CRISPR Therapeutics Receives Downgrade to Sell Status

CRISPR Therapeutics (NASDAQ:CRSP) has recently been downgraded to a "sell" rating by analysts at StockNews.com in a research report published on Thursday.

Analyst Opinions on CRISPR Therapeutics

The evaluation of CRISPR Therapeutics has attracted attention from various research analysts. Stifel Nicolaus revised their target price for the company's shares from $53.00 to $49.00, maintaining a "hold" rating. Meanwhile, HC Wainwright kept a "buy" rating with a target price set at $65.00. JMP Securities reiterated a "market outperform" rating while targeting a price of $86.00. Additionally, Truist Financial increased their price target from $100.00 to $120.00, also giving the stock a "buy" rating. TD Cowen, on the other hand, upgraded the stock from "sell" to "hold" with a target price of $35.00. At this time, two analysts have issued a sell rating, ten have assigned a hold rating, and eleven have rated the stock as a buy. Current data from MarketBeat indicates that CRISPR Therapeutics holds an average rating of "Hold" with an average target price of $74.05.

Current Stock Performance

On the trading floor, shares of CRISPR Therapeutics increased by $0.19 on Thursday, reaching a price of $43.49. The trading volume was reported at 2,047,808 shares, surpassing the average volume of 2,022,014. The stock's performance shows a 52-week low of $36.52 and a high of $91.10. Currently, the market capitalization stands at $3.71 billion, with a PE ratio of -15.37 and a beta of 1.67. The company's 50-day and 200-day moving averages are $42.06 and $46.25, respectively.

Financial Results

CRISPR Therapeutics recently announced its earnings results, reporting a loss of ($0.44) earnings per share, which was better than analysts' expectations of ($1.15) by $0.71. The company is currently operating with a negative net margin of 118.13% and a negative return on equity of 12.15%. Analysts predict that CRISPR Therapeutics will report an EPS of -$5.08 for the current fiscal year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 15,000 shares of the company on December 2nd for an average price of $55.10, amounting to a total of $826,500. Following this sale, Kulkarni retains ownership of 181,540 shares valued at approximately $10 million. This sale reflected a decrease of 7.63% from his initial holdings. Insider ownership currently comprises around 4.10% of the stock.

Institutional Investor Movements

Recent activity among institutional stakeholders has also been noted. Boston Family Office LLC elevated its holdings in CRISPR Therapeutics by 2.2% during Q3, now possessing 9,763 shares valued at $459,000. Bedell Frazier Investment Counselling LLC increased their ownership by 0.8%, reaching 26,357 shares valued at $1.238 million. Other institutions like The Manufacturers Life Insurance Company and Intellectus Partners LLC have also adjusted their holdings. Currently, institutional investors and hedge funds collectively own 69.20% of the stock.

About CRISPR Therapeutics

CRISPR Therapeutics specializes in gene-editing, aiming to develop innovative gene-based therapies for severe diseases employing its proprietary CRISPR/Cas9 technology. This groundbreaking technique allows precise alterations to genomic DNA, with the company working on treatments across diverse areas such as hemoglobinopathies, oncology, regenerative medicine, and rare diseases.

CRISPR, Sell, Rating