Naimish Patel Purchases 1,508 Shares of CRISPR Therapeutics (NASDAQ:CRSP) Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) insider Naimish Patel purchased 1,508 shares of the stock in a transaction on Thursday, April 3rd. The shares were acquired at an average cost of $32.96 per share, with a total value of $49,703.68. Following the transaction, the insider directly owned 1,508 shares in the company, valued at $49,703.68. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

CRISPR Therapeutics Trading Down 1.1%

Shares of CRISPR Therapeutics stock opened at $53.69 on Thursday. The company’s fifty day simple moving average is $55.00 and its two-hundred day simple moving average is $58.32. The company has a market cap of $5.12 billion, a P/E ratio of -9.60 and a beta of 1.70. CRISPR Therapeutics AG has a 12-month low of $30.04 and a 12-month high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Monday, November 10th. The company reported ($1.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.15. The firm had revenue of $0.89 million for the quarter, compared to the consensus estimate of $8.74 million. CRISPR Therapeutics had a negative return on equity of 21.23% and a negative net margin of 1,273.70%. Analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. lifted its position in CRISPR Therapeutics by 196.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company’s stock valued at $30,000 after purchasing an additional 382 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of CRISPR Therapeutics during the 2nd quarter valued at about $33,000. Thompson Investment Management Inc. bought a new position in shares of CRISPR Therapeutics in the 3rd quarter valued at about $33,000. Optiver Holding B.V. grew its position in CRISPR Therapeutics by 71.4% in the third quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock worth $33,000 after acquiring an additional 210 shares in the last quarter. Finally, Strategic Advocates LLC bought a new stake in CRISPR Therapeutics during the third quarter worth approximately $34,000. Institutional investors own 69.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Bank of America decreased their price target on CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Wells Fargo & Company set a $75.00 target price on shares of CRISPR Therapeutics in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Wednesday, January 21st. Robert W. Baird decreased their price objective on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Finally, Chardan Capital lowered their price objective on shares of CRISPR Therapeutics from $82.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $68.15.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.