CRISPR Therapeutics (NASDAQ:CRSP) Trading Up 8.7% – Should You Buy?

CRISPR Therapeutics AG (NASDAQ:CRSP) shares were up 8.7% during trading on Tuesday . The company traded as high as $59.50 and last traded at $59.9270. Approximately 447,710 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 1,255,064 shares. The stock had previously closed at $55.15.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRSP. Robert W. Baird cut their price objective on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Wednesday, October 8th. Bank of America upped their price objective on CRISPR Therapeutics from $78.00 to $93.00 and gave the company a “buy” rating in a report on Friday, October 17th. JPMorgan Chase & Co. initiated coverage on CRISPR Therapeutics in a report on Thursday, September 18th. They set an “overweight” rating and a $70.00 target price for the company. Finally, Chardan Capital lowered their price target on shares of CRISPR Therapeutics from $82.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $68.35.

CRISPR Therapeutics Trading Down 2.7%

The firm has a market cap of $5.37 billion, a price-to-earnings ratio of -10.09 and a beta of 1.70. The company’s 50-day moving average is $55.23 and its 200-day moving average is $57.92.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.17) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.15. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. The business had revenue of $0.89 million during the quarter, compared to the consensus estimate of $8.74 million. Equities research analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 50,895 shares of the stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $67.91, for a total value of $3,456,279.45. Following the completion of the transaction, the chief executive officer owned 254,201 shares of the company’s stock, valued at approximately $17,262,789.91. This represents a 16.68% decrease in their ownership of the stock. The transaction 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 1,076 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total transaction of $71,661.60. Following the completion of the sale, the general counsel owned 83,402 shares in the company, valued at approximately $5,554,573.20. The trade was a 1.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 56,213 shares of company stock valued at $3,810,458. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in CRISPR Therapeutics by 5.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,516 shares of the company’s stock worth $228,000 after buying an additional 180 shares during the last quarter. IFP Advisors Inc grew its position in CRISPR Therapeutics by 24.6% during the second quarter. IFP Advisors Inc now owns 916 shares of the company’s stock valued at $45,000 after acquiring an additional 181 shares during the last quarter. Cerity Partners LLC raised its stake in shares of CRISPR Therapeutics by 3.0% during the second quarter. Cerity Partners LLC now owns 6,541 shares of the company’s stock worth $318,000 after acquiring an additional 190 shares in the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of CRISPR Therapeutics by 3.0% during the second quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company’s stock worth $339,000 after acquiring an additional 200 shares in the last quarter. Finally, Optiver Holding B.V. lifted its holdings in shares of CRISPR Therapeutics by 71.4% in the 3rd quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock worth $33,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

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.