CRISPR Therapeutics (NASDAQ:CRSP) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a $65.00 price objective on the stock.

Several other research analysts have also commented on the stock. Truist Financial lifted their price target on shares of CRISPR Therapeutics from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Royal Bank of Canada dropped their price target on CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Bank of America reduced their price objective on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 target price on shares of CRISPR Therapeutics in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.50.

CRISPR Therapeutics Stock Performance

NASDAQ:CRSP opened at $49.72 on Thursday. The stock has a 50-day simple moving average of $41.89 and a 200 day simple moving average of $46.10. CRISPR Therapeutics has a one year low of $36.52 and a one year high of $91.10. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of -17.57 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, topping 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, equities research analysts forecast that CRISPR Therapeutics will post -5.08 EPS for the current fiscal year.

Insider Activity

In other news, CEO Samarth Kulkarni sold 15,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $55.10, for a total value of $826,500.00. Following the completion of the sale, the chief executive officer now owns 181,540 shares in the company, valued at $10,002,854. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in CRISPR Therapeutics during the second quarter valued at approximately $381,000. Exchange Traded Concepts LLC increased its holdings in shares of CRISPR Therapeutics by 22.8% in the third quarter. Exchange Traded Concepts LLC now owns 19,192 shares of the company’s stock valued at $902,000 after buying an additional 3,563 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of CRISPR Therapeutics by 3.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 16,957 shares of the company’s stock valued at $797,000 after acquiring an additional 600 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of CRISPR Therapeutics by 56.4% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,617 shares of the company’s stock worth $640,000 after acquiring an additional 4,909 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of CRISPR Therapeutics during the third quarter worth $258,000. 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.