CRISPR Therapeutics (NASDAQ:CRSP) Hits New 52-Week Low – Here’s What Happened

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $32.96 and last traded at $34.03, with a volume of 3968336 shares trading hands. The stock had previously closed at $36.99.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Cowen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 target price for the company in a research note on Wednesday, February 12th. Citigroup decreased their price objective on shares of CRISPR Therapeutics from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Morgan Stanley raised their target price on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, February 14th. Barclays upped their price target on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.11.

CRISPR Therapeutics Trading Up 3.2 %

The firm’s 50-day moving average price is $42.60 and its 200 day moving average price is $44.90. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -7.82 and a beta of 1.85.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) 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, equities research analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CRISPR Therapeutics news, COO Julianne Bruno sold 1,198 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $50,819.16. Following the completion of the transaction, the chief operating officer now owns 8,263 shares of the company’s stock, valued at approximately $350,516.46. The trade was a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel James R. Kasinger sold 2,850 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $120,897.00. Following the completion of 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 sold a total of 32,381 shares of company stock worth $1,608,243 in the last ninety days. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Wood Tarver Financial Group LLC bought a new stake in CRISPR Therapeutics during the 4th quarter worth $30,000. Wilmington Savings Fund Society FSB bought a new stake in shares of CRISPR Therapeutics during the third quarter worth about $40,000. Ameriflex Group Inc. acquired a new position in shares of CRISPR Therapeutics in the fourth quarter valued at approximately $36,000. Highline Wealth Partners LLC bought a new position in CRISPR Therapeutics in the 4th quarter valued at approximately $39,000. Finally, Western Pacific Wealth Management LP raised its holdings in CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after buying an additional 500 shares during the last quarter. 69.20% of the stock is currently 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.