CRISPR Therapeutics (NASDAQ:CRSP) Shares Gap Up After Earnings Beat

CRISPR Therapeutics AG (NASDAQ:CRSP) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $39.62, but opened at $40.67. CRISPR Therapeutics shares last traded at $43.17, with a volume of 1,429,207 shares traded.

The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CRSP shares. JMP Securities reiterated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Bank of America cut their price target 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. Chardan Capital reiterated a “buy” rating and issued a $94.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. HC Wainwright initiated coverage on CRISPR Therapeutics in a research note on Monday, February 3rd. They issued a “buy” rating and a $65.00 target price on the stock. Finally, StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research note on Monday, December 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.28.

Insider Buying and Selling at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $55.10, for a total value of $826,500.00. Following the completion of the sale, the chief executive officer now directly owns 181,540 shares in the company, valued at $10,002,854. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of CRISPR Therapeutics

Large investors have recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new position in CRISPR Therapeutics during the fourth quarter worth $39,000. Western Pacific Wealth Management LP lifted its stake in shares of CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of CRISPR Therapeutics in the 3rd quarter valued at $40,000. Darwin Wealth Management LLC acquired a new position in shares of CRISPR Therapeutics in the 3rd quarter valued at $43,000. Finally, Eastern Bank acquired a new position in shares of CRISPR Therapeutics in the 3rd quarter valued at $70,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Stock Performance

The company has a 50 day moving average of $42.45 and a 200-day moving average of $46.40. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -15.29 and a beta of 1.67.

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.