CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Up 11.2% – Still a Buy?

CRISPR Therapeutics AG (NASDAQ:CRSP) was up 11.2% during mid-day trading on Monday . The stock traded as high as $57.47 and last traded at $57.39. Approximately 889,301 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 1,451,765 shares. The stock had previously closed at $51.62.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Chardan Capital cut their price target on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Stifel Nicolaus reduced their price target on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a report on Thursday, August 8th. Barclays lowered their target price on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, Rodman & Renshaw began coverage on CRISPR Therapeutics in a research report on Friday, August 2nd. They issued a “buy” rating and a $90.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $74.94.

CRISPR Therapeutics Stock Performance

The stock has a market cap of $4.25 billion, a P/E ratio of -17.60 and a beta of 1.67. The business has a 50 day simple moving average of $47.70 and a 200-day simple moving average of $52.14.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.41. The business had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. During the same quarter last year, the company posted ($1.41) earnings per share. On average, sell-side analysts predict that CRISPR Therapeutics AG will post -5.2 earnings per share for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other news, General Counsel James R. Kasinger sold 1,089 shares of CRISPR Therapeutics stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel James R. Kasinger sold 1,089 shares of the business’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 sale, the general counsel now directly owns 62,597 shares in the company, valued at approximately $2,896,989.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.62, for a total value of $1,668,600.00. Following the completion of the transaction, the chief executive officer now owns 196,540 shares of the company’s stock, valued at approximately $10,931,554.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,382 shares of company stock worth $1,917,679. Company insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Trust Asset Management LLC increased its holdings in shares of CRISPR Therapeutics by 150.0% in the second quarter. Global Trust Asset Management LLC now owns 500 shares of the company’s stock worth $27,000 after purchasing an additional 300 shares during the period. Larson Financial Group LLC increased its stake in CRISPR Therapeutics by 95.5% in the 2nd quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock worth $31,000 after acquiring an additional 276 shares during the last quarter. GPS Wealth Strategies Group LLC raised its holdings in shares of CRISPR Therapeutics by 99.7% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company’s stock valued at $33,000 after acquiring an additional 307 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of CRISPR Therapeutics during the 2nd quarter valued at about $35,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of CRISPR Therapeutics during the third quarter worth about $43,000. 69.20% of the stock is currently owned by hedge funds and other 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.