CRISPR Therapeutics (NASDAQ:CRSP) Shares Climb 5.7% - What's Next?

Key Points

• CRISPR Therapeutics shares rose 5.7% to $53.33, although trading volume was 92% below the stock’s average daily volume.
• Analyst sentiment remains generally positive: the stock has a “Moderate Buy” consensus rating and an average price target of $67.94, led by UBS and Needham buy ratings.
• The company remains unprofitable, reporting a quarterly loss of $0.94 per share and forecasting a full-year loss of $4.47 per share. Insiders sold about $1.53 million of shares over the past 90 days, while institutional investors own 69.2% of the stock.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s share price rose 5.7% on Friday. The stock traded as high as $51.75 and last traded at $53.33. 143,255 shares changed hands during trading, a decline of 92% from the average daily volume of 1,748,777 shares. The stock had previously closed at $50.44.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRSP. UBS Group reaffirmed a "buy" rating on shares of CRISPR Therapeutics in a research note on Friday. Needham & Company LLC reissued a "buy" rating and set a $82.00 target price on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Weiss Ratings restated a "sell (d-)" rating on shares of CRISPR Therapeutics in a report on Friday, July 17th. Wall Street Zen raised shares of CRISPR Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $55.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $67.94.

CRISPR Therapeutics Stock Up 5.8%

The company's fifty day simple moving average is $55.03 and its 200-day simple moving average is $53.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 17.85 and a quick ratio of 17.85. The firm has a market capitalization of $5.16 billion, a PE ratio of -11.22 and a beta of 1.76.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.94) EPS for the quarter. The business had revenue of $10.18 million during the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. On average, analysts forecast that CRISPR Therapeutics AG will post -4.47 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, General Counsel James Kasinger sold 1,990 shares of the company's stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $60.04, for a total value of $119,479.60. Following the sale, the general counsel owned 94,784 shares in the company, valued at approximately $5,690,831.36. This represents a 2.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ali Behbahani sold 13,679 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $57.09, for a total transaction of $780,934.11. Following the sale, the director directly owned 16,637 shares in the company, valued at $949,806.33. This trade represents a 45.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,069 shares of company stock worth $1,526,910 over the last ninety days. Insiders own 5.20% of the company's stock.

Institutional Trading of CRISPR Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in CRISPR Therapeutics by 92.0% in the third quarter. GAMMA Investing LLC now owns 1,246 shares of the company's stock valued at $69,000 after acquiring an additional 597 shares during the last quarter. Green Alpha Advisors LLC grew its position in CRISPR Therapeutics by 1.8% in the third quarter. Green Alpha Advisors LLC now owns 56,786 shares of the company's stock worth $3,141,000 after acquiring an additional 982 shares during the period. Farther Finance Advisors LLC increased its stake in CRISPR Therapeutics by 43.6% during the third quarter. Farther Finance Advisors LLC now owns 11,426 shares of the company's stock worth $632,000 after acquiring an additional 3,470 shares during the last quarter. Congress Asset Management Co. raised its position in CRISPR Therapeutics by 1.6% in the third quarter. Congress Asset Management Co. now owns 111,230 shares of the company's stock valued at $6,153,000 after purchasing an additional 1,777 shares during the period. Finally, Versant Capital Management Inc raised its position in CRISPR Therapeutics by 131.8% in the third quarter. Versant Capital Management Inc now owns 1,078 shares of the company's stock valued at $60,000 after purchasing an additional 613 shares during the period. Hedge funds and other institutional investors own 69.20% of the company's stock.

About CRISPR Therapeutics

CRISPR Therapeutics AG NASDAQ: CRSP is a biotechnology company focused on developing gene-editing medicines based on CRISPR/Cas9 technology. The company aims to treat serious diseases by precisely modifying genetic material in patients' cells, with research programs spanning hematology, oncology, autoimmune diseases, and regenerative medicine.

Its lead product, CASGEVY (exagamglogene autotemcel), is a CRISPR/Cas9-based cell therapy developed with Vertex Pharmaceuticals. CASGEVY is approved in multiple markets, including the United States, United Kingdom, and European Union, for certain patients with sickle cell disease and transfusion-dependent beta thalassemia.

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