StockNews.com Upgrades CRISPR Therapeutics (NASDAQ:CRSP) to “Sell”

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

CRSP has been the topic of a number of other reports. Needham & Company LLC reduced their price target on shares of CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada decreased their price target on CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Rodman & Renshaw started coverage on CRISPR Therapeutics in a research note on Friday, August 2nd. They issued a “buy” rating and a $90.00 price objective for the company. Truist Financial dropped their target price on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Stifel Nicolaus reduced their price target on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus target price of $75.19.

CRISPR Therapeutics Stock Performance

CRSP stock opened at $50.76 on Tuesday. The firm has a market cap of $4.32 billion, a PE ratio of -15.72 and a beta of 1.68. CRISPR Therapeutics has a one year low of $43.42 and a one year high of $91.10. The firm’s 50 day moving average price is $47.11 and its 200-day moving average price is $52.44.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Monday, August 5th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The firm had revenue of $0.52 million during the quarter, compared to analyst estimates of $12.31 million. The firm’s revenue was down 99.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.98) earnings per share. Equities research analysts predict that CRISPR Therapeutics will post -5.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the sale, the general counsel now owns 62,597 shares of the company’s stock, valued at approximately $2,896,989.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 4,293 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was 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 approximately $10,484,271.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the sale, the general counsel now directly owns 62,597 shares of the company’s stock, valued at $2,896,989.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Capital International Investors boosted its stake in CRISPR Therapeutics by 27.8% during 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 period. SR One Capital Management LP purchased a new stake in shares of CRISPR Therapeutics in the first quarter valued at about $71,496,000. Farallon Capital Management LLC purchased a new position in shares of CRISPR Therapeutics during the second quarter worth about $28,625,000. Avoro Capital Advisors LLC acquired a new position in CRISPR Therapeutics in the 1st quarter valued at about $28,599,000. Finally, Marshall Wace LLP purchased a new stake in CRISPR Therapeutics during the 2nd quarter valued at approximately $10,078,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

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.