CRISPR Therapeutics (NASDAQ:CRSP) Trading Up 6.8% - Here's Why

Key Points

• CRISPR Therapeutics' stock rose by 6.8% to $55.34 amid decreased trading volume, with 417,273 shares changing hands compared to an average of 2,527,629 shares.
• Analyst ratings are mixed, with a consensus rating of "Hold" and a price target range between $65.00 and $86.00 from various firms, while nine analysts rate the stock as a Buy.
• Insider activity increased significantly with Director Simeon George acquiring 989,812 shares, raising their total ownership in CRISPR Therapeutics by over 133%.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s share price rose 6.8% on Thursday . The company traded as high as $54.61 and last traded at $55.34. Approximately 417,273 shares were traded during trading, a decline of 83% from the average daily volume of 2,527,629 shares. The stock had previously closed at $51.81.

Analyst Ratings Changes

CRSP has been the subject of a number of research analyst reports. Bank of America cut their target price on shares of CRISPR Therapeutics from $79.00 to $78.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. Zacks Research upgraded shares of CRISPR Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. JMP Securities restated a "market outperform" rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Chardan Capital restated a "buy" rating and issued a $82.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, August 5th. Finally, Barclays raised their price target on shares of CRISPR Therapeutics from $42.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, CRISPR Therapeutics currently has a consensus rating of "Hold" and an average price target of $71.60.

CRISPR Therapeutics Stock Up 5.8%

The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of -11.27 and a beta of 1.81. The stock's 50-day simple moving average is $56.86 and its 200 day simple moving average is $45.84.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported ($1.29) EPS for the quarter, beating analysts' consensus estimates of ($1.47) by $0.18. The firm had revenue of $0.89 million for the quarter, compared to analyst estimates of $6.44 million. CRISPR Therapeutics had a negative net margin of 1,229.43% and a negative return on equity of 20.05%. The company's revenue for the quarter was up 72.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.49) earnings per share. As a group, equities research analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In related news, Director Simeon George bought 989,812 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was bought at an average cost of $52.03 per share, with a total value of $51,499,918.36. Following the completion of the purchase, the director owned 1,730,179 shares in the company, valued at approximately $90,021,213.37. The trade was a 133.69% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Atlantic Union Bankshares Corp bought a new stake in shares of CRISPR Therapeutics during the second quarter worth approximately $33,000. SVB Wealth LLC bought a new stake in shares of CRISPR Therapeutics during the first quarter worth approximately $25,000. Strategic Wealth Investment Group LLC bought a new stake in shares of CRISPR Therapeutics during the second quarter worth approximately $36,000. Wood Tarver Financial Group LLC bought a new stake in shares of CRISPR Therapeutics during the fourth quarter worth approximately $30,000. Finally, Costello Asset Management INC bought a new stake in shares of CRISPR Therapeutics during the first quarter worth approximately $27,000. 69.20% of the stock is owned by institutional investors.

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.