CRISPR Therapeutics (NASDAQ:CRSP) Upgraded by StockNews.com to “Sell” Rating

CRISPR Therapeutics (NASDAQ:CRSP) was upgraded by research analysts at StockNews.com to a “sell” rating in a research note issued to investors on Thursday.

Several other research analysts have also weighed in on CRSP. Chardan Capital reduced their target price on CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $53.00 price objective on shares of CRISPR Therapeutics in a research report on Wednesday. Truist Financial lowered their target price on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Rodman & Renshaw assumed coverage on shares of CRISPR Therapeutics in a report on Friday, August 2nd. They issued a “buy” rating and a $90.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.94.

CRISPR Therapeutics Trading Up 0.7 %

NASDAQ CRSP opened at $50.72 on Thursday. CRISPR Therapeutics has a 12 month low of $43.42 and a 12 month high of $91.10. The company has a market capitalization of $4.31 billion, a PE ratio of -15.70 and a beta of 1.67. The stock has a 50-day simple moving average of $47.29 and a 200 day simple moving average of $52.24.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.41. The firm had revenue of $0.60 million for the quarter, compared to the consensus estimate of $6.65 million. During the same period in the previous year, the business earned ($1.41) EPS. As a group, sell-side analysts predict that CRISPR Therapeutics will post -5.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 4,293 shares of the company’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 sale, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at approximately $10,484,271.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $198,680.04. Following the transaction, the chief executive officer now directly owns 226,540 shares in the company, valued at $10,484,271.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Global Trust Asset Management LLC grew its position in shares of CRISPR Therapeutics by 150.0% in the second quarter. Global Trust Asset Management LLC now owns 500 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Larson Financial Group LLC grew its holdings in CRISPR Therapeutics by 95.5% in the 2nd quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock valued at $31,000 after buying an additional 276 shares in the last quarter. GPS Wealth Strategies Group LLC increased its position in CRISPR Therapeutics by 99.7% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company’s stock worth $33,000 after buying an additional 307 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of CRISPR Therapeutics during the second quarter worth $35,000. Finally, Denver PWM LLC bought a new stake in shares of CRISPR Therapeutics in the second quarter valued at about $45,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

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.