CRISPR Therapeutics (CRSP) Shares Up 5.5%

CRISPR Therapeutics (NASDAQ:CRSP) shot up 5.5% during trading on Thursday . The company traded as high as $52.86 and last traded at $52.56. 1,014,217 shares were traded during mid-day trading, a decline of 12% from the average session volume of 1,149,049 shares. The stock had previously closed at $49.81.

A number of brokerages have recently commented on CRSP. Goldman Sachs began coverage on shares of CRISPR Therapeutics in a research report on Friday, April 6th. They issued a “buy” rating and a $86.00 target price for the company. ValuEngine upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. TheStreet upgraded shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a research report on Friday, March 16th. Zacks Investment Research upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $65.00 target price on shares of CRISPR Therapeutics in a research report on Friday, March 9th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $63.95.

The stock has a market capitalization of $2,323.91, a PE ratio of -30.74 and a beta of 3.56.



In related news, insider Tyler Dylan-Hyde sold 66,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $28.03, for a total transaction of $1,849,980.00. Following the completion of the sale, the insider now directly owns 25,204 shares in the company, valued at $706,468.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 39.98% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC purchased a new position in CRISPR Therapeutics in the 4th quarter valued at $20,160,000. BlackRock Inc. increased its stake in shares of CRISPR Therapeutics by 16,623.9% during the 4th quarter. BlackRock Inc. now owns 552,558 shares of the company’s stock valued at $12,974,000 after acquiring an additional 549,254 shares during the last quarter. Opaleye Management Inc. acquired a new position in shares of CRISPR Therapeutics during the 4th quarter valued at about $6,597,000. Capital Advisors Inc. OK acquired a new position in shares of CRISPR Therapeutics during the 4th quarter valued at about $3,515,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of CRISPR Therapeutics during the 3rd quarter valued at about $2,384,000. Hedge funds and other institutional investors own 26.50% of the company’s stock.

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CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG, a gene editing company, focuses on developing transformative gene-based medicines for the treatment of serious human diseases using its regularly interspaced short palindromic repeats associated protein-9 (CRISPR/Cas9) gene-editing platform in Switzerland. Its lead product candidate is CTX001, which targets sickle cell disease and beta-thalassemia with an ex vivo approach whereby cells are harvested from a patient, treated with a CRISPR/Cas9-based therapeutic and reintroduced into the patient.

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