CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Up 7.1% - Here's Why

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s stock price was up 7.1% on Monday . The stock traded as high as $51.52 and last traded at $50.88. Approximately 2,564,936 shares traded hands during trading, an increase of 38% from the average daily volume of 1,860,845 shares. The stock had previously closed at $47.49.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen raised CRISPR Therapeutics to a "sell" rating in a research report on Friday, May 16th. Needham & Company LLC reaffirmed a "buy" rating and issued a $81.00 target price on shares of CRISPR Therapeutics in a report on Thursday, June 26th. Chardan Capital reiterated a "buy" rating and set a $82.00 price target on shares of CRISPR Therapeutics in a report on Thursday, June 26th. Barclays reduced their price target on shares of CRISPR Therapeutics from $56.00 to $42.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $65.00 price objective 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $71.75.

CRISPR Therapeutics Price Performance

The firm has a 50-day simple moving average of $40.40 and a 200-day simple moving average of $40.69. The firm has a market capitalization of $4.50 billion, a PE ratio of -11.54 and a beta of 1.82.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its quarterly earnings data 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 return on equity of 20.08% and a negative net margin of 1,023.64%. The firm's revenue for the quarter was up 71.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.43) earnings per share. Equities analysts expect that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insider Activity

In related news, insider Naimish Patel sold 3,932 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $35.94, for a total value of $141,316.08. Following the transaction, the insider directly owned 6,068 shares of the company's stock, valued at approximately $218,083.92. This trade represents a 39.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by insiders.

Institutional Trading of CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CRSP. SVB Wealth LLC purchased a new position in shares of CRISPR Therapeutics during the 1st quarter valued at about $25,000. Costello Asset Management INC bought a new stake in CRISPR Therapeutics during the 1st quarter worth approximately $27,000. Wood Tarver Financial Group LLC bought a new stake in CRISPR Therapeutics during the 4th quarter worth approximately $30,000. Ameriflex Group Inc. purchased a new position in CRISPR Therapeutics during the fourth quarter valued at approximately $36,000. Finally, Quantbot Technologies LP boosted its position in shares of 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 purchasing an additional 978 shares during the period. Hedge funds and other institutional investors 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.