CRISPR Therapeutics (NASDAQ:CRSP) Coverage Initiated at HC Wainwright

Investment analysts at HC Wainwright began coverage on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research report issued on Monday, Marketbeat reports. The firm set a “buy” rating and a $65.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 60.53% from the company’s previous close.

Other analysts have also issued reports about the company. Needham & Company LLC reissued a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, January 14th. Bank of America dropped their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Barclays lowered their target price on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research note on Monday, December 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $53.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.59.

CRISPR Therapeutics Stock Performance

NASDAQ CRSP opened at $40.49 on Monday. The stock’s 50 day moving average price is $43.37 and its two-hundred day moving average price is $46.85. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -14.31 and a beta of 1.67. CRISPR Therapeutics has a 52 week low of $36.52 and a 52 week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.41. The business had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. During the same period in the previous year, the firm earned ($1.41) EPS. On average, equities research analysts forecast that CRISPR Therapeutics will post -5.1 EPS for the current year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 15,000 shares of the company’s 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 completion of the sale, the chief executive officer now owns 181,540 shares of the company’s stock, valued at approximately $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 is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Large investors have recently modified their holdings of the business. Highline Wealth Partners LLC purchased a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at approximately $39,000. Western Pacific Wealth Management LP increased its stake in CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in CRISPR Therapeutics in the 3rd quarter valued at approximately $40,000. Darwin Wealth Management LLC purchased a new position in shares of CRISPR Therapeutics during the third quarter valued at approximately $43,000. Finally, Eastern Bank acquired a new stake in shares of CRISPR Therapeutics in the third quarter worth approximately $70,000. 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.