CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 2% – Here’s Why

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) were down 2% on Monday . The company traded as low as $39.21 and last traded at $40.76. Approximately 986,062 shares were traded during trading, a decline of 49% from the average daily volume of 1,921,468 shares. The stock had previously closed at $41.59.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, January 14th. Bank of America reduced their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $53.00 target price on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a research note on Monday, December 30th. Finally, Chardan Capital restated a “buy” rating and issued a $94.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.59.

CRISPR Therapeutics Stock Up 4.3 %

The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -14.92 and a beta of 1.67. The stock’s fifty day moving average is $43.37 and its 200-day moving average is $46.85.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.41. The company had revenue of $0.60 million during the quarter, compared to analyst estimates of $6.65 million. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. During the same quarter in the previous year, the business earned ($1.41) EPS. As a group, equities research analysts predict that CRISPR Therapeutics AG will post -5.1 earnings per share for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.62, for a total value of $1,668,600.00. Following the completion of the transaction, the chief executive officer now owns 196,540 shares in the company, valued at $10,931,554.80. This represents a 13.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC increased its holdings in CRISPR Therapeutics by 19.7% during the 4th quarter. ARK Investment Management LLC now owns 8,973,064 shares of the company’s stock worth $353,180,000 after purchasing an additional 1,474,439 shares in the last quarter. State Street Corp grew its holdings in shares of CRISPR Therapeutics by 25.0% during the third quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after buying an additional 599,304 shares in the last quarter. FMR LLC raised its position in CRISPR Therapeutics by 1.0% in the 3rd quarter. FMR LLC now owns 2,376,166 shares of the company’s stock valued at $111,632,000 after buying an additional 23,075 shares during the last quarter. Geode Capital Management LLC lifted its stake in CRISPR Therapeutics by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company’s stock valued at $47,383,000 after acquiring an additional 35,196 shares in the last quarter. Finally, Baker BROS. Advisors LP boosted its position in CRISPR Therapeutics by 743.1% during the 3rd quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company’s stock worth $39,608,000 after acquiring an additional 743,075 shares during the last quarter. 69.20% of the stock is owned by institutional investors.

About CRISPR Therapeutics

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.