CRISPR Therapeutics (NASDAQ:CRSP) Trading 11.2% Higher – Time to Buy?

CRISPR Therapeutics AG (NASDAQ:CRSP) was up 11.2% during mid-day trading on Thursday . The stock traded as high as $61.15 and last traded at $61.4080. Approximately 2,667,641 shares changed hands during trading, an increase of 54% from the average daily volume of 1,737,863 shares. The stock had previously closed at $55.20.

Analyst Ratings Changes

CRSP has been the topic of several research reports. Needham & Company LLC increased their target price on CRISPR Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Citigroup reaffirmed a “buy” rating on shares of CRISPR Therapeutics in a research note on Monday, February 16th. Bank of America decreased their target price on CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Citizens Jmp dropped their target price on shares of CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a research report on Friday, January 30th. Finally, Morgan Stanley restated an “underweight” rating and issued a $33.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, February 17th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus target price of $64.24.

CRISPR Therapeutics Price Performance

The stock has a market capitalization of $5.93 billion, a P/E ratio of -9.47 and a beta of 1.72. The company has a fifty day moving average of $53.82 and a two-hundred day moving average of $57.23.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.22). CRISPR Therapeutics had a negative net margin of 16,569.77% and a negative return on equity of 26.31%. The firm had revenue of $0.86 million during the quarter, compared to the consensus estimate of $4.72 million. During the same quarter last year, the firm posted ($1.01) earnings per share. CRISPR Therapeutics’s revenue was down 97.8% compared to the same quarter last year. As a group, equities research analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $60.23, for a total value of $3,613,800.00. Following the completion of the sale, the chief executive officer owned 134,201 shares in the company, valued at approximately $8,082,926.23. This represents a 30.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel James R. Kasinger sold 2,112 shares of CRISPR Therapeutics stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $52.58, for a total value of $111,048.96. Following the sale, the general counsel owned 85,115 shares of the company’s stock, valued at approximately $4,475,346.70. This represents a 2.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 99,079 shares of company stock worth $5,643,674. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Large investors have recently modified their holdings of the stock. Mcguire Capital Advisors Inc. acquired a new stake in CRISPR Therapeutics during the 4th quarter valued at $25,000. Ramirez Asset Management Inc. bought a new position in shares of CRISPR Therapeutics in the fourth quarter valued at about $26,000. Rothschild Investment LLC lifted its position in CRISPR Therapeutics by 836.7% during the 4th quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock worth $29,000 after buying an additional 502 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in CRISPR Therapeutics by 196.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company’s stock worth $30,000 after acquiring an additional 382 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in CRISPR Therapeutics during the 2nd quarter worth about $33,000. 69.20% of the stock is currently owned by institutional investors.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.