CRISPR Therapeutics (NASDAQ:CRSP) Trading 6.3% Higher – Still a Buy?

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price shot up 6.3% during mid-day trading on Friday . The stock traded as high as $36.09 and last traded at $36.40. 266,161 shares traded hands during trading, a decline of 83% from the average session volume of 1,607,792 shares. The stock had previously closed at $34.26.

Wall Street Analyst Weigh In

CRSP has been the topic of a number of research analyst reports. Royal Bank of Canada decreased their price target on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, February 13th. Morgan Stanley lifted their price target on CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, February 14th. Chardan Capital reduced their price objective on CRISPR Therapeutics from $94.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays boosted their target price on CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.11.

CRISPR Therapeutics Price Performance

The company has a market capitalization of $3.26 billion, a P/E ratio of -8.72 and a beta of 1.85. The company has a 50 day moving average of $41.16 and a 200-day moving average of $44.07.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. Research analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, General Counsel James R. Kasinger sold 2,850 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $120,897.00. Following the sale, the general counsel now owns 77,530 shares in the company, valued at approximately $3,288,822.60. The trade was a 3.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Samarth Kulkarni sold 18,360 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total transaction of $1,013,472.00. Following the sale, the chief executive officer now directly owns 171,613 shares in the company, valued at $9,473,037.60. The trade was a 9.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,381 shares of company stock valued at $1,608,243. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its holdings in shares of CRISPR Therapeutics by 19.7% in the 4th 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. Capital International Investors boosted its position in shares of CRISPR Therapeutics by 10.3% during the fourth quarter. Capital International Investors now owns 8,743,523 shares of the company’s stock valued at $344,145,000 after buying an additional 816,789 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in CRISPR Therapeutics by 39.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company’s stock worth $150,029,000 after buying an additional 1,074,238 shares in the last quarter. State Street Corp raised its position in CRISPR Therapeutics by 25.0% in the 3rd 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 during the last quarter. Finally, Vanguard Group Inc. lifted its stake in CRISPR Therapeutics by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,735,998 shares of the company’s stock valued at $68,329,000 after acquiring an additional 10,579 shares during the period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

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.