CRISPR Therapeutics (NASDAQ:CRSP) Trading 8.2% Higher - What's Next?

Key Points

• CRISPR Therapeutics' shares surged by 8.2%, closing at $71.56 after previously trading at a low of $66.16.
• Analysts have given the stock a consensus rating of "Moderate Buy" with an average price target of $71.50, while some have set targets as high as $86.00.
• Insider activity showed significant investment, as Director Simeon George purchased nearly 1 million shares valued at approximately $51.5 million, indicating confidence in the company's future.

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) were up 8.2% during trading on Thursday . The company traded as high as $70.83 and last traded at $71.56. Approximately 1,931,928 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 2,542,455 shares. The stock had previously closed at $66.16.

Analyst Ratings Changes

A number of analysts have recently commented on CRSP shares. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, September 23rd. JMP Securities reaffirmed a "market outperform" rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Needham & Company LLC reissued a "buy" rating and set a $81.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, July 8th. Royal Bank Of Canada increased their target price on CRISPR Therapeutics from $38.00 to $42.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 5th. Finally, Barclays increased their target price on CRISPR Therapeutics from $42.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, CRISPR Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $71.50.

CRISPR Therapeutics Stock Performance

The business has a 50-day simple moving average of $57.49 and a two-hundred day simple moving average of $47.37. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of -13.15 and a beta of 1.84.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported ($1.29) earnings per share 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 during the quarter, compared to the consensus estimate of $6.44 million. During the same quarter in the prior year, the firm posted ($1.49) EPS. The business's revenue was up 72.5% on a year-over-year basis. On average, analysts expect that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In related news, Director Simeon George acquired 989,812 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was bought at an average price of $52.03 per share, with a total value of $51,499,918.36. Following the acquisition, 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 can be accessed through this link. Insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Large investors have recently made changes to their positions in the stock. Atlantic Union Bankshares Corp acquired a new stake in shares of CRISPR Therapeutics in the 2nd quarter valued at approximately $33,000. SVB Wealth LLC acquired a new stake in shares of CRISPR Therapeutics in the 1st quarter valued at approximately $25,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of CRISPR Therapeutics in the 2nd quarter valued at approximately $36,000. Costello Asset Management INC bought a new stake in CRISPR Therapeutics in the 1st quarter valued at $27,000. Finally, IFP Advisors Inc raised its stake in CRISPR Therapeutics by 24.6% in the 2nd quarter. IFP Advisors Inc now owns 916 shares of the company's stock valued at $45,000 after acquiring an additional 181 shares during the period. 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.

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