CRISPR Therapeutics’ (CRSP) “Neutral” Rating Reiterated at Guggenheim

Guggenheim reaffirmed their neutral rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a report released on Friday, MarketBeat Ratings reports.

CRSP has been the topic of a number of other research reports. Oppenheimer lowered their price objective on CRISPR Therapeutics from $102.00 to $95.00 and set an outperform rating on the stock in a report on Friday, May 10th. Cantor Fitzgerald reissued a neutral rating on shares of CRISPR Therapeutics in a report on Thursday, May 9th. Piper Sandler reaffirmed an overweight rating and set a $105.00 price target on shares of CRISPR Therapeutics in a research note on Monday, June 17th. Wells Fargo & Company decreased their price objective on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an equal weight rating on the stock in a report on Thursday, May 9th. Finally, Citigroup dropped their price target on CRISPR Therapeutics from $89.00 to $84.00 and set a buy rating for the company in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CRISPR Therapeutics presently has a consensus rating of Hold and an average price target of $75.71.

CRISPR Therapeutics Stock Performance

Shares of CRSP opened at $54.01 on Friday. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of -19.86 and a beta of 1.78. CRISPR Therapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $91.10. The firm has a 50-day simple moving average of $56.72 and a 200-day simple moving average of $64.53.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. During the same period last year, the firm earned ($0.67) earnings per share. The company’s revenue for the quarter was down 99.5% compared to the same quarter last year. Equities research analysts forecast that CRISPR Therapeutics will post -5.51 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In related news, COO Julianne Bruno sold 3,366 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $56.09, for a total transaction of $188,798.94. Following the transaction, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 19,582 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the completion of the sale, the chief executive officer now owns 208,122 shares in the company, valued at approximately $12,468,589.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Julianne Bruno sold 3,366 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the transaction, the chief operating officer now directly owns 6,745 shares in the company, valued at $378,327.05. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of CRISPR Therapeutics

Several institutional investors have recently added to or reduced their stakes in CRSP. Capital International Investors increased its position in shares of CRISPR Therapeutics by 27.8% in the 1st quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock worth $534,175,000 after purchasing an additional 1,702,624 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of CRISPR Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after purchasing an additional 1,372,986 shares during the last quarter. SR One Capital Management LP acquired a new position in CRISPR Therapeutics in the first quarter worth about $71,496,000. Norges Bank bought a new stake in CRISPR Therapeutics in the fourth quarter valued at about $38,661,000. Finally, Avoro Capital Advisors LLC acquired a new stake in CRISPR Therapeutics during the first quarter valued at approximately $28,599,000. 69.20% of the stock is 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.