CRISPR Therapeutics (NASDAQ:CRSP) Shares Gap Up - What's Next?

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $41.58, but opened at $43.41. CRISPR Therapeutics shares last traded at $43.44, with a volume of 658,375 shares trading hands.

Wall Street Analysts Forecast Growth

CRSP has been the topic of several analyst reports. The Goldman Sachs Group decreased their price target on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and set a $81.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, May 20th. Barclays cut their price target on CRISPR Therapeutics from $56.00 to $42.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. JMP Securities restated a "market outperform" rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, May 21st. Finally, HC Wainwright reiterated a "buy" rating and issued a $65.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $69.53.

CRISPR Therapeutics Trading Down 0.4%

The firm has a fifty day moving average of $38.61 and a 200 day moving average of $40.67.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share for the quarter, missing analysts' consensus estimates 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 quarter last year, the business earned ($1.43) EPS. The business's revenue for the quarter was up 71.6% on a year-over-year basis. As a group, research analysts predict that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Naimish Patel sold 3,932 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $35.94, for a total value of $141,316.08. Following the sale, the insider now directly owns 6,068 shares of the company's stock, valued at $218,083.92. This represents a 39.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Large investors have recently modified their holdings of the stock. SVB Wealth LLC acquired a new stake in shares of CRISPR Therapeutics during the 1st quarter valued at approximately $25,000. Costello Asset Management INC acquired a new position in shares of CRISPR Therapeutics in the 1st quarter valued at about $27,000. Wood Tarver Financial Group LLC bought a new stake in shares of CRISPR Therapeutics during the 4th quarter valued at about $30,000. Ameriflex Group Inc. acquired a new stake in CRISPR Therapeutics during the fourth quarter worth about $36,000. Finally, Quantbot Technologies LP lifted its holdings in CRISPR Therapeutics by 272.4% in the first quarter. Quantbot Technologies LP now owns 1,337 shares of the company's stock worth $45,000 after acquiring an additional 978 shares during the last quarter. 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.