CRISPR Therapeutics (NASDAQ:CRSP) Upgraded at Truist Financial

Truist Financial upgraded shares of CRISPR Therapeutics (NASDAQ:CRSP) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on CRSP. Citigroup reissued a “buy” rating on shares of CRISPR Therapeutics in a research note on Monday, February 16th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective (up from $105.00) on shares of CRISPR Therapeutics in a research report on Tuesday, March 17th. Citizens Jmp lowered their price objective on shares of CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a research note on Friday, January 30th. Bank of America dropped their target price on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Finally, Morgan Stanley reissued an “underweight” rating and set a $33.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, CRISPR Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.53.

CRISPR Therapeutics Trading Down 3.8%

Shares of CRISPR Therapeutics stock opened at $45.75 on Wednesday. The business has a 50-day moving average price of $52.41 and a two-hundred day moving average price of $56.83. CRISPR Therapeutics has a 1-year low of $30.04 and a 1-year high of $78.48. The company has a market cap of $4.39 billion, a P/E ratio of -7.02 and a beta of 1.72.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Friday, February 13th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.22). CRISPR Therapeutics had a negative net margin of 16,569.77% and a negative return on equity of 26.31%. The business had revenue of $0.86 million during the quarter, compared to analyst estimates of $4.72 million. During the same period in the prior year, the firm earned ($1.01) earnings per share. The firm’s revenue for the quarter was down 97.8% compared to the same quarter last year. Equities research analysts forecast that CRISPR Therapeutics will post -5.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel James R. Kasinger sold 3,450 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $48.26, for a total transaction of $166,497.00. Following the transaction, the general counsel directly owned 91,240 shares of the company’s stock, valued at $4,403,242.40. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Naimish Patel sold 3,150 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $48.26, for a total value of $152,019.00. Following the completion of the transaction, the insider owned 13,143 shares in the company, valued at approximately $634,281.18. This represents a 19.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 141,828 shares of company stock worth $7,744,397. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc increased its position in shares of CRISPR Therapeutics by 59.7% during the second quarter. Legal & General Group Plc now owns 129,567 shares of the company’s stock worth $6,302,000 after acquiring an additional 48,412 shares in the last quarter. Philadelphia Trust Co. bought a new position in CRISPR Therapeutics in the 2nd quarter valued at about $2,444,000. JPMorgan Chase & Co. boosted its stake in CRISPR Therapeutics by 98.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 593,416 shares of the company’s stock valued at $38,459,000 after purchasing an additional 294,222 shares during the last quarter. Nwam LLC boosted its stake in CRISPR Therapeutics by 455.7% during the 3rd quarter. Nwam LLC now owns 101,769 shares of the company’s stock valued at $6,770,000 after purchasing an additional 83,454 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in CRISPR Therapeutics by 44.7% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 283,111 shares of the company’s stock worth $18,348,000 after purchasing an additional 87,509 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.