CRISPR Therapeutics (NASDAQ:CRSP) Upgraded to Strong-Buy at Truist Financial

CRISPR Therapeutics (NASDAQ:CRSP) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts also recently commented on CRSP. TD Cowen boosted their target price on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. Needham & Company LLC raised their price target on shares of CRISPR Therapeutics from $80.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective (up from $105.00) on shares of CRISPR Therapeutics in a research note on Tuesday, March 17th. Evercore reiterated an “outperform” rating and issued a $74.00 price objective on shares of CRISPR Therapeutics in a report on Friday, February 13th. Finally, Citigroup reissued a “buy” rating on shares of CRISPR Therapeutics in a research report on Monday, February 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.53.

CRISPR Therapeutics Price Performance

CRSP opened at $47.09 on Wednesday. The company has a market capitalization of $4.52 billion, a PE ratio of -7.22 and a beta of 1.72. CRISPR Therapeutics has a fifty-two week low of $30.04 and a fifty-two week high of $78.48. The business has a 50-day moving average of $52.70 and a 200-day moving average of $56.95.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($1.37) EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted ($1.01) EPS. The company’s quarterly revenue was down 97.8% compared to the same quarter last year. On average, equities research analysts expect that CRISPR Therapeutics will post -5.16 earnings per share for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 60,000 shares of CRISPR Therapeutics 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 transaction, the chief executive officer owned 134,201 shares of the company’s stock, valued at $8,082,926.23. This trade represents a 30.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel James R. Kasinger sold 3,450 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $48.26, for a total transaction of $166,497.00. Following the completion of the sale, the general counsel owned 91,240 shares of the company’s stock, valued at $4,403,242.40. The trade was a 3.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 141,828 shares of company stock worth $7,744,397 over the last 90 days. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Fund Advisors of America Inc FL bought a new stake in CRISPR Therapeutics during the fourth quarter valued at about $398,000. Virtu Financial LLC bought a new position in shares of CRISPR Therapeutics in the fourth quarter worth about $862,000. Mcguire Capital Advisors Inc. acquired a new position in shares of CRISPR Therapeutics during the 4th quarter worth about $25,000. Axxcess Wealth Management LLC lifted its position in shares of CRISPR Therapeutics by 6.2% during the 4th quarter. Axxcess Wealth Management LLC now owns 13,022 shares of the company’s stock worth $683,000 after purchasing an additional 764 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in CRISPR Therapeutics by 5.7% during the 4th quarter. Corient Private Wealth LLC now owns 8,566 shares of the company’s stock valued at $449,000 after purchasing an additional 460 shares during the period. 69.20% of the stock is currently owned by institutional investors.

Trending Headlines about CRISPR Therapeutics

Here are the key news stories impacting CRISPR Therapeutics this week:

• Positive Sentiment: Zacks highlights why CRISPR “outpaced the stock market” today, calling attention to recent investor interest and momentum that can attract short-term buying. Read More.
• Neutral Sentiment: CRISPR has been a “trending” name on Zacks/Yahoo finance pages — elevated attention can boost volume and volatility but doesn’t by itself change fundamentals. Read More. · Read More.
• Neutral Sentiment: Multiple short-interest reports show reported short interest of zero shares as of March 24 — the figures appear to contain data or reporting anomalies (NaN increases). Practically, reported zero short interest reduces the likelihood of a short-squeeze narrative, but the data should be treated cautiously until clarified by exchanges or data vendors.
• Negative Sentiment: CEO Samarth Kulkarni sold 10,020 shares on March 23 at an average ~$46.78 (≈$468.7K). Insider sales can be interpreted negatively by some investors despite the CEO retaining a substantial stake (255,501 shares). SEC filing: Read More.
• Negative Sentiment: General Counsel James Kasinger sold 3,182 shares on March 23 at the same average price (~$46.78). Additional insider selling amplifies the negative signal for some investors, though both insiders remain significant holders. SEC filing: Read More.

CRISPR Therapeutics Company Profile

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.