CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 0.5% – Here’s Why

CRISPR Therapeutics AG (NASDAQ:CRSP) shares fell 0.5% on Thursday . The company traded as low as $44.60 and last traded at $45.19. 135,605 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,465,718 shares. The stock had previously closed at $45.40.

Analyst Upgrades and Downgrades

CRSP has been the topic of several recent research reports. Rodman & Renshaw assumed coverage on shares of CRISPR Therapeutics in a report on Friday, August 2nd. They set a “buy” rating and a $90.00 target price on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a report on Thursday, August 8th. Barclays dropped their target price on CRISPR Therapeutics from $67.00 to $59.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada decreased their price target on CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, 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 note on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $75.19.

CRISPR Therapeutics Stock Performance

The firm has a market capitalization of $3.98 billion, a P/E ratio of -14.50 and a beta of 1.68. The firm has a 50-day moving average of $47.17 and a 200-day moving average of $54.14.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Monday, August 5th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The company had revenue of $0.52 million during the quarter, compared to the consensus estimate of $12.31 million. The business’s quarterly revenue was down 99.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.98) EPS. On average, research analysts forecast that CRISPR Therapeutics AG will post -5.6 EPS for the current fiscal year.

Institutional Investors Weigh In On CRISPR Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC lifted its holdings in shares of CRISPR Therapeutics by 150.0% during the 2nd quarter. Global Trust Asset Management LLC now owns 500 shares of the company’s stock valued at $27,000 after buying an additional 300 shares during the period. Larson Financial Group LLC lifted its holdings in CRISPR Therapeutics by 95.5% in the second quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock valued at $31,000 after acquiring an additional 276 shares during the period. GPS Wealth Strategies Group LLC boosted its position in CRISPR Therapeutics by 99.7% in the second quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company’s stock worth $33,000 after purchasing an additional 307 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its stake in shares of CRISPR Therapeutics by 66.7% during 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. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of CRISPR Therapeutics during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

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.