CRISPR Therapeutics AG (NASDAQ:CRSP – Get Free Report)’s stock price shot up 9.9% during mid-day trading on Thursday . The stock traded as high as $60.29 and last traded at $61.1490. 402,703 shares were traded during trading, a decline of 78% from the average daily volume of 1,812,992 shares. The stock had previously closed at $55.62.
Wall Street Analyst Weigh In
CRSP has been the topic of several recent analyst reports. Morgan Stanley set a $60.00 target price on CRISPR Therapeutics and gave the company an “equal weight” rating in a research note on Thursday, June 11th. Wall Street Zen raised shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Sanford C. Bernstein lifted their price objective on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Monday, April 20th. Finally, Truist Financial upgraded shares of CRISPR Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $67.78.
View Our Latest Stock Analysis on CRSP
CRISPR Therapeutics Price Performance
CRISPR Therapeutics (NASDAQ:CRSP – Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. The firm had revenue of $1.46 million for the quarter. Equities research analysts predict that CRISPR Therapeutics AG will post -4.89 earnings per share for the current year.
Insider Activity at CRISPR Therapeutics
In related news, insider Naimish Patel sold 3,786 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were 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 of the company’s stock, valued at approximately $1,076,636.34. This trade represents a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.
Hedge Funds Weigh In On CRISPR Therapeutics
Institutional investors have recently bought and sold shares of the business. UBS Group AG lifted its holdings in shares of CRISPR Therapeutics by 7.7% in the 4th quarter. UBS Group AG now owns 2,524,144 shares of the company’s stock valued at $132,366,000 after acquiring an additional 180,580 shares during the last quarter. SR One Capital Management LP grew its position in CRISPR Therapeutics by 94.4% in the third quarter. SR One Capital Management LP now owns 2,038,763 shares of the company’s stock worth $132,132,000 after acquiring an additional 989,812 shares in the last quarter. Clough Capital Partners L P bought a new stake in CRISPR Therapeutics during the third quarter worth approximately $1,491,000. Norges Bank bought a new stake in CRISPR Therapeutics during the fourth quarter worth approximately $25,706,000. Finally, Leonteq Securities AG purchased a new stake in CRISPR Therapeutics during the fourth quarter valued at approximately $1,155,000. Institutional investors own 69.20% of the company’s stock.
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.
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