CRISPR Therapeutics (NASDAQ:CRSP) Trading 3.7% Higher – Still a Buy?

CRISPR Therapeutics AG (NASDAQ:CRSP) rose 3.7% during mid-day trading on Wednesday . The company traded as high as $42.16 and last traded at $41.99. Approximately 517,363 shares changed hands during trading, a decline of 73% from the average daily volume of 1,902,664 shares. The stock had previously closed at $40.49.

Analyst Ratings Changes

CRSP has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, January 14th. HC Wainwright started coverage on CRISPR Therapeutics in a research report on Monday. They set a “buy” rating and a $65.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and set a $86.00 target price on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Barclays cut their price objective on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Finally, StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a report on Monday, December 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.59.

CRISPR Therapeutics Stock Up 3.7 %

The stock has a 50 day simple moving average of $43.37 and a 200 day simple moving average of $46.85. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -14.83 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. The company had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. During the same quarter last year, the company earned ($1.41) earnings per share. Equities analysts expect that CRISPR Therapeutics AG will post -5.1 earnings per share for the current year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.62, for a total transaction of $1,668,600.00. Following the sale, the chief executive officer now owns 196,540 shares in the company, valued at $10,931,554.80. This trade represents a 13.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in CRISPR Therapeutics in the third quarter worth about $40,000. Darwin Wealth Management LLC purchased a new position in shares of CRISPR Therapeutics in the 3rd quarter valued at approximately $43,000. Highline Wealth Partners LLC purchased a new stake in CRISPR Therapeutics in the fourth quarter worth $39,000. Western Pacific Wealth Management LP raised its holdings in CRISPR Therapeutics by 100.0% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after purchasing an additional 500 shares in the last quarter. Finally, Eastern Bank purchased a new position in CRISPR Therapeutics during the third quarter valued at $70,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

About CRISPR Therapeutics

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.