CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 8.7% – What’s Next?

CRISPR Therapeutics AG (NASDAQ:CRSP) shares were down 8.7% during mid-day trading on Monday . The company traded as low as $33.05 and last traded at $33.76. Approximately 679,792 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 1,549,634 shares. The stock had previously closed at $36.99.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group reduced their target price on shares of CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Citigroup lowered their price objective on CRISPR Therapeutics from $89.00 to $82.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Morgan Stanley upped their price target on CRISPR Therapeutics from $30.00 to $32.00 and gave the company an “underweight” rating in a research note on Friday, February 14th. TD Cowen upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a report on Wednesday, February 12th. Finally, Barclays increased their target price on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, CRISPR Therapeutics presently has an average rating of “Hold” and an average target price of $73.11.

CRISPR Therapeutics Trading Down 2.6 %

The company has a market capitalization of $2.84 billion, a PE ratio of -7.58 and a beta of 1.77. The stock has a fifty day simple moving average of $42.80 and a 200-day simple moving average of $44.98.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. As a group, equities research analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 18,360 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total transaction of $1,013,472.00. Following the transaction, the chief executive officer now owns 171,613 shares in the company, valued at $9,473,037.60. This trade represents a 9.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Julianne Bruno sold 1,198 shares of CRISPR Therapeutics stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total value of $50,819.16. Following the transaction, the chief operating officer now directly owns 8,263 shares in the company, valued at approximately $350,516.46. This trade represents a 12.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,381 shares of company stock valued at $1,608,243 in the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in shares of CRISPR Therapeutics by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 12,477 shares of the company’s stock valued at $586,000 after buying an additional 231 shares during the last quarter. Intellectus Partners LLC raised its stake in CRISPR Therapeutics by 3.6% during the 4th quarter. Intellectus Partners LLC now owns 7,131 shares of the company’s stock valued at $281,000 after acquiring an additional 250 shares during the last quarter. Farrow Financial Inc. lifted its position in CRISPR Therapeutics by 1.4% during the 4th quarter. Farrow Financial Inc. now owns 20,097 shares of the company’s stock worth $777,000 after acquiring an additional 270 shares during the period. Sunbelt Securities Inc. grew its stake in shares of CRISPR Therapeutics by 11.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,955 shares of the company’s stock valued at $139,000 after purchasing an additional 300 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of CRISPR Therapeutics by 1.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 20,636 shares of the company’s stock valued at $812,000 after purchasing an additional 310 shares during the period. 69.20% of the stock is owned by hedge funds and other institutional investors.

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.