Citizens Jmp Reaffirms Market Outperform Rating for CRISPR Therapeutics (NASDAQ:CRSP)

by · The Markets Daily

CRISPR Therapeutics (NASDAQ:CRSP – Get Free Report)‘s stock had its “market outperform” rating restated by research analysts at Citizens Jmp in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $86.00 price objective on the stock. Citizens Jmp’s price objective points to a potential upside of 48.51% from the stock’s current price.

Several other equities research analysts also recently weighed in on CRSP. Royal Bank Of Canada upped their price objective on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 11th. Wells Fargo & Company set a $75.00 price target on shares of CRISPR Therapeutics in a research report on Monday, October 13th. Needham & Company LLC reduced their price target on shares of CRISPR Therapeutics from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Robert W. Baird lowered their price objective on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Wednesday, October 8th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.35.

Check Out Our Latest Stock Analysis on CRSP

CRISPR Therapeutics Trading Up 3.7%

Shares of NASDAQ CRSP opened at $57.91 on Tuesday. CRISPR Therapeutics has a 12-month low of $30.04 and a 12-month high of $78.48. The company has a market cap of $5.52 billion, a PE ratio of -10.36 and a beta of 1.74. The stock has a 50 day simple moving average of $58.36 and a 200-day simple moving average of $56.97.

CRISPR Therapeutics (NASDAQ:CRSP – Get Free Report) last announced its earnings results on Monday, November 10th. The company reported ($1.17) earnings per share for the quarter, beating the consensus estimate of ($1.32) by $0.15. CRISPR Therapeutics had a negative return on equity of 21.23% and a negative net margin of 1,273.70%.The firm had revenue of $0.89 million for the quarter, compared to the consensus estimate of $8.74 million. Sell-side analysts forecast that CRISPR Therapeutics will post -5.16 earnings per share for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other news, General Counsel James R. Kasinger sold 1,076 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total transaction of $71,661.60. Following the completion of the sale, the general counsel owned 83,402 shares in the company, valued at approximately $5,554,573.20. This represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Samarth Kulkarni sold 50,895 shares of CRISPR Therapeutics stock in a transaction on Friday, October 17th. The stock was sold at an average price of $67.91, for a total value of $3,456,279.45. Following the completion of the transaction, the chief executive officer owned 254,201 shares in the company, valued at $17,262,789.91. The trade was a 16.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 56,213 shares of company stock valued at $3,810,458. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SVB Wealth LLC purchased a new position in CRISPR Therapeutics in the 1st quarter worth about $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of CRISPR Therapeutics in the second quarter worth about $33,000. Thompson Investment Management Inc. purchased a new position in shares of CRISPR Therapeutics in the third quarter worth approximately $33,000. Optiver Holding B.V. increased its position in shares of CRISPR Therapeutics by 71.4% in the third quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock worth $33,000 after acquiring an additional 210 shares in the last quarter. Finally, Strategic Advocates LLC acquired a new stake in shares of CRISPR Therapeutics during the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

About CRISPR Therapeutics

(Get Free Report)

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.

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