Investors Buy High Volume of Crispr Therapeutics Put Options (CRSP)
Crispr Therapeutics AG (NASDAQ:CRSP) was the target of some unusual options trading activity on Thursday. Stock traders acquired 1,168 put options on the company. This represents an increase of 1,986% compared to the average daily volume of 56 put options.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Crispr Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub raised shares of Crispr Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday. SunTrust Banks raised shares of Crispr Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $22.75 price objective (down from $39.00) on shares of Crispr Therapeutics in a report on Wednesday, January 10th. Finally, Oppenheimer reissued a “hold” rating on shares of Crispr Therapeutics in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $22.81.
Crispr Therapeutics (NASDAQ:CRSP) traded up $4.94 during trading on Monday, reaching $44.39. 1,021,197 shares of the company’s stock traded hands, compared to its average volume of 1,071,188. The company has a market capitalization of $1,970.00 and a P/E ratio of -138.72. Crispr Therapeutics has a 1-year low of $11.63 and a 1-year high of $44.65.
In other news, insider Tyler Dylan-Hyde sold 15,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $18.90, for a total transaction of $283,500.00. Following the completion of the transaction, the insider now directly owns 130,204 shares in the company, valued at approximately $2,460,855.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Corp /De/ Celgene sold 1,112,446 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $18.98, for a total transaction of $21,114,225.08. The disclosure for this sale can be found here. Insiders sold a total of 2,234,504 shares of company stock valued at $44,388,553 over the last quarter. 39.98% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in shares of Crispr Therapeutics in the third quarter valued at about $536,000. Hershey Trust Co. purchased a new position in shares of Crispr Therapeutics during the third quarter valued at about $768,000. Tiff Advisory Services Inc. purchased a new position in shares of Crispr Therapeutics during the third quarter valued at about $505,000. Allianz Asset Management GmbH purchased a new position in shares of Crispr Therapeutics during the third quarter valued at about $2,384,000. Finally, Granahan Investment Management Inc. MA increased its position in shares of 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 period. Hedge funds and other institutional investors own 21.89% of the company’s stock.
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.
Receive News & Ratings for Crispr Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crispr Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.