CRISPR Therapeutics (NASDAQ:CRSP) Shares Up 7% - Should You Buy?

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) were up 7% during mid-day trading on Tuesday . The company traded as high as $54.88 and last traded at $54.80. Approximately 1,397,696 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 2,369,514 shares. The stock had previously closed at $51.19.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays cut their price target on CRISPR Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Chardan Capital reaffirmed a "buy" rating and set a $82.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, June 26th. Needham & Company LLC reissued a "buy" rating and set a $81.00 price target on shares of CRISPR Therapeutics in a report on Tuesday. The Goldman Sachs Group reduced their price objective on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Finally, Piper Sandler restated an "overweight" rating and set a $105.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, CRISPR Therapeutics has an average rating of "Hold" and a consensus price target of $71.75.

CRISPR Therapeutics Trading Down 3.8%

The company's 50-day moving average is $42.15 and its 200 day moving average is $41.17. The firm has a market cap of $4.90 billion, a PE ratio of -12.56 and a beta of 1.82.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share (EPS) 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%. CRISPR Therapeutics's quarterly revenue was up 71.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.43) earnings per share. On average, research analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,932 shares of CRISPR Therapeutics stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $35.94, for a total transaction of $141,316.08. Following the transaction, the insider owned 6,068 shares of the company's stock, valued at $218,083.92. The trade was a 39.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.30% of the company's stock.

Institutional Trading of CRISPR Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. SVB Wealth LLC purchased a new stake in shares of CRISPR Therapeutics during the 1st quarter worth about $25,000. Wood Tarver Financial Group LLC acquired a new position in CRISPR Therapeutics in the fourth quarter worth approximately $30,000. Costello Asset Management INC bought a new position in CRISPR Therapeutics during the first quarter valued at approximately $27,000. Ameriflex Group Inc. acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $36,000. Finally, Quantbot Technologies LP grew its position 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 in the last quarter. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

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.