CRISPR Therapeutics (NASDAQ:CRSP) Upgraded by StockNews.com to Sell Rating

StockNews.com upgraded shares of CRISPR Therapeutics (NASDAQ:CRSP) to a sell rating in a research report report published on Tuesday morning.

Other equities research analysts have also recently issued research reports about the stock. Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a report on Thursday, August 8th. Needham & Company LLC cut their price objective on CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Chardan Capital reduced their price objective on CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Truist Financial cut their price target on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Royal Bank of Canada reduced their price target on shares of CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $75.19.

CRISPR Therapeutics Price Performance

Shares of NASDAQ:CRSP opened at $46.39 on Tuesday. CRISPR Therapeutics has a 1 year low of $39.76 and a 1 year high of $91.10. The company has a market cap of $3.94 billion, a P/E ratio of -17.06 and a beta of 1.68. The stock’s fifty day moving average price is $47.13 and its 200-day moving average price is $52.48.

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 the consensus estimate of ($1.43) by ($0.06). The business had revenue of $0.52 million for the quarter, compared to analyst estimates of $12.31 million. During the same quarter in the prior year, the company earned ($0.98) EPS. The business’s revenue for the quarter was down 99.3% on a year-over-year basis. On average, sell-side analysts anticipate that CRISPR Therapeutics will post -5.6 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nordea Investment Management AB increased its position in CRISPR Therapeutics by 40.8% in the first quarter. Nordea Investment Management AB now owns 148,700 shares of the company’s stock worth $10,305,000 after purchasing an additional 43,100 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of CRISPR Therapeutics by 451.3% in the 1st quarter. Cetera Investment Advisers now owns 34,100 shares of the company’s stock worth $2,324,000 after buying an additional 27,915 shares during the last quarter. CWM LLC raised its position in shares of CRISPR Therapeutics by 11,871.1% during the 2nd quarter. CWM LLC now owns 22,386 shares of the company’s stock valued at $1,209,000 after buying an additional 22,199 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of CRISPR Therapeutics in the 2nd quarter valued at about $2,375,000. Finally, Principal Financial Group Inc. purchased a new position in CRISPR Therapeutics in the first quarter worth about $2,758,000. 69.20% of the stock is currently owned by institutional investors.

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.