CRISPR Therapeutics (NASDAQ:CRSP) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP - Free Report) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $81.00 target price on the stock.

Several other equities analysts also recently commented on CRSP. JMP Securities restated a "market outperform" rating and set a $86.00 target price on shares of CRISPR Therapeutics in a research report on Friday, June 27th. The Goldman Sachs Group dropped their target price on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Piper Sandler restated an "overweight" rating and issued a $105.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Wall Street Zen raised shares of CRISPR Therapeutics to a "sell" rating in a report on Friday, May 16th. Finally, Barclays decreased their price target on CRISPR Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $71.75.

CRISPR Therapeutics Stock Up 7.1%

NASDAQ CRSP traded up $3.63 during midday trading on Tuesday, hitting $54.82. The company had a trading volume of 3,771,791 shares, compared to its average volume of 1,905,684. The firm has a fifty day simple moving average of $40.95 and a two-hundred day simple moving average of $40.81. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of -12.13 and a beta of 1.82. CRISPR Therapeutics has a fifty-two week low of $30.04 and a fifty-two week high of $63.68.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 1,023.64% and a negative return on equity of 20.08%. During the same period in the prior year, the business earned ($1.43) EPS. CRISPR Therapeutics's revenue was up 71.6% compared to the same quarter last year. As a group, equities analysts predict that CRISPR Therapeutics will post -5.16 earnings per share for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,932 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $35.94, for a total transaction of $141,316.08. Following the completion of the sale, the insider directly owned 6,068 shares of the company's stock, valued at approximately $218,083.92. The trade was a 39.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in CRISPR Therapeutics by 182.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company's stock valued at $66,452,000 after acquiring an additional 1,262,560 shares during the period. ARK Investment Management LLC increased its position in shares of CRISPR Therapeutics by 13.3% in the first quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company's stock worth $345,929,000 after purchasing an additional 1,192,336 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of CRISPR Therapeutics by 39.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company's stock worth $150,029,000 after buying an additional 1,074,238 shares during the last quarter. Capital International Investors raised its position in shares of CRISPR Therapeutics by 10.3% during the 4th quarter. Capital International Investors now owns 8,743,523 shares of the company's stock valued at $344,145,000 after buying an additional 816,789 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of CRISPR Therapeutics by 6,769.1% in the 1st quarter. Millennium Management LLC now owns 583,733 shares of the company's stock worth $19,864,000 after purchasing an additional 575,235 shares in the last quarter. 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.