CRISPR Therapeutics (NASDAQ:CRSP) Shares Up 2.8% - Here's Why

CRISPR Therapeutics AG (NASDAQ:CRSP) saw a 2.8% increase in its share price during midday trading on Friday. The stock reached a high of $43.48 before settling at $43.16 by the end of the trading day. Around 244,018 shares were exchanged, which represents a significant decline of 89% compared to the average daily volume of 2,193,486 shares. The previous closing price was $41.99.

CRISPR Therapeutics Alerts:

Analyst Ratings

Several brokerages have recently made remarks about CRISPR Therapeutics. StockNews.com upgraded the shares to a "sell" rating in its note on February 13th. On February 12th, Royal Bank of Canada lowered its target price from $53.00 to $48.00, giving the stock a "sector perform" rating. However, HC Wainwright maintained a "buy" rating and set a price target of $65.00 for the shares. Barclays increased its target from $55.00 to $56.00, marking the stock with an "equal weight" rating. Lastly, Chardan Capital adjusted its target price down from $94.00 to $84.00 while keeping a "buy" rating on the stock. Currently, two equity research analysts recommend a sell rating, nine analysts suggest holding, and eleven have a buy recommendation, leading to an overall average rating of "Hold" and a consensus target price of $73.11 according to MarketBeat.com.

Stock Performance Overview

CRISPR Therapeutics has a 50-day moving average of $43.03 and a 200-day moving average of $45.63. The company's market capitalization stands at approximately $3.62 billion, with a price-to-earnings ratio of -9.64 and a beta of 1.77. The most recent earnings report was issued on February 11th, where the company reported an earnings per share (EPS) loss of ($0.44), surpassing the consensus estimate of ($1.15). The company recorded a negative net margin of 981.54% and a return on equity of -18.46%. Looking ahead, analysts predict that CRISPR Therapeutics will report an EPS of -5.16 for the current year.

Insider Transactions

In recent insider activity, CEO Samarth Kulkarni sold 18,360 shares of CRISPR Therapeutics on February 19th at an average price of $55.20, amounting to $1,013,472.00. After this transaction, Kulkarni holds 171,613 shares valued at nearly $9.47 million, representing a 9.66% reduction in his stake. Additionally, General Counsel James R. Kasinger sold 2,850 shares on March 11th for about $120,897.00. Following this sale, Kasinger owns 77,530 shares worth around $3.29 million, a decrease of 3.55% in his holdings. In total, insiders have sold 32,381 shares valued at over $1.6 million recently, and insiders currently own 4.10% of the stock.

Institutional Investment Changes

Recent changes in institutional investor holdings have been noted. Axxcess Wealth Management LLC increased its stake in CRISPR Therapeutics by 3.3% in the third quarter, now owning 10,271 shares valued at about $483,000 after acquiring 330 additional shares. Meanwhile, the State of New Jersey Common Pension Fund D boosted its position by 16.8%, owning 40,341 shares worth $1.90 million after purchasing 5,803 shares. Aigen Investment Management LP opened a new stake valued at $298,000. Oppenheimer & Co. Inc. increased its holdings by 7.8%, owning 34,128 shares now valued at approximately $1.60 million. KBC Group NV also grew its position by 43.9%, holding 2,818 shares worth $132,000. Overall, institutional investors and hedge funds own 69.20% of the company's stock.

About CRISPR Therapeutics

CRISPR Therapeutics specializes in gene editing, concentrating on developing gene-based treatments for serious diseases. Using its innovative CRISPR/Cas9 platform, the company enables precise changes to genomic DNA. It has built a portfolio of therapeutic programs addressing various disease areas such as hemoglobinopathies, oncology, rare diseases, and regenerative medicine.

Additional Insights

Before investing in CRISPR Therapeutics, it is important to consider other investment opportunities. MarketBeat identifies top analysts who consistently perform well, and currently, CRISPR Therapeutics is not on their recommended stocks list. If you are looking for potentially better investment choices, these analysts have suggested five other stocks worth exploring.

Stocks, Investment, CRISPR