CRISPR Therapeutics AG (NASDAQ:CRSP) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) have received a consensus rating of “Moderate Buy” from the nineteen analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $64.5294.

CRSP has been the topic of several recent analyst reports. Citigroup reaffirmed a “buy” rating on shares of CRISPR Therapeutics in a research note on Monday, February 16th. Citizens Jmp decreased their price target on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a research note on Friday, January 30th. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (up from $105.00) on shares of CRISPR Therapeutics in a report on Tuesday, March 17th. Morgan Stanley restated an “underweight” rating and set a $33.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, February 17th. Finally, TD Cowen upped their price objective on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, February 13th.

Insiders Place Their Bets

In other news, CEO Samarth Kulkarni sold 10,020 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $46.78, for a total value of $468,735.60. Following the completion of the sale, the chief executive officer directly owned 255,501 shares of the company’s stock, valued at approximately $11,952,336.78. This represents a 3.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Naimish Patel sold 3,150 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $48.26, for a total transaction of $152,019.00. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 141,828 shares of company stock worth $7,744,397. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds have recently modified their holdings of the company. Mcguire Capital Advisors Inc. acquired a new stake in shares of CRISPR Therapeutics in the fourth quarter valued at $25,000. Ramirez Asset Management Inc. acquired a new position in CRISPR Therapeutics during the fourth quarter worth about $26,000. Optiver Holding B.V. grew its holdings in CRISPR Therapeutics by 71.4% during the third quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock worth $33,000 after acquiring an additional 210 shares during the period. Thompson Investment Management Inc. bought a new stake in CRISPR Therapeutics in the third quarter worth about $33,000. Finally, Strategic Advocates LLC acquired a new stake in CRISPR Therapeutics in the 3rd quarter valued at about $34,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

CRISPR Therapeutics Stock Down 1.8%

CRSP stock opened at $55.72 on Friday. The stock has a market cap of $5.35 billion, a PE ratio of -8.55 and a beta of 1.80. The firm’s 50-day simple moving average is $51.91 and its 200 day simple moving average is $56.07. CRISPR Therapeutics has a fifty-two week low of $33.03 and a fifty-two week high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Friday, February 13th. The company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.22). The firm had revenue of $0.86 million during the quarter, compared to the consensus estimate of $4.72 million. CRISPR Therapeutics had a negative return on equity of 26.31% and a negative net margin of 16,569.77%.CRISPR Therapeutics’s revenue for the quarter was down 97.8% on a year-over-year basis. During the same quarter last year, the company posted ($1.01) EPS. Equities analysts forecast that CRISPR Therapeutics will post -5.16 EPS for the current fiscal year.

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.