TD Cowen Upgrades CRISPR Therapeutics (NASDAQ:CRSP) to “Hold”

CRISPR Therapeutics (NASDAQ:CRSP) was upgraded by investment analysts at TD Cowen from a “sell” rating to a “hold” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm presently has a $35.00 price objective on the stock. TD Cowen’s price target suggests a potential downside of 11.66% from the stock’s current price.

Other research analysts have also issued reports about the stock. Chardan Capital reiterated a “buy” rating and issued a $94.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. HC Wainwright began coverage on shares of CRISPR Therapeutics in a research report on Monday, February 3rd. They issued a “buy” rating and a $65.00 target price for the company. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Finally, Bank of America lowered their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $75.22.

CRISPR Therapeutics Trading Up 0.5 %

CRISPR Therapeutics stock opened at $39.62 on Wednesday. CRISPR Therapeutics has a 1-year low of $36.52 and a 1-year high of $91.10. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -14.00 and a beta of 1.67. The firm has a 50 day simple moving average of $42.45 and a 200 day simple moving average of $46.40.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. On average, equities research analysts forecast that CRISPR Therapeutics will post -5.08 EPS for the current year.

Insider Buying and Selling

In related news, CEO Samarth Kulkarni sold 15,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $55.10, for a total value of $826,500.00. Following the completion of the transaction, the chief executive officer now directly owns 181,540 shares of the company’s stock, valued at $10,002,854. This represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Market Strategies LLC purchased a new stake in CRISPR Therapeutics in the fourth quarter worth about $461,000. KBC Group NV grew its holdings in CRISPR Therapeutics by 2,047.4% in the fourth quarter. KBC Group NV now owns 60,514 shares of the company’s stock worth $2,382,000 after purchasing an additional 57,696 shares during the period. Capital Advisors Inc. OK grew its holdings in CRISPR Therapeutics by 8.1% in the third quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock worth $14,122,000 after purchasing an additional 22,583 shares during the period. Geode Capital Management LLC grew its holdings in CRISPR Therapeutics by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company’s stock worth $47,383,000 after purchasing an additional 35,196 shares during the period. Finally, State Street Corp grew its holdings in CRISPR Therapeutics by 25.0% in the third quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after purchasing an additional 599,304 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

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.