CRISPR Therapeutics (NASDAQ:CRSP) Hits New 1-Year High - Here's Why

Key Points

• CRISPR Therapeutics' shares hit a new 52-week high of $72.95, with significant trading volume of 4,266,197 shares.
• Analysts have varying ratings on CRISPR's stock, with a consensus of "Moderate Buy" and a target price of $71.50, while several firms maintain "overweight" ratings.
• Insider trading activity shows Director Simeon George acquired nearly 990,000 shares, increasing his stake significantly, highlighting insider confidence in the company's future.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The stock traded as high as $72.95 and last traded at $72.82, with a volume of 4266197 shares. The stock had previously closed at $66.16.

Analyst Ratings Changes

Several analysts recently commented on CRSP shares. JPMorgan Chase & Co. started coverage on CRISPR Therapeutics in a report on Thursday, September 18th. They set an "overweight" rating and a $70.00 target price on the stock. Royal Bank Of Canada raised their price objective on CRISPR Therapeutics from $38.00 to $42.00 and gave the company a "sector perform" rating in a report on Tuesday, August 5th. JMP Securities reissued a "market outperform" rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a report on Friday, June 27th. Bank of America dropped their price objective on CRISPR Therapeutics from $79.00 to $78.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $105.00 price objective on shares of CRISPR Therapeutics in a report on Friday, June 27th. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $71.50.

CRISPR Therapeutics Stock Up 10.1%

The stock has a market cap of $6.62 billion, a PE ratio of -13.41 and a beta of 1.84. The stock has a 50-day moving average of $57.63 and a 200 day moving average of $47.58.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported ($1.29) EPS for the quarter, topping analysts' consensus estimates of ($1.47) by $0.18. CRISPR Therapeutics had a negative return on equity of 20.05% and a negative net margin of 1,229.43%.The firm had revenue of $0.89 million for the quarter, compared to the consensus estimate of $6.44 million. During the same quarter last year, the business posted ($1.49) earnings per share. The firm's revenue was up 72.5% compared to the same quarter last year. Research analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Simeon George acquired 989,812 shares of CRISPR Therapeutics stock in a transaction that occurred on Wednesday, July 16th. The shares were purchased at an average price of $52.03 per share, for a total transaction of $51,499,918.36. Following the completion of the transaction, the director owned 1,730,179 shares in the company, valued at $90,021,213.37. This represents a 133.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its stake in CRISPR Therapeutics by 13.3% during the first quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company's stock worth $345,929,000 after acquiring an additional 1,192,336 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management acquired a new stake in CRISPR Therapeutics during the first quarter worth $416,000. Cambridge Investment Research Advisors Inc. increased its stake in CRISPR Therapeutics by 14.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,189 shares of the company's stock worth $1,334,000 after acquiring an additional 4,914 shares during the last quarter. Vanguard Group Inc. increased its stake in CRISPR Therapeutics by 1.9% during the first quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company's stock worth $60,223,000 after acquiring an additional 33,711 shares during the last quarter. Finally, Leavell Investment Management Inc. acquired a new stake in CRISPR Therapeutics during the first quarter worth $340,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.