CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Up 2.5% – Here’s What Happened

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price rose 2.5% on Wednesday . The stock traded as high as $45.68 and last traded at $45.62. Approximately 333,398 shares were traded during trading, a decline of 86% from the average daily volume of 2,364,255 shares. The stock had previously closed at $44.51.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Bank of America decreased their price target on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Evercore ISI upgraded shares of CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $99.00 in a report on Friday, February 14th. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Finally, Barclays lifted their price objective on CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.40.

CRISPR Therapeutics Stock Performance

The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -10.32 and a beta of 1.67. The stock’s 50-day simple moving average is $42.29 and its two-hundred day simple moving average is $46.00.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. As a group, research analysts predict that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Samarth Kulkarni sold 18,360 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total value of $1,013,472.00. Following the transaction, the chief executive officer now owns 171,613 shares in the company, valued at approximately $9,473,037.60. This represents a 9.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRSP. Wilmington Savings Fund Society FSB acquired a new position in shares of CRISPR Therapeutics in the 3rd quarter worth approximately $40,000. Ameriflex Group Inc. bought a new position in shares of CRISPR Therapeutics during the 4th quarter valued at approximately $36,000. Darwin Wealth Management LLC bought a new stake in shares of CRISPR Therapeutics in the third quarter valued at approximately $43,000. Highline Wealth Partners LLC bought a new position in CRISPR Therapeutics in the 4th quarter worth about $39,000. Finally, Western Pacific Wealth Management LP boosted its holdings in CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.