.82% from the company’s current price.

Several other equities research analysts also recently commented on CRSP. Truist Financial cut their target price on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Stifel Nicolaus reduced their price objective on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Chardan Capital decreased their price objective on CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC cut their target price on CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $75.19.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ:CRSP opened at $45.37 on Friday. CRISPR Therapeutics has a 52-week low of $37.55 and a 52-week high of $91.10. The company has a market capitalization of $3.85 billion, a PE ratio of -16.68 and a beta of 1.68. The company has a fifty day moving average of $48.17 and a 200-day moving average of $54.95.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Monday, August 5th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The business had revenue of $0.52 million during the quarter, compared to analyst estimates of $12.31 million. During the same period in the previous year, the firm posted ($0.98) earnings per share. The firm’s quarterly revenue was down 99.3% on a year-over-year basis. On average, equities analysts forecast that CRISPR Therapeutics will post -5.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in CRISPR Therapeutics by 27.8% during the first quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock worth $534,175,000 after buying an additional 1,702,624 shares during the last quarter. SR One Capital Management LP acquired a new stake in shares of CRISPR Therapeutics in the 1st quarter worth about $71,496,000. Farallon Capital Management LLC bought a new position in CRISPR Therapeutics in the 2nd quarter valued at about $28,625,000. Avoro Capital Advisors LLC acquired a new position in CRISPR Therapeutics during the 1st quarter valued at about $28,599,000. Finally, Marshall Wace LLP bought a new stake in CRISPR Therapeutics during the 2nd quarter worth approximately $10,078,000. 69.20% of the stock is owned by institutional investors and hedge funds.

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.