CRISPR Therapeutics (NASDAQ:CRSP) Coverage Initiated at HC Wainwright

Investment analysts at HC Wainwright initiated coverage on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a note issued to investors on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $65.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 60.53% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, January 14th. Bank of America cut their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $53.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Finally, Chardan Capital restated a “buy” rating and set a $94.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.59.

CRISPR Therapeutics Trading Up 1.2 %

Shares of CRISPR Therapeutics stock opened at $40.49 on Monday. The company’s 50-day moving average price is $43.37 and its two-hundred day moving average price is $46.85. The stock has a market cap of $3.46 billion, a PE ratio of -14.31 and a beta of 1.67. CRISPR Therapeutics has a 52 week low of $36.52 and a 52 week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.41. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The business had revenue of $0.60 million for the quarter, compared to the consensus estimate of $6.65 million. During the same period in the prior year, the business posted ($1.41) earnings per share. On average, equities analysts predict that CRISPR Therapeutics will post -5.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Samarth Kulkarni sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.62, for a total value of $1,668,600.00. Following the transaction, the chief executive officer now owns 196,540 shares in the company, valued at $10,931,554.80. This trade represents a 13.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CRSP. Highline Wealth Partners LLC bought a new position in shares of CRISPR Therapeutics during the 4th quarter worth $39,000. Western Pacific Wealth Management LP increased its stake in shares of CRISPR Therapeutics by 100.0% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after buying an additional 500 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of CRISPR Therapeutics during the third quarter valued at approximately $40,000. Darwin Wealth Management LLC purchased a new position in shares of CRISPR Therapeutics in the 3rd quarter valued at approximately $43,000. Finally, Eastern Bank purchased a new position in shares of CRISPR Therapeutics during the third quarter valued at approximately $70,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

About CRISPR Therapeutics

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.