CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Up 3.4% – Here’s What Happened

CRISPR Therapeutics AG (NASDAQ:CRSP) rose 3.4% on Wednesday . The company traded as high as $55.88 and last traded at $53.97. Approximately 2,162,156 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 2,321,332 shares. The stock had previously closed at $52.22.

Analysts Set New Price Targets

CRSP has been the subject of a number of recent research reports. Truist Financial boosted their target price on CRISPR Therapeutics from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley upped their price target on CRISPR Therapeutics from $30.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, February 14th. TD Cowen raised CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research report on Wednesday, February 12th. Barclays upped their price target on CRISPR Therapeutics from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Bank of America lowered their price target on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.40.

CRISPR Therapeutics Trading Up 2.6 %

The company has a market cap of $4.60 billion, a PE ratio of -12.26 and a beta of 1.67. The firm has a 50 day moving average of $41.89 and a two-hundred day moving average of $45.98.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. On average, research analysts forecast that CRISPR Therapeutics AG will post -5.04 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 15,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $55.10, for a total transaction of $826,500.00. Following the transaction, the chief executive officer now directly owns 181,540 shares of the company’s stock, valued at $10,002,854. This represents a 7.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC lifted its holdings in shares of CRISPR Therapeutics by 19.7% during the 4th quarter. ARK Investment Management LLC now owns 8,973,064 shares of the company’s stock valued at $353,180,000 after buying an additional 1,474,439 shares during the period. Capital International Investors raised its holdings in CRISPR Therapeutics by 10.3% in the 4th quarter. Capital International Investors now owns 8,743,523 shares of the company’s stock worth $344,145,000 after purchasing an additional 816,789 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in CRISPR Therapeutics by 39.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company’s stock worth $150,029,000 after purchasing an additional 1,074,238 shares during the period. State Street Corp raised its holdings in CRISPR Therapeutics by 25.0% in the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after purchasing an additional 599,304 shares during the period. Finally, FMR LLC raised its holdings in CRISPR Therapeutics by 1.0% in the 3rd quarter. FMR LLC now owns 2,376,166 shares of the company’s stock worth $111,632,000 after purchasing an additional 23,075 shares during the period. 69.20% of the stock is owned by institutional investors.

About CRISPR Therapeutics

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.