CRISPR Therapeutics (CRSP) Sees Large Volume Increase

CRISPR Therapeutics (NASDAQ:CRSP) shares saw unusually-high trading volume on Friday . Approximately 2,772,366 shares traded hands during trading, an increase of 145% from the previous session’s volume of 1,132,946 shares.The stock last traded at $43.27 and had previously closed at $43.27.

CRSP has been the topic of a number of recent research reports. Cann reiterated a “hold” rating on shares of CRISPR Therapeutics in a report on Sunday, December 10th. JMP Securities initiated coverage on shares of CRISPR Therapeutics in a report on Thursday, March 8th. They set an “outperform” rating and a $69.00 price target on the stock. ValuEngine upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. SunTrust Banks reiterated a “buy” rating and set a $65.00 price target on shares of CRISPR Therapeutics in a report on Friday, March 9th. Finally, TheStreet upgraded shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a report on Friday, March 16th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $63.95.

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In related news, insider Tyler Dylan-Hyde sold 66,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $28.03, for a total value of $1,849,980.00. Following the transaction, the insider now owns 25,204 shares in the company, valued at $706,468.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. 39.98% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC acquired a new position in CRISPR Therapeutics in the fourth quarter valued at $20,160,000. Franklin Resources Inc. lifted its holdings in CRISPR Therapeutics by 8.9% in the fourth quarter. Franklin Resources Inc. now owns 794,533 shares of the company’s stock valued at $18,656,000 after buying an additional 65,200 shares during the period. Global Thematic Partners LLC lifted its holdings in CRISPR Therapeutics by 11.2% in the fourth quarter. Global Thematic Partners LLC now owns 633,452 shares of the company’s stock valued at $14,873,000 after buying an additional 63,611 shares during the period. BlackRock Inc. lifted its holdings in CRISPR Therapeutics by 16,623.9% in the fourth quarter. BlackRock Inc. now owns 552,558 shares of the company’s stock valued at $12,974,000 after buying an additional 549,254 shares during the period. Finally, Opaleye Management Inc. acquired a new position in CRISPR Therapeutics in the fourth quarter valued at $6,597,000. Institutional investors and hedge funds own 26.61% of the company’s stock.

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CRISPR Therapeutics Company Profile

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, which targets sickle cell disease and beta-thalassemia with an ex vivo approach whereby cells are harvested from a patient, treated with a CRISPR/Cas9-based therapeutic and reintroduced into the patient.

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