Crispr Therapeutics AG (NASDAQ:CRSP) was up 12.1% during trading on Monday . The stock traded as high as $28.50 and last traded at $26.81. Approximately 3,994,900 shares changed hands during trading, an increase of 129% from the average daily volume of 1,747,875 shares. The stock had previously closed at $23.91.
Several research analysts have recently issued reports on CRSP shares. Cann reiterated a “hold” rating on shares of Crispr Therapeutics in a research note on Thursday, November 9th. SunTrust Banks reiterated a “hold” rating and issued a $16.00 target price on shares of Crispr Therapeutics in a research note on Friday, November 10th. BidaskClub downgraded shares of Crispr Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Oppenheimer started coverage on shares of Crispr Therapeutics in a research note on Thursday, December 7th. They issued a “hold” rating on the stock. Finally, Piper Jaffray Companies started coverage on shares of Crispr Therapeutics in a research note on Friday, December 22nd. They issued an “overweight” rating on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Crispr Therapeutics has a consensus rating of “Buy” and an average target price of $22.38.
The company has a market cap of $1,010.00 and a P/E ratio of -83.78.
In related news, major shareholder Corp /De/ Celgene sold 22,759 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $19.10, for a total transaction of $434,696.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas Woiwode sold 1,700 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $20.21, for a total transaction of $34,357.00. Following the transaction, the director now owns 8,218 shares in the company, valued at approximately $166,085.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,076,167 shares of company stock worth $40,049,167. 39.98% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Allianz Asset Management GmbH purchased a new stake in Crispr Therapeutics during the third quarter valued at approximately $2,384,000. Granahan Investment Management Inc. MA increased its holdings in Crispr Therapeutics by 51.7% during the third quarter. Granahan Investment Management Inc. MA now owns 263,746 shares of the company’s stock valued at $4,713,000 after buying an additional 89,839 shares during the last quarter. Adams Street Partners LLC purchased a new stake in Crispr Therapeutics during the third quarter valued at approximately $1,019,000. Hershey Trust Co. purchased a new stake in Crispr Therapeutics during the third quarter valued at approximately $768,000. Finally, JPMorgan Chase & Co. purchased a new stake in Crispr Therapeutics during the third quarter valued at approximately $536,000. Institutional investors own 24.52% of the company’s stock.
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About Crispr Therapeutics
Crispr Therapeutics AG is a Switzerland-based gene-editing company. The Company focuses on the development of transformative gene-based medicines for serious diseases using its Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)/Cas9 gene-editing platform. CRISPR/Cas9 can be programmed to cut, edit and correct disease-associated deoxyribonucleic acid (DNA) in a patient’s cell.
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