HC Wainwright Reiterates “Buy” Rating for CRISPR Therapeutics (NASDAQ:CRSP)

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $80.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 31.64% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Citigroup reiterated a “market outperform” rating on shares of CRISPR Therapeutics in a research report on Wednesday, May 27th. Sanford C. Bernstein boosted their price objective on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Citizens Jmp reaffirmed a “market outperform” rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a report on Monday. Truist Financial upgraded CRISPR Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Evercore restated an “outperform” rating and set a $76.00 target price on shares of CRISPR Therapeutics in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.78.

CRISPR Therapeutics Stock Performance

CRISPR Therapeutics stock opened at $60.77 on Wednesday. The stock has a 50-day simple moving average of $53.16 and a 200 day simple moving average of $53.13. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32. CRISPR Therapeutics has a 12-month low of $44.12 and a 12-month high of $78.48. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of -9.77 and a beta of 1.71.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($1.28) EPS for the quarter. The company had revenue of $1.46 million for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%. On average, research analysts anticipate that CRISPR Therapeutics will post -4.89 earnings per share for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In related news, insider Naimish Patel sold 3,786 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $55.62, for a total value of $210,577.32. Following the completion of the sale, the insider 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 SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors have recently modified their holdings of CRSP. Versant Capital Management Inc boosted its stake 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 last quarter. Mcguire Capital Advisors Inc. bought a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $25,000. Ramirez Asset Management Inc. acquired a new stake in CRISPR Therapeutics in the fourth quarter worth $26,000. Rothschild Investment LLC grew its holdings in shares of CRISPR Therapeutics by 836.7% in the 4th quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock valued at $29,000 after buying an additional 502 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of CRISPR Therapeutics by 196.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company’s stock valued at $30,000 after buying an additional 382 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.