CRISPR Therapeutics (NASDAQ:CRSP) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded CRISPR Therapeutics from “hold” to “sell,” even though the broader analyst view remains more positive with an average rating of “Moderate Buy” and an average target price of $67.78.
• The stock fell 0.9% and opened at $49.80, trading below both its 50-day and 200-day moving averages, while remaining within a 52-week range of $40.00 to $78.48.
• Recent fundamentals remain weak: the company reported a quarterly loss of $1.28 per share on just $1.46 million in revenue, and analysts expect a full-year loss of 4.9 EPS.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Other research analysts also recently issued research reports about the stock. Piper Sandler reissued an "overweight" rating and set a $110.00 price objective (up from $105.00) on shares of CRISPR Therapeutics in a report on Tuesday, March 17th. Needham & Company LLC increased their price objective on shares of CRISPR Therapeutics from $80.00 to $82.00 and gave the company a "buy" rating in a report on Friday, February 13th. TD Cowen increased their price objective on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the company a "hold" rating in a report on Friday, February 13th. Morgan Stanley set a $60.00 price objective on shares of CRISPR Therapeutics and gave the company an "equal weight" rating in a report on Thursday. Finally, Sanford C. Bernstein increased their price objective on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the company a "market perform" rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, CRISPR Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $67.78.

CRISPR Therapeutics Stock Down 0.9%

CRSP opened at $49.80 on Friday. The firm has a 50-day simple moving average of $52.40 and a two-hundred day simple moving average of $53.09. CRISPR Therapeutics has a 52 week low of $40.00 and a 52 week high of $78.48. The company has a market capitalization of $4.80 billion, a PE ratio of -8.01 and a beta of 1.74. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported ($1.28) EPS for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. The company had revenue of $1.46 million for the quarter. Analysts forecast that CRISPR Therapeutics will post -4.9 earnings per share for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In related news, insider Naimish Patel sold 3,786 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $55.62, for a total value of $210,577.32. Following the completion of the transaction, the insider owned 19,357 shares of the company's stock, valued at approximately $1,076,636.34. This trade represents a 16.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Samarth Kulkarni sold 10,349 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $48.26, for a total transaction of $499,442.74. Following the completion of the transaction, the chief executive officer directly owned 245,834 shares of the company's stock, valued at approximately $11,863,948.84. The trade was a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 33,937 shares of company stock valued at $1,646,126. Insiders own 4.30% of the company's stock.

Institutional Trading of CRISPR Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its stake in CRISPR Therapeutics by 3.0% in the second quarter. Cerity Partners LLC now owns 6,541 shares of the company's stock worth $318,000 after purchasing an additional 190 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in CRISPR Therapeutics by 3.0% in the second quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company's stock worth $339,000 after purchasing an additional 200 shares during the last quarter. Optiver Holding B.V. lifted its stake in CRISPR Therapeutics by 71.4% in the third quarter. Optiver Holding B.V. now owns 504 shares of the company's stock worth $33,000 after purchasing an additional 210 shares during the last quarter. US Bancorp DE lifted its stake in CRISPR Therapeutics by 4.5% in the third quarter. US Bancorp DE now owns 5,777 shares of the company's stock worth $374,000 after purchasing an additional 249 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in CRISPR Therapeutics by 2.7% in the fourth quarter. Allworth Financial LP now owns 9,550 shares of the company's stock worth $501,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 69.20% of the company's stock.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.

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