CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Up 9.9% – What’s Next?

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price rose 9.9% during mid-day trading on Thursday . The company traded as high as $60.29 and last traded at $61.1490. 402,703 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,812,992 shares. The stock had previously closed at $55.62.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRSP. Truist Financial upgraded CRISPR Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Piper Sandler restated an “overweight” rating and set a $110.00 price target (up from $105.00) on shares of CRISPR Therapeutics in a research report on Tuesday, March 17th. Sanford C. Bernstein raised their price objective on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Evercore reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, May 11th. Finally, Wall Street Zen raised shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, CRISPR Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.78.

CRISPR Therapeutics Stock Performance

The stock has a market capitalization of $5.77 billion, a P/E ratio of -9.61 and a beta of 1.71. The company has a 50 day simple moving average of $52.62 and a 200-day simple moving average of $53.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 17.97 and a quick ratio of 17.96.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%.The firm had revenue of $1.46 million for the quarter. On average, equities analysts forecast that CRISPR Therapeutics AG will post -4.89 EPS for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,786 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $55.62, for a total transaction of $210,577.32. Following the sale, the insider directly owned 19,357 shares of the company’s stock, valued at $1,076,636.34. This represents a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Large investors have recently modified their holdings of the business. Cerity Partners LLC lifted its stake in shares of CRISPR Therapeutics by 3.0% during the 2nd quarter. Cerity Partners LLC now owns 6,541 shares of the company’s stock valued at $318,000 after buying an additional 190 shares in the last quarter. Peapack Gladstone Financial Corp raised its holdings in CRISPR Therapeutics by 3.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company’s stock valued at $339,000 after acquiring an additional 200 shares during the period. US Bancorp DE raised its holdings in CRISPR Therapeutics by 4.5% during the 3rd quarter. US Bancorp DE now owns 5,777 shares of the company’s stock valued at $374,000 after acquiring an additional 249 shares during the period. Allworth Financial LP lifted its position in shares of CRISPR Therapeutics by 2.7% during the fourth quarter. Allworth Financial LP now owns 9,550 shares of the company’s stock worth $501,000 after acquiring an additional 249 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in shares of CRISPR Therapeutics by 6.6% during the fourth quarter. Meeder Advisory Services Inc. now owns 4,392 shares of the company’s stock worth $230,000 after acquiring an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

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.