CRISPR Therapeutics (NASDAQ:CRSP) Trading Up 0.5% – Time to Buy?

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) were up 0.5% during trading on Wednesday . The stock traded as high as $42.94 and last traded at $42.02. Approximately 363,337 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,938,730 shares. The stock had previously closed at $41.81.

Analysts Set New Price Targets

Several brokerages have weighed in on CRSP. Bank of America cut their price target on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Chardan Capital reiterated a “buy” rating and issued a $94.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $53.00 price target on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, January 14th. Finally, Barclays decreased their target price on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $78.38.

CRISPR Therapeutics Stock Down 1.1 %

The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -14.70 and a beta of 1.68. The business has a 50 day moving average price of $43.88 and a 200-day moving average price of $47.38.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.41. The company had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. During the same quarter last year, the company earned ($1.41) earnings per share. Research analysts anticipate that CRISPR Therapeutics AG will post -5.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Samarth Kulkarni sold 15,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $55.10, for a total transaction of $826,500.00. Following the completion of the transaction, the chief executive officer now directly owns 181,540 shares in the company, valued at approximately $10,002,854. This represents a 7.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Large investors have recently modified their holdings of the stock. Highline Wealth Partners LLC bought a new position in CRISPR Therapeutics during the 4th quarter worth approximately $39,000. Western Pacific Wealth Management LP raised its position in shares of CRISPR Therapeutics by 100.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after acquiring an additional 500 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in CRISPR Therapeutics during the third quarter worth $40,000. Darwin Wealth Management LLC bought a new position in CRISPR Therapeutics during the third quarter worth $43,000. Finally, Eastern Bank bought a new stake in CRISPR Therapeutics during the third quarter valued at $70,000. 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.