CRISPR Therapeutics (NASDAQ:CRSP) Trading 0.9% Higher - Here's What Happened

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) were up 0.9% during mid-day trading on Friday . The stock traded as high as $44.27 and last traded at $43.72. Approximately 352,232 shares changed hands during trading, a decline of 84% from the average daily volume of 2,230,294 shares. The stock had previously closed at $43.31.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CRSP shares. The Goldman Sachs Group lowered their target price on shares of CRISPR Therapeutics from $66.00 to $57.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Needham & Company LLC restated a "buy" rating and issued a $84.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, February 12th. JMP Securities restated a "market outperform" rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a report on Thursday, February 13th. TD Cowen upgraded shares of CRISPR Therapeutics from a "sell" rating to a "hold" rating and set a $35.00 price objective for the company in a report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price objective on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an "underweight" rating in a report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, CRISPR Therapeutics currently has a consensus rating of "Hold" and an average target price of $73.11.

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CRISPR Therapeutics Stock Performance

The business's 50-day moving average price is $42.79 and its 200-day moving average price is $45.77. The stock has a market cap of $3.91 billion, a P/E ratio of -10.42 and a beta of 1.77.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings data 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 net margin of 981.54% and a negative return on equity of 18.46%. As a group, equities research analysts expect that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, Director John Greene bought 7,000 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $44.85 per share, for a total transaction of $313,950.00. Following the transaction, the director now owns 7,000 shares of the company's stock, valued at $313,950. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Samarth Kulkarni sold 18,360 shares of the 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 sale, the chief executive officer now directly owns 171,613 shares in the company, valued at $9,473,037.60. This trade represents a 9.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Wood Tarver Financial Group LLC bought a new position in CRISPR Therapeutics in the 4th quarter worth about $30,000. Ameriflex Group Inc. bought a new position in CRISPR Therapeutics in the 4th quarter worth about $36,000. Highline Wealth Partners LLC bought a new position in CRISPR Therapeutics in the 4th quarter worth about $39,000. Western Pacific Wealth Management LP grew its stake in CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company's stock worth $39,000 after acquiring an additional 500 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in CRISPR Therapeutics in the 3rd quarter worth about $40,000. 69.20% of the stock is currently owned by institutional investors.

About CRISPR Therapeutics

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.