CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 4% – Here’s Why

CRISPR Therapeutics AG (NASDAQ:CRSP) was down 4% during mid-day trading on Monday . The company traded as low as $37.62 and last traded at $37.74. Approximately 1,644,505 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 1,625,210 shares. The stock had previously closed at $39.30.

Wall Street Analyst Weigh In

CRSP has been the topic of a number of research analyst reports. Evercore ISI raised shares of CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $60.00 to $99.00 in a research report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics in a report on Wednesday, April 9th. Morgan Stanley upped their target price on CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, February 14th. Truist Financial lifted their price objective on shares of CRISPR Therapeutics from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of CRISPR Therapeutics in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.11.

CRISPR Therapeutics Price Performance

The stock’s 50 day moving average is $41.14 and its two-hundred day moving average is $44.01. The firm has a market cap of $3.33 billion, a P/E ratio of -8.88 and a beta of 1.85.

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 the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. As a group, research analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 9,973 shares of the business’s 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 $423,054.66. Following the completion of the transaction, the chief executive officer now directly owns 180,890 shares in the company, valued at approximately $7,673,353.80. The trade was a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel James R. Kasinger sold 2,850 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $120,897.00. Following the sale, the general counsel now owns 77,530 shares in the company, valued at approximately $3,288,822.60. The trade was a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,381 shares of company stock worth $1,608,243 in the last three months. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its holdings in shares of CRISPR Therapeutics by 46.7% in the 1st quarter. Farther Finance Advisors LLC now owns 5,626 shares of the company’s stock valued at $186,000 after acquiring an additional 1,792 shares in the last quarter. NBC Securities Inc. boosted its position in CRISPR Therapeutics by 156,300.0% during the first quarter. NBC Securities Inc. now owns 1,564 shares of the company’s stock valued at $53,000 after purchasing an additional 1,563 shares during the last quarter. Green Alpha Advisors LLC grew its stake in CRISPR Therapeutics by 132.9% in the first quarter. Green Alpha Advisors LLC now owns 57,361 shares of the company’s stock valued at $1,952,000 after purchasing an additional 32,732 shares in the last quarter. 180 Wealth Advisors LLC increased its position in shares of CRISPR Therapeutics by 22.9% during the 1st quarter. 180 Wealth Advisors LLC now owns 6,349 shares of the company’s stock worth $216,000 after purchasing an additional 1,182 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of CRISPR Therapeutics by 8,146.2% during the 1st quarter. GAMMA Investing LLC now owns 4,288 shares of the company’s stock worth $146,000 after purchasing an additional 4,236 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.