CRISPR Therapeutics (NASDAQ:CRSP) Shares Up 7.2% – What’s Next?

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price rose 7.2% during mid-day trading on Friday . The stock traded as high as $49.75 and last traded at $49.74. Approximately 1,094,287 shares were traded during trading, a decline of 24% from the average daily volume of 1,442,206 shares. The stock had previously closed at $46.39.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRSP. Barclays dropped their target price on shares of CRISPR Therapeutics from $67.00 to $59.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a report on Thursday, August 8th. Royal Bank of Canada cut their price target on CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Stifel Nicolaus dropped their price objective on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Finally, Truist Financial cut their target price on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $75.19.

CRISPR Therapeutics Stock Up 9.4 %

The company has a 50 day simple moving average of $47.15 and a 200 day simple moving average of $52.35. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of -15.72 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Monday, August 5th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The company had revenue of $0.52 million for the quarter, compared to analysts’ expectations of $12.31 million. The business’s quarterly revenue was down 99.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.98) earnings per share. On average, research analysts forecast that CRISPR Therapeutics AG will post -5.57 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics 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 transaction, the general counsel now owns 62,597 shares in the company, valued at $2,896,989.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, General Counsel James R. Kasinger sold 1,089 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the transaction, the general counsel now directly owns 62,597 shares in the company, valued at approximately $2,896,989.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Samarth Kulkarni sold 4,293 shares of CRISPR Therapeutics stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $198,680.04. Following the sale, the chief executive officer now directly owns 226,540 shares in the company, valued at $10,484,271.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB raised its position in shares of CRISPR Therapeutics by 40.8% in the 1st quarter. Nordea Investment Management AB now owns 148,700 shares of the company’s stock valued at $10,305,000 after purchasing an additional 43,100 shares in the last quarter. Cetera Investment Advisers grew its holdings in CRISPR Therapeutics by 451.3% during the 1st quarter. Cetera Investment Advisers now owns 34,100 shares of the company’s stock worth $2,324,000 after acquiring an additional 27,915 shares in the last quarter. CWM LLC increased its position in shares of CRISPR Therapeutics by 11,871.1% in the 2nd quarter. CWM LLC now owns 22,386 shares of the company’s stock worth $1,209,000 after purchasing an additional 22,199 shares during the last quarter. Granite Bay Wealth Management LLC acquired a new stake in shares of CRISPR Therapeutics in the 2nd quarter valued at about $2,375,000. Finally, Vanguard Group Inc. lifted its position in shares of CRISPR Therapeutics by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 1,590,651 shares of the company’s stock worth $99,575,000 after purchasing an additional 51,926 shares during the last quarter. Hedge funds and other 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.