CRISPR Therapeutics (NASDAQ:CRSP) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of CRISPR Therapeutics AG (NASDAQ:CRSPGet Rating) saw unusually-strong trading volume on Wednesday after Piper Sandler raised their price target on the stock from $115.00 to $121.00. Piper Sandler currently has an overweight rating on the stock. Approximately 69,130 shares changed hands during trading, a decline of 96% from the previous session’s volume of 1,732,344 shares.The stock last traded at $57.02 and had previously closed at $64.67.

CRSP has been the subject of a number of other reports. Chardan Capital decreased their price objective on CRISPR Therapeutics from $171.00 to $168.00 in a report on Tuesday, May 10th. Needham & Company LLC decreased their price objective on CRISPR Therapeutics from $170.00 to $122.00 in a report on Friday, May 13th. Royal Bank of Canada decreased their price target on CRISPR Therapeutics from $95.00 to $85.00 in a research note on Tuesday, May 10th. StockNews.com started coverage on CRISPR Therapeutics in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Finally, BMO Capital Markets started coverage on CRISPR Therapeutics in a research note on Thursday, June 16th. They issued an “outperform” rating and a $98.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.44.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of CRISPR Therapeutics in the first quarter valued at approximately $289,982,000. Nikko Asset Management Americas Inc. lifted its holdings in CRISPR Therapeutics by 7.0% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,619,747 shares of the company’s stock worth $291,044,000 after purchasing an additional 300,276 shares during the last quarter. Capital International Investors lifted its holdings in CRISPR Therapeutics by 0.3% during the 1st quarter. Capital International Investors now owns 3,602,152 shares of the company’s stock worth $226,107,000 after purchasing an additional 10,992 shares during the last quarter. BlackRock Inc. lifted its holdings in CRISPR Therapeutics by 79.2% during the 1st quarter. BlackRock Inc. now owns 2,278,774 shares of the company’s stock worth $143,038,000 after purchasing an additional 1,007,246 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in CRISPR Therapeutics by 42.1% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,316,123 shares of the company’s stock worth $99,736,000 after purchasing an additional 390,209 shares during the last quarter. 56.12% of the stock is owned by institutional investors.

The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 18.05 and a beta of 2.04. The company has a fifty day moving average of $57.31 and a two-hundred day moving average of $63.10.

CRISPR Therapeutics (NASDAQ:CRSPGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($2.32) earnings per share for the quarter, missing the consensus estimate of ($1.94) by ($0.38). The firm had revenue of $0.94 million for the quarter, compared to analyst estimates of $2.45 million. CRISPR Therapeutics had a return on equity of 12.77% and a net margin of 34.04%. The business’s revenue for the quarter was up 74.4% on a year-over-year basis. During the same period in the previous year, the business posted ($1.51) earnings per share. As a group, research analysts expect that CRISPR Therapeutics AG will post -8.99 earnings per share for the current fiscal year.

About CRISPR Therapeutics (NASDAQ:CRSP)

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.

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