CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Up 11.2% – What’s Next?

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) shot up 11.2% during mid-day trading on Wednesday . The stock traded as high as $58.37 and last traded at $58.8950. 2,092,143 shares changed hands during mid-day trading, an increase of 18% from the average session volume of 1,767,027 shares. The stock had previously closed at $52.97.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CRSP shares. Citizens Jmp reissued a “market outperform” rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research note on Monday, July 6th. Sanford C. Bernstein upped their price objective on CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Morgan Stanley set a $60.00 target price on shares of CRISPR Therapeutics and gave the company an “equal weight” rating in a report on Thursday, June 11th. Finally, UBS Group set a $80.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.06.

CRISPR Therapeutics Stock Up 11.7%

The company has a quick ratio of 17.85, a current ratio of 17.85 and a debt-to-equity ratio of 0.34. The company has a 50 day simple moving average of $52.49 and a two-hundred day simple moving average of $52.23. The company has a market capitalization of $5.72 billion, a P/E ratio of -12.38 and a beta of 1.74.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($0.94) earnings per share (EPS) for the quarter. The company had revenue of $10.18 million during the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. As a group, equities analysts predict that CRISPR Therapeutics AG will post -4.53 EPS for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,786 shares of CRISPR Therapeutics stock in a transaction on 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 transaction, the insider directly owned 19,357 shares of the company’s stock, valued at $1,076,636.34. The trade was a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Several institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC raised its position in CRISPR Therapeutics by 7.5% in the 4th quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock worth $551,777,000 after purchasing an additional 735,084 shares during the period. Orbis Allan Gray Ltd grew its stake in shares of CRISPR Therapeutics by 19.4% during the fourth quarter. Orbis Allan Gray Ltd now owns 5,950,145 shares of the company’s stock valued at $312,026,000 after buying an additional 968,060 shares during the last quarter. Capital International Investors raised its holdings in shares of CRISPR Therapeutics by 4.3% in the fourth quarter. Capital International Investors now owns 5,892,745 shares of the company’s stock worth $309,016,000 after buying an additional 243,487 shares during the period. State Street Corp raised its holdings 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 buying an additional 859,334 shares during the period. Finally, GSK plc bought a new stake in shares of CRISPR Therapeutics during the 4th quarter worth approximately $168,890,000. Institutional investors own 69.20% of the company’s stock.

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 ?-thalassemia in collaboration with Vertex Pharmaceuticals.