CRISPR Therapeutics (NASDAQ:CRSP) Rating Increased to Hold at TD Cowen

TD Cowen upgraded shares of CRISPR Therapeutics (NASDAQ:CRSP) from a sell rating to a hold rating in a research note published on Wednesday, Marketbeat reports. TD Cowen currently has $35.00 target price on the stock.

A number of other equities research analysts also recently commented on CRSP. HC Wainwright assumed coverage on CRISPR Therapeutics in a report on Monday, February 3rd. They set a “buy” rating and a $65.00 target price for the company. Chardan Capital reaffirmed a “buy” rating and issued a $94.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, December 10th. Barclays reduced their target price on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Needham & Company LLC restated a “buy” rating and set a $84.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $53.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.11.

CRISPR Therapeutics Trading Up 9.3 %

Shares of CRISPR Therapeutics stock opened at $43.30 on Wednesday. The firm’s 50 day simple moving average is $42.06 and its two-hundred day simple moving average is $46.25. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -15.30 and a beta of 1.67. CRISPR Therapeutics has a 12-month low of $36.52 and a 12-month high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. On average, sell-side analysts predict that CRISPR Therapeutics will post -5.08 EPS for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.10, for a total value of $826,500.00. Following the sale, the chief executive officer now directly owns 181,540 shares in the company, valued at approximately $10,002,854. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC increased its position in shares of CRISPR Therapeutics by 19.7% during the fourth quarter. ARK Investment Management LLC now owns 8,973,064 shares of the company’s stock worth $353,180,000 after purchasing an additional 1,474,439 shares in the last quarter. State Street Corp grew its holdings in shares of CRISPR Therapeutics by 25.0% during the third quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after buying an additional 599,304 shares in the last quarter. FMR LLC raised its position in shares of CRISPR Therapeutics by 1.0% in the third quarter. FMR LLC now owns 2,376,166 shares of the company’s stock valued at $111,632,000 after buying an additional 23,075 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of CRISPR Therapeutics by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,735,998 shares of the company’s stock worth $68,329,000 after buying an additional 10,579 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in CRISPR Therapeutics by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company’s stock worth $47,383,000 after acquiring an additional 35,196 shares during the last quarter. 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.