CRISPR Therapeutics (NASDAQ:CRSP) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of CRISPR Therapeutics (NASDAQ:CRSP) to a sell rating in a research note released on Friday.

Several other brokerages have also weighed in on CRSP. Barclays upped their target price on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, February 12th. HC Wainwright reiterated a “buy” rating and issued a $65.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, February 13th. The Goldman Sachs Group lowered their price target on shares of CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Evercore ISI upgraded shares of CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and increased their price target for the company from $60.00 to $99.00 in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.11.

CRISPR Therapeutics Trading Up 0.1 %

Shares of CRSP opened at $41.22 on Friday. The firm’s 50-day moving average is $43.09 and its two-hundred day moving average is $45.37. CRISPR Therapeutics has a twelve month low of $36.52 and a twelve month high of $73.09. The firm has a market capitalization of $3.54 billion, a P/E ratio of -9.43 and a beta of 1.77.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate 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%. Analysts predict that CRISPR Therapeutics will post -5.16 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds have recently made changes to their positions in CRSP. Wood Tarver Financial Group LLC purchased a new position in shares of CRISPR Therapeutics in the 4th quarter valued at $30,000. Ameriflex Group Inc. acquired a new stake in CRISPR Therapeutics during the 4th quarter valued at $36,000. Highline Wealth Partners LLC acquired a new stake in CRISPR Therapeutics during the 4th quarter valued at $39,000. Western Pacific Wealth Management LP grew its holdings in CRISPR Therapeutics by 100.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in CRISPR Therapeutics during the 3rd quarter valued at $40,000. 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.