CRISPR Therapeutics (NASDAQ:CRSP) Rating Increased to Hold at Zacks Research

Key Points

• CRISPR Therapeutics received an upgrade from Zacks Research, shifting from a "strong sell" to a "hold" rating, indicating a more stable outlook for the stock.
• Investment analysts have varied price targets for CRISPR Therapeutics, with JMP Securities setting a target at $86.00 and Bank of America lowering its target to $78.00.
• Director Simeon George made a significant purchase of 989,812 shares, indicating confidence in the company's future, as his stake increased by 133.69%.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on CRSP. Royal Bank Of Canada boosted their price target on shares of CRISPR Therapeutics from $38.00 to $42.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of CRISPR Therapeutics to a "sell" rating in a research note on Friday, May 16th. The Goldman Sachs Group decreased their price target on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Piper Sandler restated an "overweight" rating and set a $105.00 price target on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $81.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $71.60.

CRISPR Therapeutics Stock Down 2.3%

CRSP stock traded down $1.22 during midday trading on Tuesday, reaching $51.83. 1,587,698 shares of the company's stock traded hands, compared to its average volume of 2,529,323. The company has a market cap of $4.71 billion, a price-to-earnings ratio of -9.55 and a beta of 1.81. The firm's fifty day moving average price is $55.74 and its 200-day moving average price is $45.36. CRISPR Therapeutics has a 52 week low of $30.04 and a 52 week high of $71.13.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced 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 business had revenue of $0.89 million during 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%. CRISPR Therapeutics's quarterly revenue was up 72.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.49) EPS. Analysts forecast that CRISPR Therapeutics will post -5.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Simeon George acquired 989,812 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was acquired at an average price of $52.03 per share, for a total transaction of $51,499,918.36. Following the completion of the acquisition, the director owned 1,730,179 shares of the company's stock, valued at approximately $90,021,213.37. This represents a 133.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.10% of the company's stock.

Institutional Trading of CRISPR Therapeutics

A number of large investors have recently added to or reduced their stakes in CRSP. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in CRISPR Therapeutics by 182.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company's stock worth $66,452,000 after buying an additional 1,262,560 shares during the last quarter. Orbis Allan Gray Ltd increased its holdings in CRISPR Therapeutics by 76.9% during the second quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company's stock worth $134,467,000 after buying an additional 1,201,600 shares during the last quarter. ARK Investment Management LLC increased its holdings 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 during the last quarter. Geode Capital Management LLC increased its holdings in CRISPR Therapeutics by 98.1% during the second quarter. Geode Capital Management LLC now owns 2,071,883 shares of the company's stock worth $100,789,000 after buying an additional 1,025,979 shares during the last quarter. Finally, State Street Corp increased its holdings in CRISPR Therapeutics by 35.6% during the second quarter. State Street Corp now owns 3,270,596 shares of the company's stock worth $159,082,000 after buying an additional 859,334 shares during the last quarter. Hedge funds and other institutional investors 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.