CRISPR Therapeutics’ (CRSP) Market Outperform Rating Reaffirmed at Citizens Jmp

Citizens Jmp restated their market outperform rating on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research note released on Monday,Benzinga reports. They currently have a $80.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. Truist Financial raised shares of CRISPR Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (up from $105.00) on shares of CRISPR Therapeutics in a report on Tuesday, March 17th. Sanford C. Bernstein increased their price objective on CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. UBS Group set a $80.00 price objective on shares of CRISPR Therapeutics in a research note on Friday, June 12th. Finally, Citigroup restated a “market outperform” rating on shares of CRISPR Therapeutics in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $67.78.

CRISPR Therapeutics Stock Performance

Shares of CRSP stock opened at $60.57 on Monday. CRISPR Therapeutics has a 12 month low of $44.12 and a 12 month high of $78.48. The company has a current ratio of 17.97, a quick ratio of 17.96 and a debt-to-equity ratio of 0.32. The company has a market cap of $5.84 billion, a P/E ratio of -9.81 and a beta of 1.71. The firm has a fifty day moving average price of $52.92 and a 200 day moving average price of $53.09.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share (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 business had revenue of $1.46 million for the quarter. Sell-side analysts predict that CRISPR Therapeutics will post -4.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,786 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $55.62, for a total value of $210,577.32. Following the completion of the transaction, the insider directly owned 19,357 shares in the company, valued at approximately $1,076,636.34. The trade was a 16.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. GSK plc acquired a new position in shares of CRISPR Therapeutics during the 4th quarter valued at about $168,890,000. Orbis Allan Gray Ltd lifted its holdings in shares of CRISPR Therapeutics by 76.9% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock worth $134,467,000 after acquiring an additional 1,201,600 shares during the period. State Street Corp boosted its position in shares of CRISPR Therapeutics by 35.6% in the second quarter. State Street Corp now owns 3,270,596 shares of the company’s stock worth $159,082,000 after acquiring an additional 859,334 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of CRISPR Therapeutics by 7.5% in the fourth quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock worth $551,777,000 after acquiring an additional 735,084 shares during the last quarter. Finally, Norges Bank purchased a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $25,706,000. 69.20% of the stock is owned by institutional investors and hedge funds.

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.