CRISPR Therapeutics (NASDAQ:CRSP) Insider Naimish Patel Buys 1,508 Shares of Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) insider Naimish Patel acquired 1,508 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average cost of $32.96 per share, with a total value of $49,703.68. Following the transaction, the insider directly owned 1,508 shares of the company’s stock, valued at $49,703.68. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

CRISPR Therapeutics Trading Down 0.7%

Shares of NASDAQ:CRSP opened at $54.26 on Wednesday. The firm has a 50 day moving average of $54.94 and a 200-day moving average of $58.35. CRISPR Therapeutics AG has a 12 month low of $30.04 and a 12 month high of $78.48. The stock has a market capitalization of $5.17 billion, a PE ratio of -9.71 and a beta of 1.70.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.15. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. The business had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $8.74 million. On average, research analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Hedges Asset Management LLC increased its position in CRISPR Therapeutics by 1.2% in the 4th quarter. Hedges Asset Management LLC now owns 22,775 shares of the company’s stock valued at $1,194,000 after acquiring an additional 275 shares during the period. Bayforest Capital Ltd acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at $68,000. Wealth Enhancement Trust Services Inc. bought a new position in CRISPR Therapeutics during the 4th quarter worth $2,032,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in CRISPR Therapeutics by 31.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,631 shares of the company’s stock worth $243,000 after buying an additional 1,115 shares during the period. Finally, Slow Capital Inc. grew its position in shares of CRISPR Therapeutics by 4.6% in the 4th quarter. Slow Capital Inc. now owns 76,630 shares of the company’s stock valued at $4,018,000 after buying an additional 3,343 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRSP. Wells Fargo & Company set a $75.00 price objective on CRISPR Therapeutics in a research report on Monday, October 13th. Royal Bank Of Canada increased their target price on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, December 23rd. Bank of America dropped their price objective on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Finally, Robert W. Baird cut their target price on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, CRISPR Therapeutics presently has an average rating of “Hold” and a consensus price target of $68.15.

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.