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

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

Analyst Upgrades and Downgrades

CRSP has been the topic of a number of recent research reports. Truist Financial lowered their price objective on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Stifel Nicolaus cut their price objective on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Chardan Capital dropped their target price on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Rodman & Renshaw assumed coverage on shares of CRISPR Therapeutics in a research report on Friday, August 2nd. They set a “buy” rating and a $90.00 price target on the stock. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.19.

CRISPR Therapeutics Stock Performance

The firm’s fifty day simple moving average is $47.11 and its 200-day simple moving average is $52.44. The stock has a market cap of $4.30 billion, a P/E ratio of -15.18 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Monday, August 5th. The company reported ($1.49) earnings per share 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 analyst estimates of $12.31 million. The firm’s revenue was down 99.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.98) earnings per share. Analysts predict that CRISPR Therapeutics AG will post -5.57 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 4,293 shares of the company’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 sale, the chief executive officer now owns 226,540 shares in the company, valued at $10,484,271.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 226,540 shares in the company, valued at $10,484,271.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the sale, the general counsel now owns 62,597 shares of the company’s stock, valued at $2,896,989.16. The trade was 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 owned by company insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CRSP. Riggs Asset Managment Co. Inc. grew its position in CRISPR Therapeutics by 66.7% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the period. SFE Investment Counsel increased its holdings in CRISPR Therapeutics by 3.6% during the 2nd quarter. SFE Investment Counsel now owns 5,846 shares of the company’s stock worth $316,000 after purchasing an additional 203 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of CRISPR Therapeutics by 4.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,606 shares of the company’s stock worth $249,000 after purchasing an additional 211 shares during the last quarter. Orion Capital Management LLC lifted its holdings in shares of CRISPR Therapeutics by 44.0% in the first quarter. Orion Capital Management LLC now owns 720 shares of the company’s stock valued at $49,000 after purchasing an additional 220 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of CRISPR Therapeutics by 35.0% during the second quarter. National Bank of Canada FI now owns 848 shares of the company’s stock valued at $46,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds 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.