Guggenheim Reiterates Neutral Rating for CRISPR Therapeutics (NASDAQ:CRSP)

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “neutral” rating reissued by stock analysts at Guggenheim in a report released on Friday, Benzinga reports.

A number of other brokerages also recently issued reports on CRSP. Robert W. Baird upped their price target on CRISPR Therapeutics from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, May 9th. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a research note on Thursday, May 9th. Piper Sandler reiterated an “overweight” rating and issued a $105.00 price objective on shares of CRISPR Therapeutics in a research note on Monday, June 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $88.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.71.

CRISPR Therapeutics Stock Down 2.2 %

Shares of CRSP opened at $55.38 on Friday. The stock has a 50 day moving average price of $56.74 and a 200 day moving average price of $64.51. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of -20.36 and a beta of 1.78. CRISPR Therapeutics has a 52-week low of $37.55 and a 52-week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $25.53 million. The firm’s quarterly revenue was down 99.5% compared to the same quarter last year. During the same period last year, the business earned ($0.67) earnings per share. On average, equities analysts anticipate that CRISPR Therapeutics will post -5.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, COO Julianne Bruno sold 3,366 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Samarth Kulkarni sold 19,582 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the sale, the chief executive officer now owns 208,122 shares of the company’s stock, valued at $12,468,589.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Julianne Bruno sold 3,366 shares of the 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 sale, the chief operating officer now directly owns 6,745 shares in the company, valued at approximately $378,327.05. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of CRISPR Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Riggs Asset Managment Co. Inc. boosted its stake in CRISPR Therapeutics by 66.7% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock worth $34,000 after buying an additional 200 shares during the last quarter. Orion Capital Management LLC boosted its stake in CRISPR Therapeutics by 44.0% in the 1st quarter. Orion Capital Management LLC now owns 720 shares of the company’s stock worth $49,000 after buying an additional 220 shares during the last quarter. WealthPlan Investment Management LLC boosted its stake in CRISPR Therapeutics by 3.1% in the 4th quarter. WealthPlan Investment Management LLC now owns 9,663 shares of the company’s stock worth $605,000 after buying an additional 288 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in CRISPR Therapeutics by 7.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,200 shares of the company’s stock worth $286,000 after buying an additional 300 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in CRISPR Therapeutics by 3.3% in the 4th quarter. E Fund Management Co. Ltd. now owns 9,460 shares of the company’s stock worth $592,000 after buying an additional 303 shares during the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

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.