CRISPR Therapeutics (NASDAQ:CRSP) Given New $44.00 Price Target at Robert W. Baird

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective lowered by Robert W. Baird from $52.00 to $44.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential downside of 19.38% from the company’s current price.

A number of other brokerages also recently weighed in on CRSP. Bank of America raised their target price on shares of CRISPR Therapeutics from $78.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Wedbush dropped their price objective on shares of CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, September 23rd. Citigroup reissued a “market outperform” rating on shares of CRISPR Therapeutics in a research note on Tuesday. Finally, Wells Fargo & Company set a $75.00 price objective on CRISPR Therapeutics in a research report on Monday, October 13th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.11.

CRISPR Therapeutics Stock Down 1.0%

NASDAQ:CRSP opened at $54.58 on Tuesday. The stock has a market cap of $4.96 billion, a P/E ratio of -10.05 and a beta of 1.89. The business’s 50-day moving average price is $62.98 and its two-hundred day moving average price is $53.33. CRISPR Therapeutics has a twelve month low of $30.04 and a twelve month high of $78.48.

Insiders Place Their Bets

In related news, CEO Samarth Kulkarni sold 50,895 shares of the company’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $67.91, for a total value of $3,456,279.45. Following the completion of the transaction, the chief executive officer owned 254,201 shares of the company’s stock, valued at approximately $17,262,789.91. This represents a 16.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel James R. Kasinger sold 1,076 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total value of $71,661.60. Following the completion of the sale, the general counsel owned 83,402 shares of the company’s stock, valued at $5,554,573.20. The trade was a 1.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 56,213 shares of company stock valued at $3,810,458. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRSP. SVB Wealth LLC purchased a new position in CRISPR Therapeutics in the 1st quarter worth approximately $25,000. Costello Asset Management INC bought a new stake in shares of CRISPR Therapeutics during the first quarter valued at approximately $27,000. Atlantic Union Bankshares Corp purchased a new position in shares of CRISPR Therapeutics in the second quarter worth $33,000. Thompson Investment Management Inc. bought a new position in shares of CRISPR Therapeutics during the third quarter worth $33,000. Finally, Optiver Holding B.V. grew its stake in CRISPR Therapeutics by 71.4% during the third quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock valued at $33,000 after acquiring an additional 210 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

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.