CRISPR Therapeutics (NASDAQ:CRSP) Trading 4.7% Higher - Here's Why

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s share price shot up 4.7% during mid-day trading on Thursday . The stock traded as high as $46.73 and last traded at $46.50. 495,549 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 2,338,765 shares. The stock had previously closed at $44.40.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRSP. Citigroup lowered their price target on shares of CRISPR Therapeutics from $89.00 to $82.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. Truist Financial boosted their price target on shares of CRISPR Therapeutics from $100.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Evercore ISI raised shares of CRISPR Therapeutics from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $60.00 to $99.00 in a report on Friday, February 14th. TD Cowen raised shares of CRISPR Therapeutics from a "sell" rating to a "hold" rating and set a $35.00 target price on the stock in a report on Wednesday, February 12th. Finally, Stifel Nicolaus lowered their target price on shares of CRISPR Therapeutics from $53.00 to $49.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, CRISPR Therapeutics has an average rating of "Hold" and an average price target of $74.40.

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CRISPR Therapeutics Stock Performance

The company's 50-day moving average is $42.52 and its 200-day moving average is $45.89. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of -9.94 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its 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 net margin of 981.54% and a negative return on equity of 18.46%. On average, analysts predict 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 the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total transaction of $1,013,472.00. Following the transaction, the chief executive officer now directly owns 171,613 shares in the company, valued at approximately $9,473,037.60. This represents a 9.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Greene bought 7,000 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were acquired at an average price of $44.85 per share, for a total transaction of $313,950.00. Following the completion of the transaction, the director now owns 7,000 shares in the company, valued at approximately $313,950. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.10% of the company's stock.

Institutional Trading of CRISPR Therapeutics

Hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in CRISPR Therapeutics during the 3rd quarter worth approximately $40,000. Ameriflex Group Inc. bought a new stake in CRISPR Therapeutics during the 4th quarter worth approximately $36,000. Darwin Wealth Management LLC bought a new stake in CRISPR Therapeutics during the 3rd quarter worth approximately $43,000. Highline Wealth Partners LLC bought a new stake in CRISPR Therapeutics during the 4th quarter worth approximately $39,000. Finally, Western Pacific Wealth Management LP increased its stake in CRISPR Therapeutics by 100.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company's stock worth $39,000 after purchasing an additional 500 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.