CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Up 4.5%

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) traded up 4.5% on Tuesday . The company traded as high as $58.68 and last traded at $58.15. 391,733 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 1,814,702 shares. The stock had previously closed at $55.66.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup raised their target price on CRISPR Therapeutics from $88.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Chardan Capital raised their price objective on CRISPR Therapeutics from $110.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Barclays raised their price objective on CRISPR Therapeutics from $61.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. TheStreet raised CRISPR Therapeutics from a “d+” rating to a “c” rating in a report on Friday, February 23rd. Finally, Morgan Stanley raised their price objective on CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, CRISPR Therapeutics currently has a consensus rating of “Hold” and an average price target of $76.29.

CRISPR Therapeutics Price Performance

The company has a 50-day moving average price of $71.75 and a two-hundred day moving average price of $63.80.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.95. The business had revenue of $201.20 million during the quarter, compared to the consensus estimate of $148.72 million. During the same period last year, the business posted ($1.41) earnings per share. The business’s revenue was up 3253.3% on a year-over-year basis. On average, research analysts predict that CRISPR Therapeutics AG will post -6.24 earnings per share for the current year.

Insider Transactions at CRISPR Therapeutics

In related news, General Counsel James R. Kasinger sold 1,913 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the completion of the sale, the general counsel now directly owns 57,371 shares of the company’s stock, valued at approximately $4,570,747.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel James R. Kasinger sold 2,801 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $78.26, for a total value of $219,206.26. Following the completion of the sale, the general counsel now directly owns 60,070 shares of the company’s stock, valued at approximately $4,701,078.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel James R. Kasinger sold 1,913 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $79.67, for a total value of $152,408.71. Following the completion of the sale, the general counsel now directly owns 57,371 shares of the company’s stock, valued at $4,570,747.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,992 shares of company stock valued at $9,157,835. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CRSP. ARK Investment Management LLC boosted its stake in CRISPR Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock valued at $534,360,000 after purchasing an additional 1,372,986 shares during the last quarter. Norges Bank acquired a new position in CRISPR Therapeutics during the 4th quarter valued at about $38,661,000. Westfield Capital Management Co. LP acquired a new position in CRISPR Therapeutics during the 3rd quarter valued at about $13,506,000. Baillie Gifford & Co. boosted its stake in CRISPR Therapeutics by 81.1% during the 3rd quarter. Baillie Gifford & Co. now owns 441,063 shares of the company’s stock valued at $20,020,000 after purchasing an additional 197,469 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. acquired a new position in CRISPR Therapeutics during the 4th quarter valued at about $10,848,000. Institutional investors and hedge funds 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.