CRISPR Therapeutics (NASDAQ:CRSP) Shares Up 5.7% – Should You Buy?

CRISPR Therapeutics AG (NASDAQ:CRSP) traded up 5.7% during trading on Friday. The company traded as high as $51.75 and last traded at $53.33. Approximately 143,255 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,748,777 shares. The stock had previously closed at $50.44.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CRSP. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Friday, July 17th. HC Wainwright reissued a “buy” rating on shares of CRISPR Therapeutics in a research report on Friday. Morgan Stanley set a $60.00 price target on CRISPR Therapeutics and gave the stock an “equal weight” rating in a research note on Thursday, June 11th. Citizens Jmp restated a “market outperform” rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Finally, Citigroup restated a “market outperform” rating on shares of CRISPR Therapeutics in a research report on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.94.

CRISPR Therapeutics Trading Up 5.8%

The company’s 50-day moving average price is $55.03 and its 200-day moving average price is $53.08. The firm has a market capitalization of $5.16 billion, a PE ratio of -11.22 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.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share (EPS) for the quarter. The company 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%. On average, sell-side analysts expect that CRISPR Therapeutics AG will post -4.47 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel James R. Kasinger sold 1,990 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $60.04, for a total transaction of $119,479.60. Following the completion of the sale, the general counsel directly owned 94,784 shares of the company’s stock, valued at $5,690,831.36. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ali Behbahani sold 13,679 shares of the firm’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $57.09, for a total transaction of $780,934.11. Following the completion of the sale, the director owned 16,637 shares of the company’s stock, valued at $949,806.33. This trade represents a 45.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,069 shares of company stock valued at $1,526,910 over the last ninety days. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Affinity Asset Advisors LLC acquired a new stake in CRISPR Therapeutics in the 1st quarter worth about $7,136,000. KBC Group NV increased its stake in shares of CRISPR Therapeutics by 3,999.9% during the 1st quarter. KBC Group NV now owns 116,847 shares of the company’s stock valued at $5,558,000 after acquiring an additional 113,997 shares during the last quarter. Shah Wealth Advisors LLC acquired a new position in shares of CRISPR Therapeutics during the 2nd quarter valued at about $3,767,000. Monashee Investment Management LLC purchased a new position in shares of CRISPR Therapeutics during the 1st quarter worth about $2,378,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of CRISPR Therapeutics by 613.5% during the 1st quarter. Quantinno Capital Management LP now owns 47,989 shares of the company’s stock worth $2,283,000 after acquiring an additional 41,263 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG (NASDAQ: CRSP) is a biotechnology company focused on developing gene-editing medicines based on CRISPR/Cas9 technology. The company aims to treat serious diseases by precisely modifying genetic material in patients’ cells, with research programs spanning hematology, oncology, autoimmune diseases, and regenerative medicine.

Its lead product, CASGEVY (exagamglogene autotemcel), is a CRISPR/Cas9-based cell therapy developed with Vertex Pharmaceuticals. CASGEVY is approved in multiple markets, including the United States, United Kingdom, and European Union, for certain patients with sickle cell disease and transfusion-dependent beta thalassemia.