Chardan Capital Reaffirms “Buy” Rating for CRISPR Therapeutics (NASDAQ:CRSP)

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “buy” rating reissued by stock analysts at Chardan Capital in a note issued to investors on Tuesday,Benzinga reports. They presently have a $94.00 target price on the stock. Chardan Capital’s target price indicates a potential upside of 96.74% from the stock’s current price.

CRSP has been the subject of several other reports. Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $53.00 target price on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Truist Financial reduced their price target on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research note on Thursday, November 7th. Finally, Barclays decreased their target price on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.93.

CRISPR Therapeutics Stock Performance

Shares of CRSP opened at $47.78 on Tuesday. CRISPR Therapeutics has a 52 week low of $43.42 and a 52 week high of $91.10. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -16.88 and a beta of 1.62. The stock has a fifty day moving average of $48.82 and a 200-day moving average of $51.33.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.41. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. The firm had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. During the same period last year, the company earned ($1.41) earnings per share. As a group, equities analysts forecast that CRISPR Therapeutics will post -5.17 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In related news, General Counsel James R. Kasinger sold 1,089 shares of CRISPR Therapeutics stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the sale, the general counsel now owns 62,597 shares of the company’s stock, valued at approximately $2,896,989.16. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 30,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.62, for a total transaction of $1,668,600.00. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold 50,382 shares of company stock valued at $2,744,179 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CRSP. SFE Investment Counsel grew its holdings in CRISPR Therapeutics by 3.6% during the second quarter. SFE Investment Counsel now owns 5,846 shares of the company’s stock worth $316,000 after buying an additional 203 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of CRISPR Therapeutics by 4.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,606 shares of the company’s stock valued at $249,000 after purchasing an additional 211 shares during the last quarter. Boston Family Office LLC raised its holdings in shares of CRISPR Therapeutics by 2.2% in the third quarter. Boston Family Office LLC now owns 9,763 shares of the company’s stock valued at $459,000 after purchasing an additional 213 shares during the last quarter. Bedell Frazier Investment Counselling LLC lifted its position in shares of CRISPR Therapeutics by 0.8% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 26,357 shares of the company’s stock valued at $1,238,000 after purchasing an additional 218 shares in the last quarter. Finally, National Bank of Canada FI grew its position in CRISPR Therapeutics by 35.0% in the 2nd quarter. National Bank of Canada FI now owns 848 shares of the company’s stock worth $46,000 after purchasing an additional 220 shares in the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Company Profile

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.