CRISPR Therapeutics (NASDAQ:CRSP) Given “Buy” Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a report released on Thursday morning,Benzinga reports. Chardan Capital currently has a $82.00 target price on the stock.

CRSP has been the topic of several other research reports. Barclays lowered their price objective on shares of CRISPR Therapeutics from $56.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. HC Wainwright reiterated a “buy” rating and issued a $65.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, May 20th. The Goldman Sachs Group reduced their price objective on CRISPR Therapeutics from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. JMP Securities restated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Wednesday, May 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $69.53.

CRISPR Therapeutics Stock Down 2.0%

Shares of NASDAQ CRSP opened at $46.70 on Thursday. The company has a market capitalization of $4.03 billion, a PE ratio of -10.33 and a beta of 1.75. The stock’s 50 day moving average price is $39.28 and its 200-day moving average price is $40.56. CRISPR Therapeutics has a twelve month low of $30.04 and a twelve month high of $63.68.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.31). CRISPR Therapeutics had a negative return on equity of 20.08% and a negative net margin of 1,023.64%. During the same period in the previous year, the firm posted ($1.43) earnings per share. The firm’s revenue was up 71.6% on a year-over-year basis. As a group, research analysts expect that CRISPR Therapeutics will post -5.16 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other news, insider Naimish Patel sold 3,932 shares of the company’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $35.94, for a total value of $141,316.08. Following the completion of the transaction, the insider now directly owns 6,068 shares in the company, valued at approximately $218,083.92. This represents a 39.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by insiders.

Institutional Trading of CRISPR Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. ARK Investment Management LLC raised its stake in shares of CRISPR Therapeutics by 13.3% during the first quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company’s stock worth $345,929,000 after acquiring an additional 1,192,336 shares in the last quarter. Capital International Investors raised its position in CRISPR Therapeutics by 10.3% in the 4th quarter. Capital International Investors now owns 8,743,523 shares of the company’s stock worth $344,145,000 after purchasing an additional 816,789 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in CRISPR Therapeutics by 39.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company’s stock worth $150,029,000 after purchasing an additional 1,074,238 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CRISPR Therapeutics by 182.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company’s stock valued at $66,452,000 after buying an additional 1,262,560 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of CRISPR Therapeutics by 1.9% during the first quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company’s stock valued at $60,223,000 after buying an additional 33,711 shares during the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

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.