CRISPR Therapeutics (NASDAQ:CRSP) Trading Up 1%

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price shot up 1% during trading on Thursday . The company traded as high as $57.98 and last traded at $57.20. 301,134 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 1,645,584 shares. The stock had previously closed at $56.63.

Analyst Upgrades and Downgrades

CRSP has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $88.00 price target on shares of CRISPR Therapeutics in a report on Thursday. Citigroup lowered their target price on shares of CRISPR Therapeutics from $89.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Piper Sandler reissued an “overweight” rating and set a $105.00 price objective on shares of CRISPR Therapeutics in a report on Monday, June 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Finally, Wells Fargo & Company cut their price objective on CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, CRISPR Therapeutics has an average rating of “Hold” and an average target price of $75.71.

CRISPR Therapeutics Trading Down 2.5 %

The business has a 50-day moving average price of $56.72 and a 200-day moving average price of $64.46.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The company had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. During the same quarter in the prior year, the company earned ($0.67) earnings per share. CRISPR Therapeutics’s quarterly revenue was down 99.5% compared to the same quarter last year. Equities 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 the firm’s stock in a transaction on Friday, June 21st. The shares were 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 owns 6,745 shares of the company’s stock, valued at $378,327.05. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, COO Julianne Bruno sold 3,366 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the transaction, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at $378,327.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 19,582 shares of CRISPR Therapeutics stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $59.91, for a total value of $1,173,157.62. Following 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 disclosure for this sale can be found here. 4.10% of the stock is 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. EverSource Wealth Advisors LLC lifted its holdings in CRISPR Therapeutics by 31.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,862 shares of the company’s stock valued at $127,000 after acquiring an additional 446 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of CRISPR Therapeutics by 1.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 40,745 shares of the company’s stock valued at $2,807,000 after purchasing an additional 745 shares during the period. Spear Holdings RSC Ltd purchased a new stake in CRISPR Therapeutics during the first quarter worth $11,246,000. Cetera Advisors LLC acquired a new stake in CRISPR Therapeutics during the first quarter valued at $334,000. Finally, Cetera Investment Advisers increased its holdings in CRISPR Therapeutics by 451.3% in the first quarter. Cetera Investment Advisers now owns 34,100 shares of the company’s stock valued at $2,324,000 after buying an additional 27,915 shares in the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

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.