CRISPR Therapeutics AG (NASDAQ:CRSP) Receives Average Rating of “Hold” from Brokerages

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) have received an average recommendation of “Hold” from the nineteen research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $75.63.

CRSP has been the topic of several recent research reports. Stifel Nicolaus reduced their price target on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Guggenheim reissued a “neutral” rating on shares of CRISPR Therapeutics in a research note on Friday, June 28th. Piper Sandler restated an “overweight” rating and issued a $105.00 price objective on shares of CRISPR Therapeutics in a research note on Monday, June 17th. Needham & Company LLC cut their target price on shares of CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Truist Financial decreased their price objective on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, August 12th.

CRISPR Therapeutics Stock Down 3.0 %

CRSP stock opened at $46.74 on Thursday. The firm has a 50 day moving average of $50.23 and a two-hundred day moving average of $56.60. CRISPR Therapeutics has a 12 month low of $37.55 and a 12 month high of $91.10. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -17.18 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Monday, August 5th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The business had revenue of $0.52 million during the quarter, compared to the consensus estimate of $12.31 million. During the same period in the prior year, the company earned ($0.98) EPS. The company’s revenue for the quarter was down 99.3% on a year-over-year basis. On average, research analysts expect that CRISPR Therapeutics will post -5.6 EPS for the current fiscal year.

Institutional Trading of CRISPR Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital International Investors increased its holdings in CRISPR Therapeutics by 27.8% in the 1st quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock worth $534,175,000 after buying an additional 1,702,624 shares in the last quarter. SR One Capital Management LP bought a new stake in shares of CRISPR Therapeutics during the first quarter valued at approximately $71,496,000. Norges Bank bought a new stake in CRISPR Therapeutics in the 4th quarter valued at $38,661,000. Farallon Capital Management LLC purchased a new stake in shares of CRISPR Therapeutics in the second quarter worth about $28,625,000. Finally, Avoro Capital Advisors LLC bought a new position in shares of CRISPR Therapeutics during the 1st quarter valued at approximately $28,599,000. 69.20% of the stock is currently 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.