CRISPR Therapeutics (NASDAQ:CRSP) Given New $120.00 Price Target at Truist Financial

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective lifted by research analysts at Truist Financial from $100.00 to $120.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 182.57% from the stock’s previous close.

A number of other equities analysts have also commented on CRSP. TD Cowen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a research note on Wednesday. HC Wainwright initiated coverage on CRISPR Therapeutics in a research note on Monday, February 3rd. They issued a “buy” rating and a $65.00 price objective on the stock. Bank of America dropped their price objective on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada dropped their price objective on CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, Barclays lifted their target price on CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $76.11.

CRISPR Therapeutics Stock Up 7.2 %

Shares of CRISPR Therapeutics stock traded up $2.85 during midday trading on Wednesday, hitting $42.47. The company’s stock had a trading volume of 2,729,531 shares, compared to its average volume of 1,963,113. CRISPR Therapeutics has a 1-year low of $36.52 and a 1-year high of $91.10. The stock has a 50-day simple moving average of $42.45 and a 200-day simple moving average of $46.40. The firm has a market capitalization of $3.62 billion, a P/E ratio of -15.00 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. As a group, sell-side analysts predict that CRISPR Therapeutics will post -5.08 earnings per share for the current year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $55.10, for a total value of $826,500.00. Following the transaction, the chief executive officer now directly owns 181,540 shares in the company, valued at approximately $10,002,854. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRSP. Wilmington Savings Fund Society FSB acquired a new stake in shares of CRISPR Therapeutics in the 3rd quarter valued at about $40,000. Darwin Wealth Management LLC bought a new position in CRISPR Therapeutics during the third quarter worth about $43,000. Highline Wealth Partners LLC bought a new stake in shares of CRISPR Therapeutics during the fourth quarter worth approximately $39,000. Western Pacific Wealth Management LP boosted its holdings in shares of CRISPR Therapeutics by 100.0% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after acquiring an additional 500 shares during the period. Finally, Eastern Bank bought a new stake in shares of CRISPR Therapeutics during the third quarter worth approximately $70,000. 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.