CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 5%

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wolfe Research assumed coverage on CRISPR Therapeutics in a report on Thursday, February 15th. They issued a “peer perform” rating for the company. Wells Fargo & Company increased their price target on CRISPR Therapeutics from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Royal Bank of Canada increased their price target on CRISPR Therapeutics from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. Citigroup increased their target price on CRISPR Therapeutics from $88.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of CRISPR Therapeutics in a report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.29.

CRISPR Therapeutics Trading Up 0.3 %

The business has a 50-day moving average price of $70.57 and a two-hundred day moving average price of $63.81.

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

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 50,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $60.51, for a total value of $3,025,500.00. Following the sale, the chief executive officer now owns 187,377 shares of the company’s stock, valued at approximately $11,338,182.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Samarth Kulkarni sold 50,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $60.51, for a total value of $3,025,500.00. Following the sale, the chief executive officer now owns 187,377 shares of the company’s stock, valued at approximately $11,338,182.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Raju Prasad sold 3,524 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $72.69, for a total value of $256,159.56. Following the completion of the sale, the chief financial officer now directly owns 6,476 shares in the company, valued at approximately $470,740.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,992 shares of company stock valued at $9,157,835. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds have recently modified their holdings of the stock. ARK Investment Management LLC grew its holdings in shares of CRISPR Therapeutics by 19.2% in the 4th quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after acquiring an additional 1,372,986 shares during the last quarter. Capital International Investors grew its holdings in shares of CRISPR Therapeutics by 0.8% in the 4th quarter. Capital International Investors now owns 6,134,450 shares of the company’s stock worth $384,017,000 after acquiring an additional 48,938 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of CRISPR Therapeutics by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 1,590,651 shares of the company’s stock worth $99,575,000 after acquiring an additional 51,926 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CRISPR Therapeutics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 653,023 shares of the company’s stock worth $40,879,000 after acquiring an additional 15,085 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of CRISPR Therapeutics in the 4th quarter worth $38,661,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.