CRISPR Therapeutics (NASDAQ:CRSP) Shares Up 9.9% – Time to Buy?

CRISPR Therapeutics AG (NASDAQ:CRSP) shot up 9.9% on Thursday . The stock traded as high as $60.29 and last traded at $61.1490. Approximately 402,703 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,812,992 shares. The stock had previously closed at $55.62.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wall Street Zen raised CRISPR Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Monday, April 20th. Sanford C. Bernstein increased their price target on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Evercore reissued an “outperform” rating and issued a $76.00 price target on shares of CRISPR Therapeutics in a report on Monday, May 11th. Finally, Citigroup restated a “market outperform” rating on shares of CRISPR Therapeutics in a research report on Wednesday, May 27th. One equities 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.78.

CRISPR Therapeutics Stock Up 7.5%

The company has a 50 day moving average of $52.62 and a 200-day moving average of $53.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 17.97 and a quick ratio of 17.96. The company has a market cap of $5.77 billion, a P/E ratio of -9.61 and a beta of 1.71.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%.The business had revenue of $1.46 million during the quarter. On average, equities analysts predict that CRISPR Therapeutics AG will post -4.89 earnings per share for the current year.

Insider Activity at CRISPR Therapeutics

In related news, insider Naimish Patel sold 3,786 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $55.62, for a total value of $210,577.32. Following the transaction, the insider directly owned 19,357 shares in the company, valued at approximately $1,076,636.34. This represents a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CRSP. Royal Bank of Canada increased its holdings in shares of CRISPR Therapeutics by 28.2% in the 1st quarter. Royal Bank of Canada now owns 142,696 shares of the company’s stock worth $4,856,000 after buying an additional 31,392 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of CRISPR Therapeutics during the 1st quarter worth $861,000. Woodline Partners LP grew its position in CRISPR Therapeutics by 34.3% in the first quarter. Woodline Partners LP now owns 136,483 shares of the company’s stock worth $4,645,000 after acquiring an additional 34,883 shares in the last quarter. Prudential Financial Inc. purchased a new position in CRISPR Therapeutics in the second quarter worth $237,000. Finally, Invesco Ltd. increased its stake in CRISPR Therapeutics by 138.4% in the second quarter. Invesco Ltd. now owns 66,648 shares of the company’s stock valued at $3,242,000 after acquiring an additional 38,691 shares during the last quarter. 69.20% of the stock is owned by hedge funds and other 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.