CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 2% – Here’s Why

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price fell 2% on Monday . The stock traded as low as $39.21 and last traded at $40.76. 986,062 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 1,921,468 shares. The stock had previously closed at $41.59.

Analysts Set New Price Targets

Several research firms have issued reports on CRSP. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $53.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. HC Wainwright initiated coverage on shares of CRISPR Therapeutics in a research note on Monday. They issued a “buy” rating and a $65.00 target price for the company. Bank of America lowered their price target on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Barclays cut their price objective 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. Finally, StockNews.com raised CRISPR Therapeutics to a “sell” rating in a report on Monday, December 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $77.59.

CRISPR Therapeutics Stock Performance

The company has a fifty day simple moving average of $43.37 and a two-hundred day simple moving average of $46.85. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -14.92 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. The business had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. During the same quarter in the previous year, the firm earned ($1.41) earnings per share. As a group, equities analysts anticipate that CRISPR Therapeutics AG will post -5.1 earnings per share for the current year.

Insider Activity

In other news, CEO Samarth Kulkarni sold 15,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $55.10, for a total transaction of $826,500.00. Following the completion of the transaction, the chief executive officer now owns 181,540 shares of the company’s stock, valued at approximately $10,002,854. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Several large investors have recently bought and sold shares of the business. Highline Wealth Partners LLC bought a new position in shares of CRISPR Therapeutics in the fourth quarter worth about $39,000. Western Pacific Wealth Management LP lifted its stake in shares of 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 acquiring an additional 500 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of CRISPR Therapeutics during the 3rd quarter valued at $40,000. Darwin Wealth Management LLC bought a new stake in CRISPR Therapeutics during the 3rd quarter worth $43,000. Finally, Eastern Bank acquired a new position in CRISPR Therapeutics in the 3rd quarter worth about $70,000. 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.