CRISPR Therapeutics (NASDAQ:CRSP) Trading 0.5% Higher

CRISPR Therapeutics AG (NASDAQ:CRSP) shot up 0.5% on Wednesday . The company traded as high as $57.78 and last traded at $56.72. 278,122 shares were traded during trading, a decline of 85% from the average session volume of 1,806,296 shares. The stock had previously closed at $56.41.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRSP. TheStreet raised CRISPR Therapeutics from a “d+” rating to a “c” rating in a research note on Friday, February 23rd. Wolfe Research initiated coverage on CRISPR Therapeutics in a research note on Thursday, February 15th. They set a “peer perform” rating on the stock. Barclays upped their price target on CRISPR Therapeutics from $61.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of CRISPR Therapeutics in a research note on Thursday, April 11th. Finally, Wells Fargo & Company upped their price target on CRISPR Therapeutics from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.29.

CRISPR Therapeutics Price Performance

The business has a fifty day moving average price of $71.13 and a 200 day moving average price of $63.73.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.95. The company had revenue of $201.20 million for the quarter, compared to analyst estimates of $148.72 million. During the same period in the previous year, the business posted ($1.41) earnings per share. The firm’s revenue was up 3253.3% compared to the same quarter last year. As a group, sell-side analysts forecast that CRISPR Therapeutics AG will post -6.24 earnings per share for the current year.

Insider Activity

In other news, CEO Samarth Kulkarni sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the chief executive officer now directly owns 187,377 shares of the company’s stock, valued at approximately $15,057,615.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel James R. Kasinger sold 1,913 shares of CRISPR Therapeutics stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the completion of the sale, the general counsel now owns 57,371 shares of the company’s stock, valued at $4,570,747.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Samarth Kulkarni sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the transaction, the chief executive officer now owns 187,377 shares in the company, valued at approximately $15,057,615.72. The disclosure for this sale can be found here. Insiders sold 133,992 shares of company stock valued at $9,157,835 in the last three months. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. acquired a new position in shares of CRISPR Therapeutics during the fourth quarter worth about $32,000. Bourgeon Capital Management LLC lifted its stake in shares of CRISPR Therapeutics by 1,000.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. CWM LLC increased its position in shares of CRISPR Therapeutics by 80.7% during the third quarter. CWM LLC now owns 582 shares of the company’s stock worth $26,000 after acquiring an additional 260 shares during the last quarter. NBC Securities Inc. increased its position in shares of CRISPR Therapeutics by 257.6% during the first quarter. NBC Securities Inc. now owns 608 shares of the company’s stock worth $41,000 after acquiring an additional 438 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of CRISPR Therapeutics during the fourth quarter worth about $41,000. Institutional investors and hedge funds 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.