CRISPR Therapeutics AG (NASDAQ:CRSP) Sees Large Increase in Short Interest

CRISPR Therapeutics AG (NASDAQ:CRSP) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 18,590,000 shares, a growth of 5.7% from the October 15th total of 17,590,000 shares. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is currently 16.0 days.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,089 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the sale, the general counsel now directly owns 62,597 shares of the company’s stock, valued at approximately $2,896,989.16. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Samarth Kulkarni sold 30,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.62, for a total transaction of $1,668,600.00. Following the sale, the chief executive officer now directly owns 196,540 shares of the company’s stock, valued at $10,931,554.80. This represents a 13.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,382 shares of company stock valued at $1,917,679. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers raised its position in CRISPR Therapeutics by 451.3% in the 1st quarter. Cetera Investment Advisers now owns 34,100 shares of the company’s stock valued at $2,324,000 after buying an additional 27,915 shares during the last quarter. CWM LLC boosted its stake in CRISPR Therapeutics by 11,871.1% in the 2nd quarter. CWM LLC now owns 22,386 shares of the company’s stock valued at $1,209,000 after purchasing an additional 22,199 shares during the period. Capital Advisors Inc. OK lifted its position in shares of CRISPR Therapeutics by 8.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock valued at $14,122,000 after acquiring an additional 22,583 shares during the period. Granite Bay Wealth Management LLC bought a new stake in shares of CRISPR Therapeutics during the 2nd quarter valued at $2,375,000. Finally, International Assets Investment Management LLC bought a new stake in shares of CRISPR Therapeutics during the 3rd quarter valued at $1,825,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

CRISPR Therapeutics Trading Down 0.5 %

Shares of NASDAQ:CRSP traded down $0.25 during trading on Tuesday, hitting $47.05. 833,042 shares of the company’s stock traded hands, compared to its average volume of 1,480,195. CRISPR Therapeutics has a 52 week low of $43.42 and a 52 week high of $91.10. The company has a 50-day moving average price of $47.88 and a 200-day moving average price of $52.02.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. The business had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. During the same quarter last year, the firm earned ($1.41) EPS. Sell-side analysts expect that CRISPR Therapeutics will post -5.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CRSP has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Cantor Fitzgerald reissued a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, August 8th. Barclays reduced their target price on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Chardan Capital reduced their target price on CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given 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 price target of $74.94.

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.