CRISPR Therapeutics (NASDAQ:CRSP) Shares Up 0.8% – Here’s What Happened

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price traded up 0.8% during mid-day trading on Thursday . The stock traded as high as $42.58 and last traded at $41.55. 382,212 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 1,904,722 shares. The stock had previously closed at $41.21.

Analyst Ratings Changes

A number of research analysts recently commented on CRSP shares. Chardan Capital reissued a “buy” rating and issued a $94.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, January 14th. Barclays dropped their target price on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Bank of America reduced their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.38.

CRISPR Therapeutics Trading Down 1.1 %

The firm has a market cap of $3.55 billion, a PE ratio of -14.70 and a beta of 1.68. The firm has a fifty day simple moving average of $43.76 and a two-hundred day simple moving average of $47.27.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.41. The company had revenue of $0.60 million during the quarter, compared to analyst estimates of $6.65 million. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. During the same quarter last year, the firm posted ($1.41) earnings per share. Equities analysts expect that CRISPR Therapeutics AG will post -5.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Samarth Kulkarni sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $10,931,554.80. This trade represents a 13.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Baker BROS. Advisors LP grew its position in shares of CRISPR Therapeutics by 743.1% in the 3rd quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company’s stock worth $39,608,000 after buying an additional 743,075 shares during the period. State Street Corp boosted its stake in CRISPR Therapeutics by 25.0% during the third quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after acquiring an additional 599,304 shares in the last quarter. Van ECK Associates Corp grew its holdings in CRISPR Therapeutics by 5,269.3% in the fourth quarter. Van ECK Associates Corp now owns 83,010 shares of the company’s stock worth $3,267,000 after purchasing an additional 81,464 shares during the period. KBC Group NV increased its stake in shares of CRISPR Therapeutics by 2,047.4% during the fourth quarter. KBC Group NV now owns 60,514 shares of the company’s stock valued at $2,382,000 after purchasing an additional 57,696 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of CRISPR Therapeutics during the third quarter valued at approximately $1,825,000. Institutional investors 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.