CRISPR Therapeutics (NASDAQ:CRSP) Shares Up 11.6% - What's Next?

Key Points

• CRISPR Therapeutics shares jumped 11.6% to about $58.27, with trading volume significantly below its daily average. The company has a market capitalization of approximately $5.49 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $68.06. Targets range from $55 at Goldman Sachs to $80 at UBS.
• Institutional investors own 69.2% of the company, while recent financial results showed a $0.94 quarterly loss per share on $10.18 million in revenue. CRISPR’s lead product, Casgevy, is approved for eligible patients with sickle cell disease and beta thalassemia.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) shot up 11.6% during trading on Thursday . The company traded as high as $57.88 and last traded at $58.2710. Approximately 562,259 shares changed hands during trading, a decline of 68% from the average daily volume of 1,737,182 shares. The stock had previously closed at $52.21.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRSP. Morgan Stanley set a $60.00 price objective on CRISPR Therapeutics and gave the stock an "equal weight" rating in a report on Thursday, June 11th. Wall Street Zen upgraded CRISPR Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. UBS Group set a $80.00 price target on shares of CRISPR Therapeutics in a research note on Friday, June 12th. Citigroup reissued a "market outperform" rating on shares of CRISPR Therapeutics in a report on Tuesday, August 25th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 target price on shares of CRISPR Therapeutics in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, CRISPR Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $68.06.

CRISPR Therapeutics Stock Performance

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 stock has a 50 day moving average of $52.99 and a 200 day moving average of $52.82. The stock has a market capitalization of $5.49 billion, a P/E ratio of -11.94 and a beta of 1.76.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share (EPS) for the quarter. The company 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%. Equities analysts predict that CRISPR Therapeutics AG will post -4.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of CRISPR Therapeutics in the fourth quarter valued at approximately $25,706,000. Canal Insurance CO bought a new stake in CRISPR Therapeutics during the first quarter worth approximately $1,670,000. Quantinno Capital Management LP raised its holdings in CRISPR Therapeutics by 613.5% during the first quarter. Quantinno Capital Management LP now owns 47,989 shares of the company's stock worth $2,283,000 after purchasing an additional 41,263 shares in the last quarter. Leonteq Securities AG bought a new stake in CRISPR Therapeutics during the fourth quarter worth approximately $1,155,000. Finally, Blue Jean Financial LLC bought a new position in CRISPR Therapeutics during the 4th quarter valued at $1,470,000. 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 using CRISPR/Cas9 technology. The company's programs are designed to modify disease-associated genes in human cells, with the goal of treating serious conditions across hematology, oncology, autoimmune disease and regenerative medicine.

Its most advanced product is Casgevy (exa-cel), an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals. Casgevy uses CRISPR/Cas9 gene editing to modify a patient's blood stem cells and is approved in several markets for eligible patients with sickle cell disease and transfusion-dependent beta thalassemia.

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