CRISPR Therapeutics (NASDAQ:CRSP) Upgraded at StockNews.com

StockNews.com upgraded shares of CRISPR Therapeutics (NASDAQ:CRSP) to a sell rating in a research note published on Tuesday.

Several other research analysts have also issued reports on CRSP. Royal Bank of Canada cut their target price on shares of CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Barclays cut their price objective on CRISPR Therapeutics from $67.00 to $59.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC decreased their price objective on CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Chardan Capital cut their target price on CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Rodman & Renshaw initiated coverage on shares of CRISPR Therapeutics in a research note on Friday, August 2nd. They set a “buy” rating and a $90.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.19.

CRISPR Therapeutics Stock Down 3.2 %

Shares of NASDAQ CRSP opened at $46.39 on Tuesday. The stock’s 50-day simple moving average is $47.13 and its two-hundred day simple moving average is $52.48. CRISPR Therapeutics has a twelve month low of $39.76 and a twelve month high of $91.10. The firm has a market capitalization of $3.94 billion, a P/E ratio of -17.06 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Monday, August 5th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The company had revenue of $0.52 million for the quarter, compared to the consensus estimate of $12.31 million. During the same quarter last year, the business posted ($0.98) EPS. The company’s revenue was down 99.3% compared to the same quarter last year. As a group, research analysts anticipate that CRISPR Therapeutics will post -5.6 EPS for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In related news, General Counsel James R. Kasinger sold 1,089 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the general counsel now owns 62,597 shares in the company, valued at $2,896,989.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the sale, the general counsel now directly owns 62,597 shares in the company, valued at $2,896,989.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Samarth Kulkarni sold 4,293 shares of the company’s stock in a transaction that occurred 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 $10,484,271.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of CRISPR Therapeutics by 40.8% in the 1st quarter. Nordea Investment Management AB now owns 148,700 shares of the company’s stock worth $10,305,000 after buying an additional 43,100 shares during the period. Cetera Investment Advisers lifted its holdings in shares of CRISPR Therapeutics by 451.3% during the first quarter. Cetera Investment Advisers now owns 34,100 shares of the company’s stock valued at $2,324,000 after purchasing an additional 27,915 shares during the last quarter. CWM LLC boosted its position in shares of CRISPR Therapeutics by 11,871.1% in the 2nd quarter. CWM LLC now owns 22,386 shares of the company’s stock worth $1,209,000 after purchasing an additional 22,199 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new stake in shares of CRISPR Therapeutics in the 2nd quarter worth approximately $2,375,000. Finally, Principal Financial Group Inc. bought a new position in CRISPR Therapeutics during the 1st quarter valued at approximately $2,758,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

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.