CRISPR Therapeutics (NASDAQ:CRSP) Receives “Buy” Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a report released on Tuesday,Benzinga reports. Chardan Capital currently has a $94.00 price target on the stock.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $53.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Truist Financial dropped their price objective on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, August 12th. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research note on Thursday, November 7th. Barclays cut their price target on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, CRISPR Therapeutics has an average rating of “Hold” and a consensus price target of $74.94.

CRISPR Therapeutics Price Performance

Shares of CRSP stock opened at $48.68 on Tuesday. The stock has a market cap of $4.15 billion, a P/E ratio of -17.20 and a beta of 1.62. The stock has a fifty day moving average price of $48.77 and a 200 day moving average price of $51.36. CRISPR Therapeutics has a one year low of $43.42 and a one year high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.41. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The business had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. During the same period in the previous year, the business earned ($1.41) EPS. Equities research analysts anticipate that CRISPR Therapeutics will post -5.17 EPS for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.62, for a total value of $1,668,600.00. Following the transaction, the chief executive officer now directly owns 196,540 shares of the company’s stock, valued at approximately $10,931,554.80. This trade represents a 13.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel James R. Kasinger sold 1,089 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $50,398.92. Following the sale, the general counsel now owns 62,597 shares of the company’s stock, valued at $2,896,989.16. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,382 shares of company stock worth $2,744,179 over the last three months. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC boosted its holdings in CRISPR Therapeutics by 95.5% during the second quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock worth $31,000 after buying an additional 276 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its stake in CRISPR Therapeutics by 99.7% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company’s stock worth $33,000 after acquiring an additional 307 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in CRISPR Therapeutics during the second quarter valued at approximately $35,000. Wilmington Savings Fund Society FSB bought a new stake in CRISPR Therapeutics in the third quarter valued at approximately $40,000. Finally, Darwin Wealth Management LLC acquired a new stake in CRISPR Therapeutics in the third quarter worth $43,000. 69.20% of the stock is owned by institutional investors and hedge funds.

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.