Bank of America Issues Pessimistic Forecast for CRISPR Therapeutics (NASDAQ:CRSP) Stock Price

CRISPR Therapeutics (NASDAQ:CRSP) had its price target decreased by equities researchers at Bank of America from $98.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 105.86% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a report on Monday, December 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $53.00 price target on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Finally, Barclays decreased their price objective on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics presently has an average rating of “Hold” and a consensus price target of $78.38.

CRISPR Therapeutics Trading Down 1.5 %

NASDAQ CRSP opened at $41.29 on Tuesday. The company has a market cap of $3.52 billion, a P/E ratio of -14.59 and a beta of 1.68. The company has a fifty day simple moving average of $46.63 and a 200 day simple moving average of $48.94. CRISPR Therapeutics has a 12-month low of $38.20 and a 12-month high of $91.10.

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

Insider Buying and Selling

In related news, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction dated 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 directly owns 62,597 shares in the company, valued at $2,896,989.16. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Samarth Kulkarni sold 15,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.10, for a total value of $826,500.00. Following the completion of the transaction, the chief executive officer now owns 181,540 shares in the company, valued at $10,002,854. This represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,382 shares of company stock valued at $2,744,179. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital Market Strategies LLC bought a new position in shares of CRISPR Therapeutics in the 4th quarter worth $461,000. Capital Advisors Inc. OK grew its position in CRISPR Therapeutics by 8.1% in the third quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock worth $14,122,000 after acquiring an additional 22,583 shares in the last quarter. Geode Capital Management LLC increased its stake in CRISPR Therapeutics by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company’s stock valued at $47,383,000 after acquiring an additional 35,196 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new stake in CRISPR Therapeutics during the second quarter valued at about $2,375,000. Finally, State Street Corp lifted its stake in CRISPR Therapeutics by 25.0% during the third quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after purchasing an additional 599,304 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors.

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.