CRISPR Therapeutics (NASDAQ:CRSP) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research report sent to investors on Wednesday morning, MarketBeat reports. The brokerage currently has a $80.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of CRISPR Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (up from $105.00) on shares of CRISPR Therapeutics in a research report on Tuesday, March 17th. Truist Financial raised CRISPR Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Morgan Stanley set a $60.00 price objective on CRISPR Therapeutics and gave the stock an “equal weight” rating in a research report on Thursday, June 11th. Finally, Evercore restated an “outperform” rating and set a $76.00 price target on shares of CRISPR Therapeutics in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.78.

CRISPR Therapeutics Stock Down 2.6%

CRSP stock opened at $59.20 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 17.97 and a quick ratio of 17.96. The stock has a market capitalization of $5.71 billion, a P/E ratio of -9.52 and a beta of 1.71. The business has a fifty day moving average price of $53.32 and a 200-day moving average price of $53.16. CRISPR Therapeutics has a 1-year low of $44.12 and a 1-year high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($1.28) EPS for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%.The firm had revenue of $1.46 million during the quarter. Equities analysts forecast that CRISPR Therapeutics will post -4.89 earnings per share for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,786 shares of CRISPR Therapeutics stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $55.62, for a total transaction of $210,577.32. Following the completion of the sale, the insider directly owned 19,357 shares in the company, valued at $1,076,636.34. This trade represents a 16.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CRSP. Royal Bank of Canada grew its stake in CRISPR Therapeutics by 28.2% during the 1st quarter. Royal Bank of Canada now owns 142,696 shares of the company’s stock worth $4,856,000 after purchasing an additional 31,392 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of CRISPR Therapeutics during the first quarter worth about $861,000. Woodline Partners LP increased its stake in shares of CRISPR Therapeutics by 34.3% during the first quarter. Woodline Partners LP now owns 136,483 shares of the company’s stock worth $4,645,000 after buying an additional 34,883 shares during the period. Prudential Financial Inc. acquired a new stake in CRISPR Therapeutics in the second quarter valued at approximately $237,000. Finally, Invesco Ltd. lifted its stake in CRISPR Therapeutics by 138.4% in the second quarter. Invesco Ltd. now owns 66,648 shares of the company’s stock worth $3,242,000 after acquiring an additional 38,691 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

About CRISPR Therapeutics

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.