CRISPR Therapeutics AG (NASDAQ:CRSP) Receives Average Rating of “Hold” from Brokerages

Posted by Lauren Steadman on Feb 4th, 2023

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP – Get Rating) have received an average recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $98.22.

CRSP has been the subject of a number of recent research reports. Morgan Stanley assumed coverage on shares of CRISPR Therapeutics in a report on Tuesday, October 11th. They issued an “underweight” rating and a $37.00 price objective for the company. EF Hutton Acquisition Co. I began coverage on shares of CRISPR Therapeutics in a research note on Thursday, January 5th. They set a “buy” rating and a $75.00 price objective for the company. Credit Suisse Group cut their target price on CRISPR Therapeutics from $90.00 to $78.00 in a research note on Wednesday, November 2nd. Citigroup cut their target price on CRISPR Therapeutics from $83.00 to $63.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 23rd. Finally, SVB Leerink raised their target price on CRISPR Therapeutics from $75.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday, November 7th.

Insiders Place Their Bets

In other news, CEO Samarth Kulkarni sold 25,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $40.93, for a total transaction of $1,023,250.00. Following the completion of the transaction, the chief executive officer now directly owns 369,111 shares in the company, valued at $15,107,713.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 75,000 shares of company stock worth $3,660,750 over the last three months. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several large investors have recently made changes to their positions in the business. Capital International Investors lifted its holdings in shares of CRISPR Therapeutics by 0.3% during the first quarter. Capital International Investors now owns 3,602,152 shares of the company’s stock valued at $226,107,000 after purchasing an additional 10,992 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of CRISPR Therapeutics by 158.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,014,551 shares of the company’s stock valued at $183,194,000 after purchasing an additional 1,848,437 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of CRISPR Therapeutics by 9.0% during the third quarter. BlackRock Inc. now owns 2,346,584 shares of the company’s stock valued at $153,350,000 after purchasing an additional 194,458 shares during the last quarter. FMR LLC lifted its holdings in shares of CRISPR Therapeutics by 28.3% during the second quarter. FMR LLC now owns 1,619,022 shares of the company’s stock valued at $98,388,000 after purchasing an additional 357,400 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of CRISPR Therapeutics by 228.8% during the second quarter. State Street Corp now owns 1,569,860 shares of the company’s stock valued at $95,400,000 after purchasing an additional 1,092,384 shares during the last quarter. 71.51% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Stock Performance

Shares of CRSP opened at $55.27 on Friday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -6.28 and a beta of 1.66. CRISPR Therapeutics has a fifty-two week low of $38.94 and a fifty-two week high of $86.95. The firm has a 50 day moving average price of $48.67 and a 200-day moving average price of $59.30.

CRISPR Therapeutics (NASDAQ:CRSP – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The company reported ($2.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.30) by $0.06. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $3.53 million. CRISPR Therapeutics had a negative net margin of 4,831.79% and a negative return on equity of 31.34%. As a group, equities research analysts predict that CRISPR Therapeutics will post -9.25 earnings per share for the current year.

About CRISPR Therapeutics

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CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.