CRISPR Therapeutics (NASDAQ:CRSP) Trading Up 11.2% – What’s Next?

CRISPR Therapeutics AG (NASDAQ:CRSP) shares were up 11.2% on Wednesday . The company traded as high as $58.37 and last traded at $58.8950. Approximately 2,092,143 shares changed hands during mid-day trading, an increase of 18% from the average session volume of 1,767,027 shares. The stock had previously closed at $52.97.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRSP. Sanford C. Bernstein raised their price target on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Friday, July 17th. Wall Street Zen raised CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, August 6th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research note on Monday, July 6th. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.06.

CRISPR Therapeutics Trading Up 2.7%

The firm has a 50-day simple moving average of $52.86 and a 200-day simple moving average of $52.33. The company has a quick ratio of 17.85, a current ratio of 17.85 and a debt-to-equity ratio of 0.34. The stock has a market cap of $5.77 billion, a PE ratio of -12.54 and a beta of 1.74.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share for the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. The company had revenue of $10.18 million during the quarter. Equities analysts forecast that CRISPR Therapeutics AG will post -4.47 earnings per share for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,786 shares of CRISPR Therapeutics stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $55.62, for a total transaction of $210,577.32. Following the completion of the transaction, the insider owned 19,357 shares of the company’s stock, valued at $1,076,636.34. The trade was a 16.36% decrease in their position. The transaction was disclosed in a filing 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. 5.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Large investors have recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in CRISPR Therapeutics by 175.1% during the 2nd quarter. Versant Capital Management Inc now owns 465 shares of the company’s stock worth $25,000 after acquiring an additional 296 shares during the period. Mcguire Capital Advisors Inc. bought a new position in CRISPR Therapeutics in the 4th quarter valued at $25,000. Ramirez Asset Management Inc. purchased a new position in shares of CRISPR Therapeutics during the 4th quarter valued at $26,000. Rothschild Investment LLC increased its holdings in shares of CRISPR Therapeutics by 836.7% in the fourth quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock worth $29,000 after purchasing an additional 502 shares during the period. Finally, Oakworth Capital Inc. bought a new position in shares of CRISPR Therapeutics in the fourth quarter worth $34,000. 69.20% of the stock is currently owned by institutional investors.

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.