CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 0.3% – Here’s Why

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price dropped 0.3% on Thursday . The company traded as low as $41.96 and last traded at $42.11. Approximately 411,593 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 1,895,333 shares. The stock had previously closed at $42.22.

Analyst Ratings Changes

A number of research analysts have recently commented on CRSP shares. Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating and set a $53.00 price target on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. HC Wainwright began coverage on shares of CRISPR Therapeutics in a research note on Monday. They set a “buy” rating and a $65.00 price objective for the company. Barclays cut their price objective on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Finally, Chardan Capital restated a “buy” rating and set a $94.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.59.

CRISPR Therapeutics Stock Performance

The stock has a market cap of $3.58 billion, a PE ratio of -14.82 and a beta of 1.67. The stock’s 50-day moving average is $43.20 and its two-hundred day moving average is $46.82.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) earnings per share 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 during the quarter, compared to analysts’ expectations of $6.65 million. During the same period in the previous year, the firm posted ($1.41) earnings per share. Analysts forecast that CRISPR Therapeutics AG will post -5.1 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 30,000 shares of CRISPR Therapeutics stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.62, for a total value of $1,668,600.00. Following the completion of the transaction, the chief executive officer now directly owns 196,540 shares in the company, valued at approximately $10,931,554.80. This trade represents a 13.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Highline Wealth Partners LLC acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $39,000. Western Pacific Wealth Management LP lifted its position in shares of CRISPR Therapeutics by 100.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after purchasing an additional 500 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of CRISPR Therapeutics during the third quarter worth $40,000. Darwin Wealth Management LLC acquired a new stake in CRISPR Therapeutics in the third quarter valued at $43,000. Finally, Eastern Bank purchased a new stake in CRISPR Therapeutics during the 3rd quarter worth about $70,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

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.