CRISPR Therapeutics (NASDAQ:CRSP) Trading 7.2% Higher – Here’s What Happened

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price rose 7.2% on Friday . The company traded as high as $49.75 and last traded at $49.74. Approximately 1,094,287 shares were traded during trading, a decline of 24% from the average daily volume of 1,442,206 shares. The stock had previously closed at $46.39.

Wall Street Analyst Weigh In

Several research firms recently commented on CRSP. Barclays dropped their target price on CRISPR Therapeutics from $67.00 to $59.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Truist Financial cut their price objective on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a report on Thursday, August 8th. StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a research note on Tuesday. Finally, Rodman & Renshaw started coverage on shares of CRISPR Therapeutics in a research note on Friday, August 2nd. They set a “buy” rating and a $90.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, CRISPR Therapeutics presently has an average rating of “Hold” and an average target price of $75.19.

CRISPR Therapeutics Stock Up 9.0 %

The business’s fifty day moving average is $47.11 and its two-hundred day moving average is $52.44. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -15.18 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Monday, August 5th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The firm had revenue of $0.52 million for the quarter, compared to the consensus estimate of $12.31 million. During the same quarter in the previous year, the business earned ($0.98) earnings per share. The company’s revenue was down 99.3% on a year-over-year basis. Research analysts forecast that CRISPR Therapeutics AG will post -5.57 EPS for the current year.

Insider Buying and Selling

In other news, CEO Samarth Kulkarni sold 4,293 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $198,680.04. Following the completion of the sale, the chief executive officer now owns 226,540 shares of the company’s stock, valued at $10,484,271.20. 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 at this hyperlink. In other news, CEO Samarth Kulkarni sold 4,293 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $198,680.04. Following the completion of the transaction, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at $10,484,271.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel James R. Kasinger sold 1,089 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,896,989.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Several hedge funds have recently bought and sold shares of CRSP. Global Trust Asset Management LLC increased its stake in shares of CRISPR Therapeutics by 150.0% during the second quarter. Global Trust Asset Management LLC now owns 500 shares of the company’s stock worth $27,000 after purchasing an additional 300 shares during the period. Larson Financial Group LLC lifted its holdings in shares of CRISPR Therapeutics by 95.5% during the second quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock worth $31,000 after buying an additional 276 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its position in shares of CRISPR Therapeutics by 99.7% in the second quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company’s stock valued at $33,000 after acquiring an additional 307 shares during the period. Riggs Asset Managment Co. Inc. grew its stake in shares of CRISPR Therapeutics by 66.7% in the first quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in CRISPR Therapeutics during the second quarter worth about $35,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.