CRISPR Therapeutics (NASDAQ:CRSP) Receives Buy Rating from HC Wainwright

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $65.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 68.05% from the stock’s current price.

Other analysts have also issued reports about the company. JMP Securities reissued a “market outperform” rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a report on Thursday, February 13th. Citigroup decreased their price target on CRISPR Therapeutics from $89.00 to $82.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Truist Financial lifted their price objective on shares of CRISPR Therapeutics from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada dropped their price target on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 12th. Finally, Evercore ISI upgraded shares of CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $60.00 to $99.00 in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CRISPR Therapeutics has an average rating of “Hold” and an average price target of $71.75.

CRISPR Therapeutics Trading Down 0.2%

NASDAQ CRSP opened at $38.68 on Tuesday. The company has a market cap of $3.34 billion, a P/E ratio of -8.85 and a beta of 1.88. The company has a fifty day simple moving average of $37.40 and a 200 day simple moving average of $42.24. CRISPR Therapeutics has a 12-month low of $30.04 and a 12-month high of $67.88.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. During the same quarter last year, the firm earned ($1.43) EPS. CRISPR Therapeutics’s revenue for the quarter was up 71.6% compared to the same quarter last year. Sell-side analysts predict that CRISPR Therapeutics will post -5.16 EPS for the current year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 2,850 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $120,897.00. Following the sale, the general counsel now owns 77,530 shares in the company, valued at $3,288,822.60. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Samarth Kulkarni sold 9,973 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total value of $423,054.66. Following the completion of the transaction, the chief executive officer now directly owns 180,890 shares of the company’s stock, valued at $7,673,353.80. The trade was a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,381 shares of company stock worth $1,608,243 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CRSP. ARK Investment Management LLC grew its holdings in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of CRISPR Therapeutics by 182.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company’s stock valued at $66,452,000 after acquiring an additional 1,262,560 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in CRISPR Therapeutics by 39.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company’s stock valued at $150,029,000 after acquiring an additional 1,074,238 shares in the last quarter. Capital International Investors increased its holdings in CRISPR Therapeutics by 10.3% during the 4th quarter. Capital International Investors now owns 8,743,523 shares of the company’s stock worth $344,145,000 after acquiring an additional 816,789 shares during the period. Finally, Millennium Management LLC lifted its stake in CRISPR Therapeutics by 6,769.1% in the 1st quarter. Millennium Management LLC now owns 583,733 shares of the company’s stock worth $19,864,000 after purchasing an additional 575,235 shares in the last quarter. 69.20% of the stock is currently owned by 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.