CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Up 3.4% – Here’s What Happened

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price was up 3.4% during trading on Wednesday . The company traded as high as $55.88 and last traded at $53.97. Approximately 2,162,156 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 2,321,332 shares. The stock had previously closed at $52.22.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CRSP shares. Bank of America decreased their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Truist Financial increased their price target on CRISPR Therapeutics from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley increased their price target on CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, February 14th. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a research note on Wednesday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.40.

CRISPR Therapeutics Price Performance

The company has a market cap of $4.60 billion, a PE ratio of -12.26 and a beta of 1.67. The company has a 50-day moving average of $41.89 and a 200 day moving average of $45.98.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. Equities research analysts expect that CRISPR Therapeutics AG will post -5.04 EPS for the current year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of the firm’s 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 sale, the chief executive officer now owns 181,540 shares of the company’s stock, valued at $10,002,854. This trade represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is owned by insiders.

Institutional Trading of CRISPR Therapeutics

Several institutional investors have recently added to or reduced their stakes in CRSP. Blue Trust Inc. lifted its stake in CRISPR Therapeutics by 158.7% in the third quarter. Blue Trust Inc. now owns 3,844 shares of the company’s stock worth $181,000 after purchasing an additional 2,358 shares during the last quarter. Eastern Bank bought a new stake in shares of CRISPR Therapeutics during the third quarter valued at approximately $70,000. International Assets Investment Management LLC bought a new stake in shares of CRISPR Therapeutics during the third quarter valued at approximately $1,825,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of CRISPR Therapeutics by 15.9% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 40,568 shares of the company’s stock valued at $1,906,000 after acquiring an additional 5,567 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of CRISPR Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,080 shares of the company’s stock valued at $146,000 after acquiring an additional 545 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

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.