CRISPR Therapeutics (NASDAQ:CRSP) Earns "Buy" Rating from Chardan Capital

Chardan Capital reiterated their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP - Free Report) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $94.00 target price on the stock.

A number of other brokerages have also issued reports on CRSP. Truist Financial cut their price objective on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, August 12th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $53.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. StockNews.com raised shares of CRISPR Therapeutics to a "sell" rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Finally, Barclays cut their price objective on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an "equal weight" rating for the company in a report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $74.94.

CRISPR Therapeutics Trading Down 2.3 %

NASDAQ CRSP traded down $1.16 on Tuesday, reaching $48.68. 1,697,326 shares of the stock were exchanged, compared to its average volume of 1,499,649. CRISPR Therapeutics has a one year low of $43.42 and a one year high of $91.10. The firm has a market capitalization of $4.15 billion, a PE ratio of -17.61 and a beta of 1.62. The company's 50-day simple moving average is $48.71 and its two-hundred day simple moving average is $51.40.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, topping analysts' consensus estimates of ($1.42) by $0.41. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The company had revenue of $0.60 million for the quarter, compared to analysts' expectations of $6.65 million. During the same quarter last year, the business earned ($1.41) EPS. Sell-side analysts forecast that CRISPR Therapeutics will post -5.17 earnings per share for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,089 shares of CRISPR Therapeutics stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following the transaction, the general counsel now owns 62,597 shares in the company, valued at $2,896,989.16. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Samarth Kulkarni sold 30,000 shares of CRISPR Therapeutics stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.62, for a total value of $1,668,600.00. Following the completion of the transaction, the chief executive officer now owns 196,540 shares in the company, valued at $10,931,554.80. This trade represents a 13.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,382 shares of company stock worth $2,744,179 over the last three months. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its stake in CRISPR Therapeutics by 12.7% in the third quarter. Franklin Resources Inc. now owns 7,097 shares of the company's stock valued at $339,000 after purchasing an additional 800 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of CRISPR Therapeutics during the third quarter worth about $40,000. Sanctuary Advisors LLC grew its stake in shares of CRISPR Therapeutics by 17.8% during the third quarter. Sanctuary Advisors LLC now owns 8,317 shares of the company's stock worth $398,000 after acquiring an additional 1,258 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of CRISPR Therapeutics by 11.3% during the third quarter. Sunbelt Securities Inc. now owns 2,955 shares of the company's stock worth $139,000 after acquiring an additional 300 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of CRISPR Therapeutics by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company's stock worth $47,383,000 after acquiring an additional 35,196 shares during the last quarter. Hedge funds and other 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.