CRISPR Therapeutics (NASDAQ:CRSP) Trading Up 11.2% - Time to Buy?

Key Points

• CRISPR Therapeutics shares jumped 11.2% to about $58.90, with trading volume 18% above its average session volume.
• Analyst sentiment is broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $68.06; individual targets range from $55 to $88.
• The company remains unprofitable, reporting a quarterly loss of $0.94 per share and forecasting a full-year loss of $4.53 per share, although it has substantial liquidity with current and quick ratios of 17.85.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s share price shot up 11.2% during mid-day trading on Wednesday . The company traded as high as $58.37 and last traded at $58.8950. 2,092,143 shares were traded during trading, an increase of 18% from the average session volume of 1,767,027 shares. The stock had previously closed at $52.97.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRSP. Weiss Ratings reiterated a "sell (d-)" rating on shares of CRISPR Therapeutics in a research note on Friday, July 17th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 target price on shares of CRISPR Therapeutics in a report on Thursday, August 6th. Citigroup increased their price target on shares of CRISPR Therapeutics from $82.00 to $88.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. HC Wainwright reiterated a "buy" rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research note on Wednesday, July 8th. Finally, Citizens Jmp reissued a "market outperform" rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CRISPR Therapeutics has an average rating of "Moderate Buy" and an average target price of $68.06.

CRISPR Therapeutics Trading Up 11.7%

The stock has a 50 day moving average of $52.49 and a 200-day moving average of $52.23. The company has a market capitalization of $5.72 billion, a P/E ratio of -12.38 and a beta of 1.74. The company has a current ratio of 17.85, a quick ratio of 17.85 and a debt-to-equity ratio of 0.34.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported ($0.94) EPS for the quarter. CRISPR Therapeutics had a negative return on equity of 24.39% and a negative net margin of 3,368.72%.The firm had revenue of $10.18 million for the quarter. On average, research analysts predict that CRISPR Therapeutics AG will post -4.53 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In related news, insider Naimish Patel sold 3,786 shares of CRISPR Therapeutics stock in a transaction on Friday, May 29th. The shares were sold at an average price of $55.62, for a total transaction of $210,577.32. Following the transaction, the insider owned 19,357 shares in the company, valued at approximately $1,076,636.34. The trade was a 16.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds have recently made changes to their positions in CRSP. Royal Bank of Canada raised its position in shares of CRISPR Therapeutics by 28.2% during the first quarter. Royal Bank of Canada now owns 142,696 shares of the company's stock valued at $4,856,000 after buying an additional 31,392 shares during the last quarter. AQR Capital Management LLC purchased a new position in CRISPR Therapeutics during the first quarter valued at $861,000. Woodline Partners LP grew its stake in CRISPR Therapeutics by 34.3% during the first quarter. Woodline Partners LP now owns 136,483 shares of the company's stock valued at $4,645,000 after acquiring an additional 34,883 shares in the last quarter. Prudential Financial Inc. bought a new stake in CRISPR Therapeutics in the 2nd quarter valued at $237,000. Finally, Invesco Ltd. increased its holdings in CRISPR Therapeutics by 138.4% in the 2nd quarter. Invesco Ltd. now owns 66,648 shares of the company's stock valued at $3,242,000 after acquiring an additional 38,691 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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