As of April 13, 2023, CRISPR Therapeutics AG (NASDAQ:CRSP) has received a “Hold” rating from 20 analysts covering the firm, according to Bloomberg Ratings. The consensus among analysts is mixed, with two giving a sell rating, five issuing a hold rating, and nine offering a buy rating. Despite this fluctuation in ratings, brokers who have covered the stock in the last year report an average one-year target price of $72.89.
CRISPR Therapeutics is renowned for its industry-leading gene-editing technology CRISPR/Cas9, which enables precise and directed changes to genomic DNA. By leveraging this cutting-edge platform across multiple programs across several disease areas such as hemoglobinopathies, oncology, regenerative medicine and rare diseases, the company is working to develop transformative gene-based therapies.
Notably, several institutional investors have taken an interest in CRISPR Therapeutics in recent months. Exchange Traded Concepts LLC reportedly acquired a stake worth over $1 million during Q1 2023. Bouvel Investment Partners LLC increased its holding by 2.9% and now owns nearly 20 thousand shares valued at over $900 thousand. Green Alpha Advisors LLC also upped its position by almost 6%, adding just under two thousand shares worth around $1.5 million.
This list of influential investors continues with Voya Investment Management LLC upping its holdings by over 1% during Q4 2023 alone while WealthPLAN Partners LLC now owns a new position in CRISPR Therapeutics totaling approximately $403k worth of stock. In total, institutional investors account for more than 71% ownership of the company’s stock.
In conclusion, although analysts are divided on their opinions regarding CRISPR Therapeutics’ potential performance over the next few years as reflected in their ratings coverage of “Hold,” “Sell,” and “Buy,” smart investors have consistently taken notice of the company’s progress and potential for high-impact gene editing therapies. As well as investing millions in equity, leading institutional investors are continuing to add to their CRISPR stakes, a resounding endorsement of this innovative biotech stock.
CRISPR Therapeutics: Innovation and Investment Scrutiny in Gene-Editing Industry
CRISPR Therapeutics is making waves in the biotech industry with its innovative gene-editing technology. The company’s proprietary CRISPR/Cas9 platform allows for precise and directed changes to genomic DNA, paving the way for transformative gene-based medicines to treat serious diseases.
Despite being hailed as a revolutionary advancement in medicine, CRISPR Therapeutics has not been spared from scrutiny by investors and analysts. A number of brokerages have weighed in on the company’s stock, with varying ratings and price objectives.
Morgan Stanley recently lifted their price objective on CRISPR Therapeutics from $37.00 to $39.00, giving the stock an “underweight” rating. Sanford C. Bernstein started coverage on the company and issued a “market perform” rating with a $44.00 price objective.
StockNews.com raised CRISPR Therapeutics to a “sell” rating, while Oppenheimer dropped their price target from $110.00 to $102.00 and gave the company an “outperform” rating. Finally, Robert W. Baird assumed coverage on CRISPR Therapeutics with a “neutral” rating and a $46.00 target price.
In other news, CEO Samarth Kulkarni sold 25,000 shares of CRISPR Therapeutics’ stock at an average price of $48.25 per share, totaling to $1,206,250. Following this transaction, Kulkarni directly owns 375,988 shares in the company valued at $18,141,421.
Insiders have sold a total of 75,000 shares over the past ninety days worth $3,604,5000; currently 5.30% of the company’s stock is owned by corporate insiders.
Shares of CRISPR Therapeutics opened at $43.47 on Thursday with a 52 week low of $38.94 and high of $86.95. The firm has a market capitalization of $3.42 billion, a P/E ratio of -5.19, and a beta of 1.71.
The company recently reported its quarterly earnings results on February 21st with the company reporting ($1.41) earnings per share (EPS) for the quarter. However, CRISPR Therapeutics beat the consensus estimate of ($2.27) by $0.86 and had revenue of $6 million for the quarter compared to the analyst estimates of $7.37 million.
CRISPR Therapeutics has established a portfolio of therapeutic programs across various disease areas including hemoglobinopathies, oncology, regenerative medicine, and rare diseases.
As researchers continue to explore the full potential of gene-editing technology, investors will be watching closely to see if CRISPR Therapeutics can deliver on its promise to revolutionize medicine and transform lives through innovative treatment options for serious illnesses.