CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 5%

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price was down 5% during mid-day trading on Thursday . The company traded as low as $52.75 and last traded at $52.88. Approximately 443,840 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 1,796,089 shares. The stock had previously closed at $55.65.

Analyst Ratings Changes

CRSP has been the subject of a number of research analyst reports. TheStreet upgraded shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a research report on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of CRISPR Therapeutics in a report on Thursday, April 11th. Royal Bank of Canada lifted their target price on CRISPR Therapeutics from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. Wolfe Research initiated coverage on shares of CRISPR Therapeutics in a report on Thursday, February 15th. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company increased their price target on CRISPR Therapeutics from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.29.

CRISPR Therapeutics Stock Down 3.5 %

The stock has a market capitalization of $4.56 billion, a P/E ratio of -27.41 and a beta of 1.76. The business’s 50 day simple moving average is $71.75 and its two-hundred day simple moving average is $63.80.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Wednesday, February 21st. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.95. The company had revenue of $201.20 million during the quarter, compared to the consensus estimate of $148.72 million. During the same quarter in the prior year, the business earned ($1.41) EPS. The firm’s revenue for the quarter was up 3253.3% compared to the same quarter last year. Analysts predict that CRISPR Therapeutics AG will post -6.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Samarth Kulkarni sold 20,000 shares of CRISPR Therapeutics stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the sale, the chief executive officer now directly owns 187,377 shares in the company, valued at $15,057,615.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Samarth Kulkarni sold 20,000 shares of CRISPR Therapeutics stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the sale, the chief executive officer now directly owns 187,377 shares in the company, valued at approximately $15,057,615.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 1,913 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total transaction of $152,408.71. Following the sale, the general counsel now owns 57,371 shares of the company’s stock, valued at approximately $4,570,747.57. The disclosure for this sale can be found here. Insiders have sold a total of 133,992 shares of company stock valued at $9,157,835 in the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRSP. Cambridge Investment Research Advisors Inc. raised its position in shares of CRISPR Therapeutics by 17.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 56,337 shares of the company’s stock valued at $3,840,000 after purchasing an additional 8,408 shares during the period. Spire Wealth Management boosted its holdings in shares of CRISPR Therapeutics by 597.6% in the first quarter. Spire Wealth Management now owns 3,167 shares of the company’s stock worth $216,000 after acquiring an additional 2,713 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of CRISPR Therapeutics by 16.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 46,040 shares of the company’s stock valued at $3,138,000 after purchasing an additional 6,623 shares in the last quarter. PFG Investments LLC bought a new stake in shares of CRISPR Therapeutics during the 1st quarter valued at $739,000. Finally, Westside Investment Management Inc. lifted its holdings in CRISPR Therapeutics by 4.7% during the 1st quarter. Westside Investment Management Inc. now owns 7,393 shares of the company’s stock worth $504,000 after purchasing an additional 332 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.