CRISPR Therapeutics (NASDAQ:CRSP) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of CRISPR Therapeutics (NASDAQ:CRSP) to a sell rating in a research report released on Tuesday.

Several other brokerages have also issued reports on CRSP. Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, August 8th. Rodman & Renshaw began coverage on CRISPR Therapeutics in a research report on Friday, August 2nd. They issued a “buy” rating and a $90.00 price objective on the stock. Chardan Capital decreased their target price on CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC cut their price target on shares of CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Truist Financial reduced their price target on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.19.

CRISPR Therapeutics Trading Down 1.5 %

Shares of NASDAQ CRSP opened at $48.94 on Tuesday. CRISPR Therapeutics has a 12-month low of $38.16 and a 12-month high of $91.10. The firm’s 50-day moving average price is $47.18 and its 200-day moving average price is $52.60. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of -17.99 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Monday, August 5th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The firm had revenue of $0.52 million during the quarter, compared to analyst estimates of $12.31 million. CRISPR Therapeutics’s revenue was down 99.3% on a year-over-year basis. During the same period last year, the firm earned ($0.98) earnings per share. On average, equities analysts predict that CRISPR Therapeutics will post -5.6 EPS for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 4,293 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $198,680.04. Following the completion of the sale, the chief executive officer now owns 226,540 shares of the company’s stock, valued at $10,484,271.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel James R. Kasinger sold 1,089 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the transaction, the general counsel now directly owns 62,597 shares of the company’s stock, valued at $2,896,989.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $198,680.04. Following the sale, the chief executive officer now directly owns 226,540 shares in the company, valued at approximately $10,484,271.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Riggs Asset Managment Co. Inc. raised 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 acquiring an additional 200 shares during the last quarter. SFE Investment Counsel raised its stake in shares of CRISPR Therapeutics by 3.6% in the second quarter. SFE Investment Counsel now owns 5,846 shares of the company’s stock worth $316,000 after purchasing an additional 203 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of CRISPR Therapeutics by 4.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,606 shares of the company’s stock worth $249,000 after purchasing an additional 211 shares during the period. Orion Capital Management LLC boosted its position in CRISPR Therapeutics by 44.0% in the first quarter. Orion Capital Management LLC now owns 720 shares of the company’s stock valued at $49,000 after buying an additional 220 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in CRISPR Therapeutics by 35.0% in the 2nd quarter. National Bank of Canada FI now owns 848 shares of the company’s stock worth $46,000 after buying an additional 220 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.