Crispr Therapeutics (NASDAQ:CRSP) Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Crispr Therapeutics (NASDAQ:CRSP) from a hold rating to a sell rating in a report issued on Friday morning, BidAskClub reports.

CRSP has been the subject of a number of other research reports. Jefferies Financial Group began coverage on shares of Crispr Therapeutics in a research report on Thursday, August 1st. They issued a buy rating and a $64.00 price objective for the company. BTIG Research raised their price objective on shares of Crispr Therapeutics from $51.00 to $59.00 and gave the company a positive rating in a research report on Tuesday, July 30th. William Blair restated a hold rating on shares of Crispr Therapeutics in a research report on Tuesday, July 30th. Zacks Investment Research downgraded shares of Crispr Therapeutics from a hold rating to a sell rating in a research report on Monday, September 30th. Finally, Canaccord Genuity began coverage on shares of Crispr Therapeutics in a research report on Friday, July 26th. They issued a buy rating and a $72.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $57.30.

Shares of NASDAQ CRSP traded up $0.15 during midday trading on Friday, reaching $36.96. 562,477 shares of the company were exchanged, compared to its average volume of 465,797. The company has a current ratio of 13.96, a quick ratio of 13.96 and a debt-to-equity ratio of 0.10. Crispr Therapeutics has a 1 year low of $22.22 and a 1 year high of $53.90. The stock has a fifty day simple moving average of $44.57 and a 200 day simple moving average of $43.25. The stock has a market cap of $2.02 billion, a P/E ratio of -10.74 and a beta of 3.11.

Crispr Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Monday, July 29th. The company reported ($1.01) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.84). The firm had revenue of $0.32 million during the quarter, compared to analyst estimates of $47.57 million. Crispr Therapeutics had a negative net margin of 15,136.56% and a negative return on equity of 51.49%. Crispr Therapeutics’s revenue for the quarter was down 70.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.82) EPS. As a group, analysts forecast that Crispr Therapeutics will post -3.85 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC lifted its position in shares of Crispr Therapeutics by 34.7% during the 2nd quarter. ARK Investment Management LLC now owns 2,724,349 shares of the company’s stock valued at $128,317,000 after acquiring an additional 701,332 shares during the period. Nikko Asset Management Americas Inc. lifted its position in shares of Crispr Therapeutics by 324.3% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 1,871,408 shares of the company’s stock valued at $88,143,000 after acquiring an additional 1,430,364 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Crispr Therapeutics by 19.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 738,869 shares of the company’s stock valued at $34,801,000 after acquiring an additional 121,176 shares during the period. Wells Fargo & Company MN lifted its position in shares of Crispr Therapeutics by 23.9% during the 2nd quarter. Wells Fargo & Company MN now owns 603,905 shares of the company’s stock valued at $28,443,000 after acquiring an additional 116,540 shares during the period. Finally, Morgan Stanley lifted its position in shares of Crispr Therapeutics by 6.1% during the 2nd quarter. Morgan Stanley now owns 284,984 shares of the company’s stock valued at $13,423,000 after acquiring an additional 16,361 shares during the period. Institutional investors own 50.25% of the company’s stock.

About Crispr Therapeutics

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, an ex vivo CRISPR gene-edited therapy for treating patients suffering from dependent beta thalassemia or severe sickle cell disease in which a patient's hematopoietic stem cells are engineered to produce high levels of fetal hemoglobin in red blood cells.

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