CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Up 6.3% – What’s Next?

CRISPR Therapeutics AG (NASDAQ:CRSP) shares traded up 6.3% during mid-day trading on Friday . The stock traded as high as $36.09 and last traded at $36.40. 266,161 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,607,792 shares. The stock had previously closed at $34.26.

Analyst Upgrades and Downgrades

CRSP has been the subject of several recent research reports. The Goldman Sachs Group reduced their price target on CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Evercore ISI raised CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $60.00 to $99.00 in a report on Friday, February 14th. Bank of America reduced their price target on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. TD Cowen raised shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a report on Wednesday, February 12th. Finally, Citigroup reduced their price objective on CRISPR Therapeutics from $89.00 to $82.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.11.

CRISPR Therapeutics Price Performance

The firm’s 50 day moving average price is $41.14 and its 200-day moving average price is $44.03. The stock has a market cap of $3.37 billion, a P/E ratio of -8.99 and a beta of 1.85.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. On average, analysts expect that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 2,850 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $120,897.00. Following the completion of the transaction, the general counsel now owns 77,530 shares in the company, valued at $3,288,822.60. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Samarth Kulkarni sold 9,973 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total value of $423,054.66. Following the sale, the chief executive officer now directly owns 180,890 shares in the company, valued at $7,673,353.80. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,381 shares of company stock worth $1,608,243 in the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Wood Tarver Financial Group LLC purchased a new stake in shares of CRISPR Therapeutics during the fourth quarter valued at about $30,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of CRISPR Therapeutics during the third quarter worth about $40,000. Ameriflex Group Inc. purchased a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at $36,000. Highline Wealth Partners LLC acquired a new stake in CRISPR Therapeutics during the 4th quarter worth about $39,000. Finally, Western Pacific Wealth Management LP boosted its position in CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after purchasing an additional 500 shares in the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Company Profile

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.