CRISPR Therapeutics (NASDAQ:CRSP) Receives Buy Rating from Chardan Capital

Chardan Capital reissued their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $82.00 price objective on the stock.

CRSP has been the subject of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $81.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of CRISPR Therapeutics to a “sell” rating in a research report on Friday, May 16th. Royal Bank Of Canada increased their target price on shares of CRISPR Therapeutics from $38.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $65.00 price target on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Finally, Bank of America dropped their price objective on shares of CRISPR Therapeutics from $79.00 to $78.00 and set a “buy” rating on the stock in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $69.67.

CRISPR Therapeutics Stock Performance

CRISPR Therapeutics stock opened at $55.59 on Tuesday. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -10.24 and a beta of 1.80. CRISPR Therapeutics has a 52-week low of $30.04 and a 52-week high of $71.13. The firm has a 50 day moving average price of $50.45 and a two-hundred day moving average price of $43.63.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Monday, August 4th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.47) by $0.18. CRISPR Therapeutics had a negative net margin of 1,229.43% and a negative return on equity of 19.55%. The business had revenue of $0.89 million for the quarter, compared to analyst estimates of $6.44 million. During the same quarter in the previous year, the business earned ($1.49) earnings per share. CRISPR Therapeutics’s revenue for the quarter was up 72.5% on a year-over-year basis. As a group, equities research analysts predict that CRISPR Therapeutics will post -5.16 EPS for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, Director Simeon George purchased 989,812 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The shares were acquired at an average cost of $52.03 per share, for a total transaction of $51,499,918.36. Following the completion of the acquisition, the director owned 1,730,179 shares in the company, valued at $90,021,213.37. This trade represents a 133.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $141,316.08. Following the completion of the sale, the insider directly owned 6,068 shares of the company’s stock, valued at $218,083.92. The trade was a 39.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds have recently modified their holdings of CRSP. SVB Wealth LLC purchased a new stake in shares of CRISPR Therapeutics during the first quarter valued at approximately $25,000. Costello Asset Management INC bought a new position in CRISPR Therapeutics in the 1st quarter valued at $27,000. Wood Tarver Financial Group LLC purchased a new stake in shares of CRISPR Therapeutics during the 4th quarter valued at $30,000. Ameriflex Group Inc. bought a new stake in shares of CRISPR Therapeutics during the 4th quarter worth $36,000. Finally, Quantbot Technologies LP raised its stake in shares of CRISPR Therapeutics by 272.4% during the 1st quarter. Quantbot Technologies LP now owns 1,337 shares of the company’s stock worth $45,000 after purchasing an additional 978 shares during the period. Institutional investors own 69.20% of the company’s stock.

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.