CRISPR Therapeutics (NASDAQ:CRSP) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $52.94 and traded as high as $54.17. CRISPR Therapeutics shares last traded at $54.11, with a volume of 1,130,905 shares trading hands.

Wall Street Analyst Weigh In

CRSP has been the topic of several research analyst reports. UBS Group initiated coverage on shares of CRISPR Therapeutics in a research report on Thursday, October 15th. They set a “neutral” rating and a $52.00 price objective on the stock. Citizens Jmp restated a “market outperform” rating and issued a $80.00 target price on shares of CRISPR Therapeutics in a report on Monday, August 31st. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Thursday, October 15th. William Blair raised CRISPR Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 23rd. Finally, HC Wainwright reiterated a “buy” rating on shares of CRISPR Therapeutics in a report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, CRISPR Therapeutics has an average rating of “Moderate Buy” and an average price target of $65.75.

CRISPR Therapeutics Stock Down 5.2%

The business’s 50-day moving average price is $54.19 and its 200-day moving average price is $52.92. The company has a quick ratio of 17.85, a current ratio of 17.85 and a debt-to-equity ratio of 0.34.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($0.94) EPS for the quarter. The company had revenue of $10.18 million for the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. Sell-side analysts predict that CRISPR Therapeutics AG will post -4.44 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other news, General Counsel James R. Kasinger sold 1,040 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $49.26, for a total transaction of $51,230.40. Following the transaction, the general counsel directly owned 95,857 shares in the company, valued at $4,721,915.82. The trade was a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Samarth Kulkarni sold 47,837 shares of the company’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $49.78, for a total transaction of $2,381,325.86. Following the completion of the transaction, the chief executive officer directly owned 311,899 shares in the company, valued at $15,526,332.22. This trade represents a 13.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 93,558 shares of company stock worth $4,881,663. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Large investors have recently made changes to their positions in the company. Compass Financial Management LLC acquired a new position in CRISPR Therapeutics during the third quarter valued at approximately $25,000. American Assets Investment Management LLC bought a new position in shares of CRISPR Therapeutics in the third quarter valued at approximately $1,106,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CRISPR Therapeutics in the third quarter worth $273,000. SFE Investment Counsel lifted its stake in shares of CRISPR Therapeutics by 5,892.2% in the third quarter. SFE Investment Counsel now owns 19,404 shares of the company’s stock worth $1,073,000 after buying an additional 19,739 shares during the last quarter. Finally, Profund Advisors LLC lifted its stake in shares of CRISPR Therapeutics by 42.9% in the third quarter. Profund Advisors LLC now owns 41,562 shares of the company’s stock worth $2,299,000 after buying an additional 12,479 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

About CRISPR Therapeutics

CRISPR Therapeutics AG (NASDAQ: CRSP) is a biotechnology company focused on developing transformative gene-based medicines using CRISPR/Cas9 gene-editing technology. The company’s research programs are designed to address genetic diseases by precisely modifying DNA in cells, with applications across hematology, immunology, oncology, regenerative medicine and cardiovascular disease.

Its lead commercial product is CASGEVY, an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals.