CRISPR Therapeutics (NASDAQ:CRSP) Trading 6.6% Higher - Here's What Happened

Key Points

• CRISPR Therapeutics shares rose 6.6% to approximately $60.88, though trading volume was 86% below the average session volume.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $68.06; several analysts maintain “market outperform” ratings with $80 targets.
• The company reported a quarterly loss of $0.94 per share on $10.18 million in revenue, while its lead CTX001 gene-editing therapy targets sickle cell disease and transfusion-dependent beta thalassemia.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s stock price rose 6.6% on Tuesday . The company traded as high as $60.44 and last traded at $60.8750. Approximately 254,694 shares changed hands during trading, a decline of 86% from the average session volume of 1,775,483 shares. The stock had previously closed at $57.08.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. UBS Group set a $80.00 target price on shares of CRISPR Therapeutics in a report on Friday, June 12th. The Goldman Sachs Group reiterated a "neutral" rating and set a $55.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, August 6th. Citigroup reissued a "market outperform" rating on shares of CRISPR Therapeutics in a report on Tuesday. Wall Street Zen upgraded CRISPR Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Citizens Jmp restated a "market outperform" rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $68.06.

CRISPR Therapeutics Stock Performance

The stock has a market cap of $5.84 billion, a price-to-earnings ratio of -12.68 and a beta of 1.74. The company's 50 day simple moving average is $53.14 and its 200 day simple moving average is $52.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 17.85 and a current ratio of 17.85.

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

Insiders Place Their Bets

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,786 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $55.62, for a total transaction of $210,577.32. Following the completion of the transaction, the insider directly owned 19,357 shares of the company's stock, valued at approximately $1,076,636.34. This trade represents a 16.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is owned by company insiders.

Institutional Trading of CRISPR Therapeutics

Several institutional investors have recently modified their holdings of the company. Cerity Partners LLC grew its holdings in CRISPR Therapeutics by 3.0% during the second quarter. Cerity Partners LLC now owns 6,541 shares of the company's stock worth $318,000 after acquiring an additional 190 shares during the period. Peapack Gladstone Financial Corp lifted its holdings in CRISPR Therapeutics by 3.0% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company's stock valued at $339,000 after acquiring an additional 200 shares during the last quarter. Allworth Financial LP boosted its position in shares of CRISPR Therapeutics by 2.7% during the 4th quarter. Allworth Financial LP now owns 9,550 shares of the company's stock valued at $501,000 after purchasing an additional 249 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in shares of CRISPR Therapeutics by 6.6% during the 4th quarter. Meeder Advisory Services Inc. now owns 4,392 shares of the company's stock valued at $230,000 after purchasing an additional 270 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of CRISPR Therapeutics by 29.9% in the 4th quarter. IFP Advisors Inc now owns 1,250 shares of the company's stock worth $66,000 after purchasing an additional 288 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company's stock.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.

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