CRISPR Therapeutics (NASDAQ:CRSP) Trading 11.6% Higher – Here’s Why

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) were up 11.6% during trading on Thursday . The stock traded as high as $57.88 and last traded at $58.2710. Approximately 562,259 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,737,182 shares. The stock had previously closed at $52.21.

Wall Street Analyst Weigh In

CRSP has been the topic of a number of analyst reports. Citizens Jmp reiterated a “market outperform” rating and issued a $80.00 price target on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Citigroup reissued a “market outperform” rating on shares of CRISPR Therapeutics in a report on Tuesday, August 25th. HC Wainwright restated a “buy” rating on shares of CRISPR Therapeutics in a research note on Monday, August 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 target price on shares of CRISPR Therapeutics in a report on Monday, August 31st. Finally, Wall Street Zen upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $67.94.

CRISPR Therapeutics Stock Down 1.3%

The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of -11.88 and a beta of 1.76. The firm has a fifty day moving average price of $53.08 and a 200 day moving average price of $52.83. The company has a current ratio of 17.85, a quick ratio of 17.85 and a debt-to-equity ratio of 0.34.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share for the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. The business had revenue of $10.18 million for the quarter. Sell-side analysts anticipate that CRISPR Therapeutics AG will post -4.47 EPS for the current fiscal year.

Institutional Trading of CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in CRISPR Therapeutics by 175.1% during the 2nd quarter. Versant Capital Management Inc now owns 465 shares of the company’s stock worth $25,000 after buying an additional 296 shares in the last quarter. Ramirez Asset Management Inc. bought a new position in shares of CRISPR Therapeutics in the fourth quarter worth about $26,000. Rothschild Investment LLC raised its stake in shares of CRISPR Therapeutics by 836.7% in the fourth quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock worth $29,000 after acquiring an additional 502 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of CRISPR Therapeutics by 263.0% in the fourth quarter. Larson Financial Group LLC now owns 882 shares of the company’s stock worth $46,000 after acquiring an additional 639 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of CRISPR Therapeutics during the second quarter worth approximately $56,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

About CRISPR Therapeutics

CRISPR Therapeutics AG (NASDAQ: CRSP) is a biotechnology company focused on developing gene-editing medicines using CRISPR/Cas9 technology. The company’s programs are designed to modify disease-associated genes in human cells, with the goal of treating serious conditions across hematology, oncology, autoimmune disease and regenerative medicine.

Its most advanced product is Casgevy (exa-cel), an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals. Casgevy uses CRISPR/Cas9 gene editing to modify a patient’s blood stem cells and is approved in several markets for eligible patients with sickle cell disease and transfusion-dependent beta thalassemia.