CRISPR Therapeutics (NASDAQ:CRSP) Trading 1.2% Higher

CRISPR Therapeutics AG (NASDAQ:CRSP) shot up 1.2% during trading on Thursday . The stock traded as high as $55.34 and last traded at $54.43. 258,312 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,766,410 shares. The stock had previously closed at $53.81.

Wall Street Analyst Weigh In

CRSP has been the topic of several research analyst reports. Wolfe Research began coverage on shares of CRISPR Therapeutics in a research report on Thursday, February 15th. They set a “peer perform” rating on the stock. Barclays raised their target price on CRISPR Therapeutics from $61.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Royal Bank of Canada lifted their price target on CRISPR Therapeutics from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. Citigroup increased their price objective on CRISPR Therapeutics from $88.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Wells Fargo & Company upped their target price on shares of CRISPR Therapeutics from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, CRISPR Therapeutics currently has an average rating of “Hold” and a consensus target price of $76.29.

CRISPR Therapeutics Stock Up 1.5 %

The firm’s fifty day moving average is $67.75 and its two-hundred day moving average is $64.17.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Wednesday, February 21st. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.95. The company had revenue of $201.20 million for the quarter, compared to analysts’ expectations of $148.72 million. During the same period in the previous year, the business posted ($1.41) earnings per share. The business’s revenue was up 3253.3% on a year-over-year basis. On average, analysts expect that CRISPR Therapeutics AG will post -6.24 earnings per share for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the completion of the transaction, the chief executive officer now owns 187,377 shares in the company, valued at approximately $15,057,615.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel James R. Kasinger sold 2,801 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $78.26, for a total transaction of $219,206.26. Following the sale, the general counsel now directly owns 60,070 shares in the company, valued at approximately $4,701,078.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Samarth Kulkarni sold 20,000 shares of CRISPR Therapeutics stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the transaction, the chief executive officer now owns 187,377 shares of the company’s stock, valued at approximately $15,057,615.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,992 shares of company stock valued at $6,132,335. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several large investors have recently modified their holdings of CRSP. ARK Investment Management LLC raised its stake in shares of CRISPR Therapeutics by 19.2% in the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock valued at $534,360,000 after acquiring an additional 1,372,986 shares during the period. Capital International Investors lifted its stake in CRISPR Therapeutics by 0.8% in the fourth quarter. Capital International Investors now owns 6,134,450 shares of the company’s stock worth $384,017,000 after purchasing an additional 48,938 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of CRISPR Therapeutics by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 1,590,651 shares of the company’s stock valued at $99,575,000 after buying an additional 51,926 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of CRISPR Therapeutics by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 653,023 shares of the company’s stock valued at $40,879,000 after buying an additional 15,085 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of CRISPR Therapeutics in the fourth quarter worth approximately $38,661,000. Institutional investors 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.