CRISPR Therapeutics (NASDAQ:CRSP) Trading Up 6.8% - What's Next?

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) shares traded up 6.8% during mid-day trading on Thursday . The stock traded as high as $54.61 and last traded at $55.34. 417,273 shares changed hands during trading, a decline of 83% from the average session volume of 2,527,629 shares. The stock had previously closed at $51.81.

Analyst Upgrades and Downgrades

CRSP has been the subject of several recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $81.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, July 8th. JMP Securities reissued a "market outperform" rating and set a $86.00 target price on shares of CRISPR Therapeutics in a research note on Friday, June 27th. HC Wainwright lifted their target price on shares of CRISPR Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Chardan Capital reiterated a "buy" rating and set a $82.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of CRISPR Therapeutics to a "sell" rating in a research report on Friday, May 16th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $71.60.

CRISPR Therapeutics Trading Up 8.1%

The stock's fifty day moving average is $56.57 and its two-hundred day moving average is $45.57. The company has a market capitalization of $5.09 billion, a PE ratio of -10.31 and a beta of 1.81.

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

Insider Activity at CRISPR Therapeutics

In other news, Director Simeon George acquired 989,812 shares of CRISPR Therapeutics stock in a transaction on Wednesday, July 16th. The shares were acquired at an average price of $52.03 per share, with a total value of $51,499,918.36. Following the purchase, the director directly owned 1,730,179 shares in the company, valued at $90,021,213.37. The trade was a 133.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC lifted its position in CRISPR Therapeutics by 13.3% during the first quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company's stock worth $345,929,000 after buying an additional 1,192,336 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management purchased a new stake in CRISPR Therapeutics during the first quarter worth $416,000. Cambridge Investment Research Advisors Inc. increased its stake in CRISPR Therapeutics by 14.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,189 shares of the company's stock valued at $1,334,000 after purchasing an additional 4,914 shares during the last quarter. Green Alpha Advisors LLC increased its stake in CRISPR Therapeutics by 132.9% during the first quarter. Green Alpha Advisors LLC now owns 57,361 shares of the company's stock worth $1,952,000 after acquiring an additional 32,732 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in CRISPR Therapeutics by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company's stock valued at $60,223,000 after purchasing an additional 33,711 shares during the last quarter. Institutional investors and hedge funds 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.

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