CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Up 3.4% - Here's Why

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s stock price shot up 3.4% during mid-day trading on Wednesday . The stock traded as high as $55.88 and last traded at $53.97. 2,162,156 shares changed hands during trading, a decline of 7% from the average session volume of 2,321,332 shares. The stock had previously closed at $52.22.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CRSP. StockNews.com raised CRISPR Therapeutics to a "sell" rating in a research report on Thursday, February 13th. Barclays raised their target price on CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. Evercore ISI raised CRISPR Therapeutics from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $60.00 to $99.00 in a research report on Friday, February 14th. Truist Financial raised their target price on CRISPR Therapeutics from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group lowered their target price on CRISPR Therapeutics from $66.00 to $57.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $74.40.

CRISPR Therapeutics Stock Performance

The company has a 50 day moving average price of $42.25 and a 200 day moving average price of $46.04. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -10.96 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. Research analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 18,360 shares of CRISPR Therapeutics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total transaction of $1,013,472.00. Following the completion of the transaction, the chief executive officer now owns 171,613 shares in the company, valued at approximately $9,473,037.60. The trade was a 9.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of CRISPR Therapeutics by 158.7% in the 3rd quarter. Blue Trust Inc. now owns 3,844 shares of the company's stock worth $181,000 after buying an additional 2,358 shares during the last quarter. Eastern Bank purchased a new position in shares of CRISPR Therapeutics in the 3rd quarter worth approximately $70,000. International Assets Investment Management LLC purchased a new position in shares of CRISPR Therapeutics in the 3rd quarter worth approximately $1,825,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of CRISPR Therapeutics by 15.9% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 40,568 shares of the company's stock worth $1,906,000 after buying an additional 5,567 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CRISPR Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,080 shares of the company's stock worth $146,000 after buying an additional 545 shares during the last quarter. Institutional investors and hedge funds 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.