CRISPR Therapeutics (NASDAQ:CRSP) Shares Gap Up - Here's What Happened

Key Points

• CRISPR Therapeutics shares initially gapped higher, opening at $60.39 versus the prior close of $57.34, before later trading at $55.15 on volume of about 520,000 shares.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $67.94; individual targets ranged from $55 to $80.
• The company reported a quarterly loss of $0.94 per share on $10.18 million in revenue, while insiders recently sold shares and institutional investors continued to hold a substantial 69.2% of the stock.

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) gapped up before the market opened on Tuesday. The stock had previously closed at $57.34, but opened at $60.39. CRISPR Therapeutics shares last traded at $55.1520, with a volume of 520,040 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group set a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, June 12th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, August 6th. Citizens Jmp reissued a "market outperform" rating and issued a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, August 31st. HC Wainwright reissued a "buy" rating on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Finally, Morgan Stanley set a $60.00 price objective on shares of CRISPR Therapeutics and gave the stock an "equal weight" rating in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, CRISPR Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $67.94.

CRISPR Therapeutics Stock Performance

The stock has a market cap of $5.31 billion, a PE ratio of -11.54 and a beta of 1.76. The company has a debt-to-equity ratio of 0.34, a quick ratio of 17.85 and a current ratio of 17.85. The firm has a fifty day moving average price of $54.77 and a 200 day moving average price of $52.96.

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

Insider Activity

In other news, General Counsel James R. Kasinger sold 10,400 shares of the firm's stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $60.24, for a total transaction of $626,496.00. Following the sale, the general counsel owned 94,784 shares of the company's stock, valued at $5,709,788.16. This trade represents a 9.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ali Behbahani sold 13,679 shares of CRISPR Therapeutics stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $57.09, for a total transaction of $780,934.11. Following the completion of the transaction, the director directly owned 16,637 shares of the company's stock, valued at $949,806.33. The trade was a 45.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CRSP. Capital International Investors boosted its holdings in shares of CRISPR Therapeutics by 4.3% during the 4th quarter. Capital International Investors now owns 5,892,745 shares of the company's stock worth $309,016,000 after purchasing an additional 243,487 shares during the last quarter. Norges Bank acquired a new position in CRISPR Therapeutics during the fourth quarter worth $25,706,000. Swiss National Bank boosted its stake in CRISPR Therapeutics by 5.1% during the first quarter. Swiss National Bank now owns 169,700 shares of the company's stock worth $8,073,000 after buying an additional 8,200 shares during the last quarter. Affinity Asset Advisors LLC purchased a new stake in CRISPR Therapeutics in the 1st quarter valued at $7,136,000. Finally, KBC Group NV increased its stake in shares of CRISPR Therapeutics by 3,999.9% in the 1st quarter. KBC Group NV now owns 116,847 shares of the company's stock worth $5,558,000 after acquiring an additional 113,997 shares during the last quarter. Hedge funds and other institutional investors own 69.20% of the company's stock.

CRISPR Therapeutics Company Profile

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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