CRISPR Therapeutics (NASDAQ:CRSP) Upgraded at StockNews.com

StockNews.com upgraded shares of CRISPR Therapeutics (NASDAQ:CRSP) to a sell rating in a research note published on Wednesday morning.

CRSP has been the subject of several other research reports. Barclays decreased their price objective on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $53.00 target price on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Finally, Chardan Capital restated a “buy” rating and set a $94.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.93.

CRISPR Therapeutics Trading Down 3.6 %

NASDAQ CRSP opened at $43.78 on Wednesday. The firm has a market capitalization of $3.74 billion, a P/E ratio of -15.47 and a beta of 1.62. The business has a fifty day simple moving average of $48.79 and a 200 day simple moving average of $51.21. CRISPR Therapeutics has a 12 month low of $42.86 and a 12 month high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.41. The company had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. During the same quarter in the prior year, the company posted ($1.41) earnings per share. As a group, sell-side analysts predict that CRISPR Therapeutics will post -5.13 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the transaction, the general counsel now owns 62,597 shares of the company’s stock, valued at approximately $2,896,989.16. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $198,680.04. Following the transaction, the chief executive officer now owns 226,540 shares of the company’s stock, valued at $10,484,271.20. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,382 shares of company stock worth $2,744,179. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRSP. Capital Advisors Inc. OK lifted its position in CRISPR Therapeutics by 8.1% during the third quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock valued at $14,122,000 after purchasing an additional 22,583 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new position in shares of CRISPR Therapeutics in the 2nd quarter worth about $2,375,000. International Assets Investment Management LLC purchased a new position in shares of CRISPR Therapeutics in the 3rd quarter worth about $1,825,000. Krilogy Financial LLC boosted its holdings in shares of CRISPR Therapeutics by 92.9% in the 2nd quarter. Krilogy Financial LLC now owns 20,872 shares of the company’s stock worth $1,127,000 after purchasing an additional 10,050 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of CRISPR Therapeutics by 1.0% in the 3rd quarter. FMR LLC now owns 2,376,166 shares of the company’s stock worth $111,632,000 after purchasing an additional 23,075 shares in the last quarter. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

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.