CRISPR Therapeutics (NASDAQ:CRSP) Receives “Buy” Rating from Chardan Capital

Chardan Capital reissued their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a $94.00 target price on the stock.

A number of other analysts have also recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research report on Thursday, November 7th. Truist Financial cut their price target on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, August 12th. Barclays cut their price target on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $53.00 price target on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $77.93.

CRISPR Therapeutics Price Performance

Shares of NASDAQ:CRSP opened at $45.40 on Tuesday. The company has a market cap of $3.88 billion, a P/E ratio of -16.04 and a beta of 1.62. CRISPR Therapeutics has a 1 year low of $43.42 and a 1 year high of $91.10. The stock’s fifty day moving average price is $48.83 and its 200-day moving average price is $51.29.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. The company had revenue of $0.60 million for the quarter, compared to the consensus estimate of $6.65 million. During the same quarter in the prior year, the company earned ($1.41) earnings per share. On average, sell-side analysts anticipate that CRISPR Therapeutics will post -5.17 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the transaction, the general counsel now directly owns 62,597 shares in the company, valued at $2,896,989.16. The trade was a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $198,680.04. Following the transaction, the chief executive officer now owns 226,540 shares in the company, valued at approximately $10,484,271.20. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,382 shares of company stock worth $2,744,179 in the last ninety days. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in CRISPR Therapeutics by 25.0% during the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after buying an additional 599,304 shares during the last quarter. FMR LLC lifted its position in CRISPR Therapeutics by 1.0% during the 3rd quarter. FMR LLC now owns 2,376,166 shares of the company’s stock worth $111,632,000 after acquiring an additional 23,075 shares during the period. Geode Capital Management LLC lifted its position in CRISPR Therapeutics by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company’s stock worth $47,383,000 after acquiring an additional 35,196 shares during the period. Dimensional Fund Advisors LP lifted its position in CRISPR Therapeutics by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 950,149 shares of the company’s stock worth $51,326,000 after acquiring an additional 19,094 shares during the period. Finally, Baker BROS. Advisors LP lifted its holdings in shares of CRISPR Therapeutics by 743.1% in the 3rd quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company’s stock valued at $39,608,000 after buying an additional 743,075 shares during the period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Company Profile

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.