CRISPR Therapeutics (NASDAQ:CRSP) Shares Gap Up – Here’s Why

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $49.72, but opened at $52.25. CRISPR Therapeutics shares last traded at $54.02, with a volume of 1,836,140 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CRSP shares. Truist Financial boosted their price objective on CRISPR Therapeutics from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. HC Wainwright reiterated a “buy” rating and set a $65.00 price target on shares of CRISPR Therapeutics in a report on Thursday, February 13th. Morgan Stanley raised their price objective on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, February 14th. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a research note on Wednesday. Finally, Chardan Capital decreased their price target on shares of CRISPR Therapeutics from $94.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.40.

CRISPR Therapeutics Price Performance

The stock has a market capitalization of $4.33 billion, a P/E ratio of -11.55 and a beta of 1.67. The company’s 50 day simple moving average is $42.06 and its two-hundred day simple moving average is $46.04.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. On average, research analysts anticipate that CRISPR Therapeutics AG will post -5.03 earnings per share for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $55.10, for a total transaction of $826,500.00. Following the sale, the chief executive officer now owns 181,540 shares of the company’s stock, valued at $10,002,854. This represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in CRISPR Therapeutics in the 3rd quarter worth approximately $40,000. Darwin Wealth Management LLC bought a new stake in shares of CRISPR Therapeutics during the third quarter worth $43,000. Highline Wealth Partners LLC bought a new stake in shares of CRISPR Therapeutics during the fourth quarter worth $39,000. Western Pacific Wealth Management LP lifted its stake in shares of CRISPR Therapeutics by 100.0% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after acquiring an additional 500 shares during the period. Finally, Eastern Bank acquired a new stake in CRISPR Therapeutics in the third quarter worth about $70,000. 69.20% of the stock is currently 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.