CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Up 6.6% – Still a Buy?

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price rose 6.6% during trading on Tuesday . The company traded as high as $60.44 and last traded at $60.8750. Approximately 254,694 shares were traded during trading, a decline of 86% from the average daily volume of 1,775,483 shares. The stock had previously closed at $57.08.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRSP. Wall Street Zen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Sanford C. Bernstein increased their price target on CRISPR Therapeutics from $50.00 to $56.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. UBS Group set a $80.00 target price on shares of CRISPR Therapeutics in a research report on Friday, June 12th. Morgan Stanley set a $60.00 price objective on CRISPR Therapeutics and gave the stock an “equal weight” rating in a research note on Thursday, June 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.06.

CRISPR Therapeutics Stock Performance

The firm has a 50 day moving average of $53.14 and a two-hundred day moving average of $52.43. The stock has a market cap of $5.84 billion, a P/E ratio of -12.68 and a beta of 1.74. 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 quarterly earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share (EPS) for the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. The firm had revenue of $10.18 million for the quarter. On average, research analysts predict that CRISPR Therapeutics AG will post -4.47 EPS for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, insider Naimish Patel sold 3,786 shares of CRISPR Therapeutics 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 in the company, valued at approximately $1,076,636.34. The trade was a 16.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Large investors have recently modified their holdings of the stock. ARK Investment Management LLC boosted its stake in CRISPR Therapeutics by 7.5% in the 4th quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock valued at $551,777,000 after buying an additional 735,084 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of CRISPR Therapeutics by 19.4% in the 4th quarter. Orbis Allan Gray Ltd now owns 5,950,145 shares of the company’s stock valued at $312,026,000 after purchasing an additional 968,060 shares in the last quarter. Capital International Investors grew its holdings in shares of CRISPR Therapeutics by 4.3% in the 4th quarter. Capital International Investors now owns 5,892,745 shares of the company’s stock worth $309,016,000 after purchasing an additional 243,487 shares during the last quarter. California State Teachers Retirement System increased its position in shares of CRISPR Therapeutics by 5,188.9% during the 2nd quarter. California State Teachers Retirement System now owns 5,354,083 shares of the company’s stock worth $292,012,000 after purchasing an additional 5,252,851 shares in the last quarter. Finally, State Street Corp lifted its holdings in CRISPR Therapeutics by 35.6% during the 2nd quarter. State Street Corp now owns 3,270,596 shares of the company’s stock valued at $159,082,000 after purchasing an additional 859,334 shares during the last quarter. 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.