CRISPR Therapeutics (NASDAQ:CRSP) Shares Gap Up – Time to Buy?

CRISPR Therapeutics AG (NASDAQ:CRSP – Get Free Report) shares gapped up prior to trading on Tuesday. The stock had previously closed at $57.34, but opened at $60.39. CRISPR Therapeutics shares last traded at $55.1520, with a volume of 520,040 shares changing hands.

Wall Street Analysts Forecast Growth

CRSP has been the topic of a number of analyst reports. Wall Street Zen raised shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Friday, July 17th. Morgan Stanley set a $60.00 price target on shares of CRISPR Therapeutics and gave the company an “equal weight” rating in a research report on Thursday, June 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, August 6th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $67.94.

View Our Latest Stock Report on CRSP

CRISPR Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 17.85 and a quick ratio of 17.85. The stock has a 50 day moving average price of $54.77 and a two-hundred day moving average price of $52.96. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of -11.54 and a beta of 1.76.

CRISPR Therapeutics (NASDAQ:CRSP – Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share (EPS) for the quarter. CRISPR Therapeutics had a negative return on equity of 24.39% and a negative net margin of 3,368.72%.The firm had revenue of $10.18 million for the quarter. As a group, analysts expect that CRISPR Therapeutics AG will post -4.47 EPS for the current year.

Insider Transactions at CRISPR Therapeutics

In related news, General Counsel James Kasinger sold 10,400 shares of CRISPR Therapeutics stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $60.24, for a total value of $626,496.00. Following the completion of the transaction, the general counsel owned 94,784 shares in the company, valued at approximately $5,709,788.16. The trade was a 9.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ali Behbahani sold 13,679 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $57.09, for a total transaction of $780,934.11. Following the sale, the director directly owned 16,637 shares in the company, valued at approximately $949,806.33. The trade was a 45.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its stake in shares of CRISPR Therapeutics by 131.8% in the 3rd quarter. Versant Capital Management Inc now owns 1,078 shares of the company’s stock valued at $60,000 after buying an additional 613 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of CRISPR Therapeutics during the second quarter worth approximately $585,000. NewEdge Advisors LLC raised its holdings in CRISPR Therapeutics by 131.3% in the second quarter. NewEdge Advisors LLC now owns 8,217 shares of the company’s stock valued at $448,000 after acquiring an additional 4,664 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in CRISPR Therapeutics in the second quarter worth approximately $970,000. Finally, Ameritas Advisory Services LLC purchased a new position in CRISPR Therapeutics in the second quarter worth approximately $56,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

About CRISPR Therapeutics

(Get Free Report)

CRISPR Therapeutics AG (NASDAQ: CRSP) is a biotechnology company focused on developing gene-editing medicines based on CRISPR/Cas9 technology. The company aims to treat serious diseases by precisely modifying genetic material in patients’ cells, with research programs spanning hematology, oncology, autoimmune diseases, and regenerative medicine.

Its lead product, CASGEVY (exagamglogene autotemcel), is a CRISPR/Cas9-based cell therapy developed with Vertex Pharmaceuticals. CASGEVY is approved in multiple markets, including the United States, United Kingdom, and European Union, for certain patients with sickle cell disease and transfusion-dependent beta thalassemia.

Further Reading

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