CRISPR Therapeutics (NASDAQ:CRSP) Trading 7.2% Higher

CRISPR Therapeutics AG (NASDAQ:CRSP) traded up 7.2% during mid-day trading on Thursday . The stock traded as high as $59.84 and last traded at $59.58. 389,365 shares were traded during trading, a decline of 76% from the average session volume of 1,606,404 shares. The stock had previously closed at $55.56.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Guggenheim restated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Friday, June 28th. Citigroup cut their target price on shares of CRISPR Therapeutics from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Oppenheimer dropped their price target on shares of CRISPR Therapeutics from $102.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $88.00 target price on shares of CRISPR Therapeutics in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.71.

CRISPR Therapeutics Trading Up 1.9 %

The stock has a market capitalization of $4.81 billion, a P/E ratio of -21.90 and a beta of 1.70. The stock has a 50 day moving average of $56.62 and a 200-day moving average of $64.03.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $25.53 million. During the same period in the prior year, the company earned ($0.67) earnings per share. The business’s revenue was down 99.5% compared to the same quarter last year. Research analysts anticipate that CRISPR Therapeutics AG will post -5.51 EPS for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, COO Julianne Bruno sold 3,366 shares of CRISPR Therapeutics stock in a transaction on Friday, June 21st. The stock was sold at an average price of $56.09, for a total transaction of $188,798.94. Following the completion of the sale, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 19,582 shares of CRISPR Therapeutics stock in a transaction on Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the completion of the sale, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at approximately $12,468,589.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Julianne Bruno sold 3,366 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the transaction, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at $378,327.05. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CRSP. Integrated Advisors Network LLC bought a new position in shares of CRISPR Therapeutics in the 3rd quarter worth $327,000. B. Riley Wealth Advisors Inc. raised its position in shares of CRISPR Therapeutics by 104.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 16,810 shares of the company’s stock worth $763,000 after acquiring an additional 8,597 shares in the last quarter. Citigroup Inc. raised its position in shares of CRISPR Therapeutics by 3.3% in the 3rd quarter. Citigroup Inc. now owns 112,111 shares of the company’s stock worth $5,089,000 after acquiring an additional 3,617 shares in the last quarter. Vanguard Group Inc. grew its stake in CRISPR Therapeutics by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,538,725 shares of the company’s stock worth $69,843,000 after buying an additional 7,635 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new position in CRISPR Therapeutics during the 4th quarter worth $271,000. 69.20% of the stock is 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.