CRISPR Therapeutics (NASDAQ:CRSP) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of CRISPR Therapeutics (NASDAQ:CRSP - Free Report) to a sell rating in a research note issued to investors on Friday morning.

A number of other analysts have also recently commented on the company. Needham & Company LLC reiterated a "buy" rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a research report on Wednesday, February 12th. The Goldman Sachs Group reduced their price target on CRISPR Therapeutics from $66.00 to $57.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Cantor Fitzgerald restated a "neutral" rating on shares of CRISPR Therapeutics in a report on Wednesday, February 19th. Citigroup lowered their target price on CRISPR Therapeutics from $89.00 to $82.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. Finally, Morgan Stanley lifted their target price on CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an "underweight" rating in a research report on Friday, February 14th. Two investment 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $73.11.

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CRISPR Therapeutics Stock Performance

CRSP stock traded up $1.40 during trading on Friday, reaching $42.62. 1,339,230 shares of the company were exchanged, compared to its average volume of 1,526,983. The stock's 50 day moving average price is $43.09 and its 200 day moving average price is $45.37. CRISPR Therapeutics has a 52-week low of $36.52 and a 52-week high of $73.09. The company has a market cap of $3.66 billion, a P/E ratio of -9.75 and a beta of 1.77.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share 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%. As a group, equities research analysts forecast that CRISPR Therapeutics will post -5.16 EPS for the current year.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, COO Julianne Bruno sold 1,198 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total value of $50,819.16. Following the transaction, the chief operating officer now directly owns 8,263 shares of the company's stock, valued at approximately $350,516.46. This trade represents a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 18,360 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total value of $1,013,472.00. Following the completion of the transaction, the chief executive officer now directly owns 171,613 shares in the company, valued at approximately $9,473,037.60. This trade represents a 9.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,381 shares of company stock worth $1,608,243 over the last 90 days. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors have recently modified their holdings of CRSP. Wood Tarver Financial Group LLC acquired a new position in CRISPR Therapeutics during the fourth quarter valued at approximately $30,000. Ameriflex Group Inc. bought a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at $36,000. Highline Wealth Partners LLC acquired a new stake in CRISPR Therapeutics during the 4th quarter worth $39,000. Western Pacific Wealth Management LP lifted its holdings in CRISPR Therapeutics by 100.0% during the fourth 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 acquired a new position in CRISPR Therapeutics in the third quarter valued at about $40,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.