CRISPR Therapeutics’ (CRSP) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a report published on Thursday morning, Benzinga reports. They currently have a $86.00 target price on the stock.

CRSP has been the topic of several other reports. Citigroup increased their price target on CRISPR Therapeutics from $88.00 to $89.00 and gave the company a buy rating in a report on Thursday, April 18th. TheStreet upgraded CRISPR Therapeutics from a d+ rating to a c rating in a research note on Friday, February 23rd. Robert W. Baird upped their price target on shares of CRISPR Therapeutics from $46.00 to $52.00 and gave the company a neutral rating in a research report on Thursday. Wolfe Research assumed coverage on shares of CRISPR Therapeutics in a report on Thursday, February 15th. They issued a peer perform rating on the stock. Finally, Cantor Fitzgerald reaffirmed a neutral rating on shares of CRISPR Therapeutics in a report on Thursday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, CRISPR Therapeutics currently has an average rating of Hold and a consensus price target of $73.93.

CRISPR Therapeutics Trading Down 4.4 %

NASDAQ CRSP opened at $51.17 on Thursday. The stock has a 50-day moving average of $64.54 and a 200 day moving average of $64.80. CRISPR Therapeutics has a one year low of $37.55 and a one year high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $25.53 million. The firm’s revenue for the quarter was down 99.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.67) EPS. Analysts anticipate that CRISPR Therapeutics will post -5.98 earnings per share for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 20,000 shares of the business’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 directly owns 187,377 shares in the company, valued at approximately $15,057,615.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Raju Prasad sold 3,524 shares of CRISPR Therapeutics stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $72.69, for a total value of $256,159.56. Following the sale, the chief financial officer now directly owns 6,476 shares of the company’s stock, valued at $470,740.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Samarth Kulkarni sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $80.36, for a total value of $1,607,200.00. Following the transaction, the chief executive officer now directly owns 187,377 shares of the company’s stock, valued at $15,057,615.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,992 shares of company stock worth $6,132,335. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its holdings in shares of CRISPR Therapeutics by 21.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 33,378 shares of the company’s stock valued at $1,515,000 after purchasing an additional 5,948 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of CRISPR Therapeutics by 28.2% in the third quarter. Stratos Wealth Partners LTD. now owns 5,580 shares of the company’s stock valued at $253,000 after purchasing an additional 1,226 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of CRISPR Therapeutics by 11.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,527 shares of the company’s stock valued at $841,000 after purchasing an additional 1,879 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of CRISPR Therapeutics by 10.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 184,854 shares of the company’s stock valued at $8,391,000 after purchasing an additional 17,258 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of CRISPR Therapeutics by 12.9% in the third quarter. TD Asset Management Inc now owns 240,462 shares of the company’s stock valued at $10,915,000 after purchasing an additional 27,387 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors.

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.