CRISPR Therapeutics (NASDAQ:CRSP) Given Overweight Rating at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research report released on Tuesday,Benzinga reports. They currently have a $110.00 price target on the stock, up from their previous price target of $105.00.

Several other brokerages also recently weighed in on CRSP. Evercore reaffirmed an “outperform” rating and set a $74.00 price target on shares of CRISPR Therapeutics in a report on Friday, February 13th. Citigroup reissued a “buy” rating on shares of CRISPR Therapeutics in a research note on Monday, February 16th. Chardan Capital upped their price objective on shares of CRISPR Therapeutics from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Saturday, February 14th. Bank of America reduced their target price on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $33.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, February 17th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.53.

CRISPR Therapeutics Trading Up 3.4%

Shares of CRSP opened at $50.09 on Tuesday. The company’s 50 day simple moving average is $53.80 and its 200-day simple moving average is $57.24. The firm has a market cap of $4.81 billion, a PE ratio of -7.68 and a beta of 1.72. CRISPR Therapeutics has a 12-month low of $30.04 and a 12-month high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Thursday, February 12th. The company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.22). CRISPR Therapeutics had a negative net margin of 16,569.77% and a negative return on equity of 26.31%. The business had revenue of $0.86 million during the quarter, compared to analysts’ expectations of $4.72 million. During the same quarter last year, the company earned ($1.01) EPS. The firm’s revenue for the quarter was down 97.8% compared to the same quarter last year. As a group, equities research analysts forecast that CRISPR Therapeutics will post -5.16 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 10,349 shares of CRISPR Therapeutics stock in a transaction on Monday, March 16th. The stock was sold at an average price of $48.26, for a total transaction of $499,442.74. Following the sale, the chief executive officer owned 245,834 shares of the company’s stock, valued at $11,863,948.84. The trade was a 4.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Naimish Patel sold 3,150 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $48.26, for a total value of $152,019.00. Following the transaction, the insider owned 13,143 shares of the company’s stock, valued at $634,281.18. This trade represents a 19.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 128,626 shares of company stock worth $7,126,807 in the last ninety days. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ARK Investment Management LLC lifted its stake in shares of CRISPR Therapeutics by 7.5% in the 4th quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock worth $551,777,000 after acquiring an additional 735,084 shares during the period. Orbis Allan Gray Ltd boosted its holdings in shares of CRISPR Therapeutics by 19.4% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,950,145 shares of the company’s stock valued at $312,026,000 after acquiring an additional 968,060 shares in the last quarter. Capital International Investors increased its stake in shares of CRISPR Therapeutics by 4.3% during the fourth quarter. Capital International Investors now owns 5,892,745 shares of the company’s stock valued at $309,016,000 after acquiring an additional 243,487 shares during the period. State Street Corp raised its holdings in CRISPR Therapeutics by 35.6% during the second quarter. State Street Corp now owns 3,270,596 shares of the company’s stock worth $159,082,000 after purchasing an additional 859,334 shares in the last quarter. Finally, GSK plc bought a new stake in CRISPR Therapeutics during the fourth quarter worth approximately $168,890,000. 69.20% of the stock is currently owned by institutional investors.

CRISPR Therapeutics News Summary

Here are the key news stories impacting CRISPR Therapeutics this week:

• Positive Sentiment: Piper Sandler reaffirmed an “overweight” rating and raised its price target to $110, implying material upside and signaling stronger analyst confidence in CRSP’s clinical and commercial prospects. Read More.
• Neutral Sentiment: CRISPR completed a $600 million private convertible notes offering on March 16 that boosts near-term liquidity and funding flexibility for R&D/operations but could lead to future dilution if notes convert. Investors will weigh cash runway benefits against potential dilution and interest/convertible terms. Read More.
• Negative Sentiment: CEO Samarth Kulkarni sold 10,349 shares at an average $48.26 on March 16 (~$499k), reducing his stake by ~4.04%; the sale was disclosed in an SEC filing. Insider selling can be read as profit-taking or diversification and may raise short-term investor concern. Read More.
• Negative Sentiment: General Counsel James Kasinger sold 3,450 shares at an average $48.26 (~$166k) on March 16, decreasing his stake by ~3.64%; disclosed in an SEC filing. Additional insider sales add to near-term bearish signaling. Read More.
• Negative Sentiment: Insider Naimish Patel sold 3,150 shares at an average $48.26 (~$152k) on March 16, cutting his position by ~19.33%; the sale was reported in an SEC filing. Multiple insiders selling on the same date strengthens the perception of distribution risk for some traders. Read More.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.