CRISPR Therapeutics AG (NASDAQ:CRSP) Receives $67.85 Average PT from Analysts

CRISPR Therapeutics AG (NASDAQ:CRSP) has been assigned an average recommendation of “Hold” from the twenty-two analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $67.85.

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday, January 21st. Wedbush dropped their target price on shares of CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, December 23rd. Royal Bank Of Canada lifted their price target on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 11th. Finally, Chardan Capital cut their price objective on shares of CRISPR Therapeutics from $82.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th.

CRISPR Therapeutics Price Performance

Shares of NASDAQ CRSP opened at $45.88 on Friday. CRISPR Therapeutics has a 1 year low of $30.04 and a 1 year high of $78.48. The company’s 50-day moving average is $54.83 and its 200 day moving average is $58.04. The stock has a market capitalization of $4.37 billion, a P/E ratio of -8.21 and a beta of 1.72.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.17) earnings per share for the quarter, beating the consensus estimate of ($1.32) by $0.15. CRISPR Therapeutics had a negative return on equity of 21.23% and a negative net margin of 1,273.70%.The business had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $8.74 million. Research analysts anticipate that CRISPR Therapeutics will post -5.16 earnings per share for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $60.23, for a total value of $3,613,800.00. Following the sale, the chief executive officer owned 134,201 shares in the company, valued at $8,082,926.23. This represents a 30.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Orbis Allan Gray Ltd boosted its stake in CRISPR Therapeutics by 76.9% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock worth $134,467,000 after purchasing an additional 1,201,600 shares in the last quarter. Geode Capital Management LLC raised its holdings in CRISPR Therapeutics by 98.1% in the second quarter. Geode Capital Management LLC now owns 2,071,883 shares of the company’s stock worth $100,789,000 after buying an additional 1,025,979 shares during the last quarter. SR One Capital Management LP lifted its stake in shares of CRISPR Therapeutics by 94.4% in the third quarter. SR One Capital Management LP now owns 2,038,763 shares of the company’s stock worth $132,132,000 after buying an additional 989,812 shares in the last quarter. State Street Corp grew its holdings in shares of CRISPR Therapeutics by 35.6% during the second quarter. State Street Corp now owns 3,270,596 shares of the company’s stock valued at $159,082,000 after buying an additional 859,334 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of CRISPR Therapeutics during the second quarter valued at approximately $19,772,000. 69.20% of the stock is currently owned by institutional investors.

About CRISPR Therapeutics

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.