Guggenheim Reiterates Neutral Rating for CRISPR Therapeutics (NASDAQ:CRSP)

Guggenheim reissued their neutral rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research note released on Friday, MarketBeat reports.

CRSP has been the topic of a number of other reports. Citigroup dropped their price target on shares of CRISPR Therapeutics from $89.00 to $84.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. Mizuho lifted their target price on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Needham & Company LLC reiterated a buy rating and issued a $88.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, June 27th. Cantor Fitzgerald reiterated a neutral rating on shares of CRISPR Therapeutics in a research note on Thursday, May 9th. Finally, Robert W. Baird lifted their target price on shares of CRISPR Therapeutics from $46.00 to $52.00 and gave the stock a neutral rating in a research note on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $75.71.

CRISPR Therapeutics Price Performance

CRSP opened at $53.95 on Friday. The company’s 50-day moving average is $56.69 and its 200 day moving average is $64.47. CRISPR Therapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $91.10. The firm has a market capitalization of $4.58 billion, a P/E ratio of -19.83 and a beta of 1.70.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $25.53 million. During the same quarter in the prior year, the firm earned ($0.67) earnings per share. CRISPR Therapeutics’s quarterly revenue was down 99.5% compared to the same quarter last year. On average, equities research analysts expect that CRISPR Therapeutics will post -5.51 earnings per share for the current year.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, COO Julianne Bruno sold 3,366 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $56.09, for a total transaction of $188,798.94. Following the transaction, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Samarth Kulkarni sold 19,582 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the sale, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at approximately $12,468,589.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Julianne Bruno sold 3,366 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $56.09, for a total transaction of $188,798.94. Following the sale, the chief operating officer now directly owns 6,745 shares in the company, valued at $378,327.05. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CRSP. Congress Asset Management Co. MA raised its stake in CRISPR Therapeutics by 60.3% during the 1st quarter. Congress Asset Management Co. MA now owns 64,605 shares of the company’s stock worth $4,403,000 after acquiring an additional 24,303 shares during the period. PBCay One RSC Ltd bought a new stake in CRISPR Therapeutics during the 4th quarter worth approximately $10,329,000. Invesco Ltd. raised its stake in CRISPR Therapeutics by 1.5% during the 3rd quarter. Invesco Ltd. now owns 136,123 shares of the company’s stock worth $6,179,000 after acquiring an additional 2,061 shares during the period. ARK Investment Management LLC raised its stake in CRISPR Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after acquiring an additional 1,372,986 shares during the period. Finally, Norges Bank bought a new stake in CRISPR Therapeutics during the 4th quarter worth approximately $38,661,000. 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.