Brokerages Set CRISPR Therapeutics AG (NASDAQ:CRSP) Target Price at $66.06

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) have received an average rating of “Moderate Buy” from the nineteen analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $65.4706.

CRSP has been the topic of several research analyst reports. Sanford C. Bernstein raised their price target on CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Truist Financial upgraded CRISPR Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Evercore restated an “outperform” rating and set a $76.00 price target on shares of CRISPR Therapeutics in a research report on Monday, May 11th. Wall Street Zen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Bank of America cut their price target on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd.

Insiders Place Their Bets

In related news, insider Naimish Patel sold 3,150 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $48.26, for a total transaction of $152,019.00. Following the sale, the insider directly owned 13,143 shares in the company, valued at approximately $634,281.18. This represents a 19.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel James R. Kasinger sold 3,182 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $46.78, for a total transaction of $148,853.96. Following the sale, the general counsel owned 94,308 shares in the company, valued at $4,411,728.24. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 51,828 shares of company stock worth $2,578,097 over the last three months. Company insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

A number of large investors have recently made changes to their positions in the company. GSK plc purchased a new position in CRISPR Therapeutics in the fourth quarter valued at approximately $168,890,000. Orbis Allan Gray Ltd lifted its holdings in shares of CRISPR Therapeutics by 76.9% during the second quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock worth $134,467,000 after purchasing an additional 1,201,600 shares during the period. SR One Capital Management LP lifted its holdings in shares of CRISPR Therapeutics by 94.4% during the third quarter. SR One Capital Management LP now owns 2,038,763 shares of the company’s stock worth $132,132,000 after purchasing an additional 989,812 shares during the period. State Street Corp lifted its holdings in shares of 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 period. Finally, ARK Investment Management LLC lifted its holdings in CRISPR Therapeutics by 7.5% in the fourth 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 period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Trading Up 0.3%

Shares of CRSP opened at $48.56 on Tuesday. CRISPR Therapeutics has a 52-week low of $35.38 and a 52-week high of $78.48. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average is $51.31 and its two-hundred day moving average is $53.57. The stock has a market cap of $4.68 billion, a PE ratio of -7.81 and a beta of 1.74.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share for the quarter. The firm had revenue of $1.46 million for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. Research analysts forecast that CRISPR Therapeutics will post -5.08 earnings per share for the current fiscal year.

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.