CRISPR Therapeutics (NASDAQ:CRSP) Shares Up 11.2% – Still a Buy?

CRISPR Therapeutics AG (NASDAQ:CRSP) shares rose 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 were traded during trading, an increase of 54% from the average daily volume of 1,737,863 shares. The stock had previously closed at $55.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CRSP shares. Citizens Jmp reduced their target price on shares of CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating on the stock in a report on Friday, January 30th. Bank of America cut their price target on CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Morgan Stanley reiterated an “underweight” rating and issued a $33.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, February 17th. Robert W. Baird cut their target price on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada raised their target price on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the company a “sector perform” rating in a report on Tuesday, November 11th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, CRISPR Therapeutics has an average rating of “Hold” and a consensus price target of $64.24.

CRISPR Therapeutics Trading Up 11.8%

The firm has a market cap of $5.93 billion, a price-to-earnings ratio of -9.47 and a beta of 1.72. The firm has a 50 day moving average price of $53.82 and a 200-day moving average price of $57.23.

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

Insider Buying and Selling at CRISPR Therapeutics

In related news, General Counsel James R. Kasinger sold 2,112 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $52.58, for a total transaction of $111,048.96. Following the sale, the general counsel owned 85,115 shares in the company, valued at approximately $4,475,346.70. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 6,967 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $52.58, for a total value of $366,324.86. Following the completion of the transaction, the chief executive officer owned 226,106 shares of the company’s stock, valued at $11,888,653.48. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 99,079 shares of company stock worth $5,643,674 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its stake in shares of CRISPR Therapeutics by 7.5% during the 4th quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock valued at $551,777,000 after acquiring an additional 735,084 shares during the last quarter. Orbis Allan Gray Ltd boosted its position in shares of CRISPR Therapeutics by 19.4% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,950,145 shares of the company’s stock worth $312,026,000 after acquiring an additional 968,060 shares during the last quarter. Capital International Investors grew its holdings in CRISPR Therapeutics by 4.3% in the fourth quarter. Capital International Investors now owns 5,892,745 shares of the company’s stock valued at $309,016,000 after purchasing an additional 243,487 shares during the period. State Street Corp increased its position in CRISPR Therapeutics by 35.6% during the second quarter. State Street Corp now owns 3,270,596 shares of the company’s stock worth $159,082,000 after purchasing an additional 859,334 shares during the last quarter. Finally, GSK plc purchased a new position in CRISPR Therapeutics during the fourth quarter worth approximately $168,890,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.