CRISPR Therapeutics (NASDAQ:CRSP) Trading Up 11.6% – Here’s What Happened

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price was up 11.6% on Thursday . The stock traded as high as $57.88 and last traded at $58.2710. Approximately 562,259 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,737,182 shares. The stock had previously closed at $52.21.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen raised CRISPR Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. UBS Group set a $80.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 12th. Citizens Jmp reiterated a “market outperform” rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Citigroup restated a “market outperform” rating on shares of CRISPR Therapeutics in a report on Tuesday, August 25th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of CRISPR Therapeutics in a research report on Monday, August 31st. 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 one has given a Sell rating to the company. According to data from MarketBeat, CRISPR Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $68.06.

CRISPR Therapeutics Stock Up 8.7%

The company has a market cap of $5.49 billion, a price-to-earnings ratio of -11.94 and a beta of 1.76. The company has a debt-to-equity ratio of 0.34, a quick ratio of 17.85 and a current ratio of 17.85. The business’s 50 day simple moving average is $52.99 and its 200-day simple moving average is $52.82.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, June 30th. The company reported ($0.94) EPS for the quarter. The firm had revenue of $10.18 million during the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. Sell-side analysts expect that CRISPR Therapeutics AG will post -4.47 earnings per share for the current year.

Institutional Trading of CRISPR Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in CRISPR Therapeutics by 175.1% in the second quarter. Versant Capital Management Inc now owns 465 shares of the company’s stock worth $25,000 after acquiring an additional 296 shares in the last quarter. Ramirez Asset Management Inc. bought a new position in shares of CRISPR Therapeutics during the 4th quarter valued at $26,000. Rothschild Investment LLC raised its holdings in shares of CRISPR Therapeutics by 836.7% during the 4th quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock valued at $29,000 after purchasing an additional 502 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of CRISPR Therapeutics by 263.0% during the 4th quarter. Larson Financial Group LLC now owns 882 shares of the company’s stock valued at $46,000 after purchasing an additional 639 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of CRISPR Therapeutics in the 2nd quarter valued at $56,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG (NASDAQ: CRSP) is a biotechnology company focused on developing gene-editing medicines using CRISPR/Cas9 technology. The company’s programs are designed to modify disease-associated genes in human cells, with the goal of treating serious conditions across hematology, oncology, autoimmune disease and regenerative medicine.

Its most advanced product is Casgevy (exa-cel), an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals. Casgevy uses CRISPR/Cas9 gene editing to modify a patient’s blood stem cells and is approved in several markets for eligible patients with sickle cell disease and transfusion-dependent beta thalassemia.