CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 1.5%

CRISPR Therapeutics AG (NASDAQ:CRSP) shares dropped 1.5% on Tuesday . The stock traded as low as $53.26 and last traded at $54.01. Approximately 213,922 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,778,945 shares. The stock had previously closed at $54.83.

Wall Street Analyst Weigh In

CRSP has been the subject of several research analyst reports. TheStreet upgraded shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a research note on Friday, February 23rd. Mizuho increased their target price on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Chardan Capital upped their price target on CRISPR Therapeutics from $110.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Morgan Stanley raised their price objective on shares of CRISPR Therapeutics from $46.00 to $48.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. Finally, Wells Fargo & Company boosted their price target on CRISPR Therapeutics from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $76.29.

CRISPR Therapeutics Stock Performance

The firm’s 50-day simple moving average is $70.02 and its two-hundred day simple moving average is $64.17. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -27.56 and a beta of 1.76.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly 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 analyst estimates of $148.72 million. During the same period in the prior year, the business earned ($1.41) EPS. The business’s revenue for the quarter was up 3253.3% on a year-over-year basis. Equities research analysts expect that CRISPR Therapeutics AG will post -6.24 earnings per share for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 19,582 shares of CRISPR Therapeutics stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $59.91, for a total value of $1,173,157.62. Following the completion of the sale, the chief executive officer now directly owns 208,122 shares in the company, valued at $12,468,589.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Raju Prasad sold 3,524 shares of CRISPR Therapeutics stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $72.69, for a total transaction of $256,159.56. Following the transaction, the chief financial officer now owns 6,476 shares of the company’s stock, valued at approximately $470,740.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 19,582 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the completion of the transaction, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at approximately $12,468,589.02. The disclosure for this sale can be found here. Insiders sold a total of 83,992 shares of company stock worth $6,132,335 over the last 90 days. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of CRISPR Therapeutics by 12.5% during the 3rd quarter. Signaturefd LLC now owns 2,124 shares of the company’s stock valued at $96,000 after purchasing an additional 236 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of CRISPR Therapeutics by 10.8% in the third quarter. Itau Unibanco Holding S.A. now owns 2,521 shares of the company’s stock valued at $114,000 after buying an additional 245 shares during the period. Spire Wealth Management raised its holdings in shares of CRISPR Therapeutics by 32.7% during the third quarter. Spire Wealth Management now owns 1,052 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares during the period. CWM LLC lifted its position in CRISPR Therapeutics by 80.7% in the 3rd quarter. CWM LLC now owns 582 shares of the company’s stock valued at $26,000 after acquiring an additional 260 shares in the last quarter. Finally, WealthPlan Investment Management LLC boosted its stake in CRISPR Therapeutics by 3.1% in the 4th quarter. WealthPlan Investment Management LLC now owns 9,663 shares of the company’s stock worth $605,000 after purchasing an additional 288 shares during the period. 69.20% of the stock is currently 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.