CRISPR Therapeutics (NASDAQ:CRSP) Hits New 12-Month Low – What’s Next?

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $40.61 and last traded at $41.06, with a volume of 2372453 shares trading hands. The stock had previously closed at $44.63.

Wall Street Analyst Weigh In

CRSP has been the subject of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $86.00 target price on shares of CRISPR Therapeutics in a report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $53.00 target price on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Barclays reduced their price objective on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $94.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $77.93.

CRISPR Therapeutics Stock Performance

The company’s fifty day moving average is $48.45 and its two-hundred day moving average is $50.78. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -14.39 and a beta of 1.62.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.41. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The firm had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $6.65 million. During the same quarter last year, the company posted ($1.41) earnings per share. On average, sell-side analysts anticipate that CRISPR Therapeutics AG will post -5.13 EPS for the current fiscal year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $198,680.04. Following the completion of the transaction, the chief executive officer now directly owns 226,540 shares in the company, valued at $10,484,271.20. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $50,398.92. Following the sale, the general counsel now owns 62,597 shares in the company, valued at approximately $2,896,989.16. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,382 shares of company stock valued at $2,744,179 in the last quarter. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CRSP. Raymond James & Associates boosted its holdings in CRISPR Therapeutics by 10.0% in the 2nd quarter. Raymond James & Associates now owns 38,433 shares of the company’s stock worth $2,076,000 after buying an additional 3,479 shares during the last quarter. Baillie Gifford & Co. raised its stake in CRISPR Therapeutics by 2.4% in the 2nd quarter. Baillie Gifford & Co. now owns 405,425 shares of the company’s stock valued at $21,897,000 after purchasing an additional 9,510 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in CRISPR Therapeutics by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 78,692 shares of the company’s stock valued at $4,250,000 after purchasing an additional 3,378 shares in the last quarter. Whittier Trust Co. boosted its stake in CRISPR Therapeutics by 118.7% during the 2nd quarter. Whittier Trust Co. now owns 1,474 shares of the company’s stock worth $80,000 after purchasing an additional 800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of CRISPR Therapeutics by 9.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,474 shares of the company’s stock worth $1,160,000 after buying an additional 1,884 shares in the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

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.