Truist Financial Boosts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $120.00

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

A number of other equities research analysts have also weighed in on CRSP. Chardan Capital reiterated a “buy” rating and set a $94.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, December 10th. HC Wainwright began coverage on shares of CRISPR Therapeutics in a report on Monday, February 3rd. They set a “buy” rating and a $65.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday. TD Cowen raised CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research report on Wednesday. Finally, Royal Bank of Canada reduced their target price on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, CRISPR Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $76.11.

CRISPR Therapeutics Price Performance

CRISPR Therapeutics stock traded up $2.85 during mid-day 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. The business has a 50 day moving average price of $42.45 and a 200-day moving average price of $46.40. CRISPR Therapeutics has a 12 month low of $36.52 and a 12 month high of $91.10. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -15.00 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. On average, equities research analysts expect that CRISPR Therapeutics will post -5.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $55.10, for a total transaction of $826,500.00. Following the transaction, the chief executive officer now owns 181,540 shares of the company’s stock, valued at $10,002,854. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.10% of the stock is currently owned by insiders.

Institutional Trading of CRISPR Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CRSP. Sanctuary Advisors LLC acquired a new stake in shares of CRISPR Therapeutics during the 2nd quarter worth approximately $381,000. Exchange Traded Concepts LLC increased its position in CRISPR Therapeutics by 22.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 19,192 shares of the company’s stock valued at $902,000 after acquiring an additional 3,563 shares during the period. Vontobel Holding Ltd. increased its position in CRISPR Therapeutics by 3.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 16,957 shares of the company’s stock valued at $797,000 after acquiring an additional 600 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in CRISPR Therapeutics by 56.4% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,617 shares of the company’s stock valued at $640,000 after acquiring an additional 4,909 shares during the period. Finally, nVerses Capital LLC acquired a new stake in CRISPR Therapeutics in the 3rd quarter valued at approximately $258,000. 69.20% of the stock is currently 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.