Why CRISPR Therapeutics Stock Is Falling

CRISPR Therapeutics AG CRSP shares are trading lower Wednesday after several analysts adjusted price targets on the stock following the company's Innovation Day.

CRISPR Therapeutics stock plunged Tuesday during its Innovation Day after the company signaled that it was shifting its focus from its multiple myeloma candidate CTX120, to the newly developed CTX121.

Piper Sandler analyst Edward Tenthoff maintained CRISPR Therapeutics with an Overweight rating and raised the price target from $115 to $121.

Stifel analyst Benjamin Burnett maintained CRISPR Therapeutics with a Hold rating and lowered the price target from $57 to $55.

Chardan Capital analyst Geulah Livshits maintained CRISPR Therapeutics with a Buy rating and lowered the price target from $168 to $164.

CRISPR Therapeutics is a gene editing company focused on the development of CRISPR/Cas9-based therapeutics.

See Also: So What's Going On With Moderna Shares Rising Today?

CRSP Price Action: CRISPR Therapeutics has traded between $169.76 and $42.51 over a 52-week period.

The stock was down 7.69% at $59.73 at press time, according to data from Benzinga Pro.

Photo: Arek Socha from Pixabay.