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

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price reached a new 52-week low on Monday . The stock traded as low as $30.04 and last traded at $30.33, with a volume of 327556 shares changing hands. The stock had previously closed at $32.65.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. TD Cowen raised shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a research note on Wednesday, February 12th. Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday, February 12th. Bank of America cut their target price 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. Truist Financial raised their target price on shares of CRISPR Therapeutics from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Citigroup cut their price target 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.11.

CRISPR Therapeutics Price Performance

The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -7.25 and a beta of 1.85. The business has a fifty day moving average of $42.15 and a 200 day moving average of $44.64.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, analysts expect that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 18,360 shares of CRISPR Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total value of $1,013,472.00. Following the transaction, the chief executive officer now owns 171,613 shares of the company’s stock, valued at $9,473,037.60. This trade represents a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel James R. Kasinger sold 2,850 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $120,897.00. Following the sale, the general counsel now directly owns 77,530 shares of the company’s stock, valued at approximately $3,288,822.60. This represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,381 shares of company stock worth $1,608,243. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. ARK Investment Management LLC increased its position in CRISPR Therapeutics by 19.7% during the fourth quarter. ARK Investment Management LLC now owns 8,973,064 shares of the company’s stock worth $353,180,000 after acquiring an additional 1,474,439 shares during the period. Capital International Investors increased its holdings in shares of CRISPR Therapeutics by 10.3% during the 4th quarter. Capital International Investors now owns 8,743,523 shares of the company’s stock worth $344,145,000 after purchasing an additional 816,789 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of CRISPR Therapeutics by 39.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company’s stock valued at $150,029,000 after buying an additional 1,074,238 shares during the last quarter. State Street Corp grew its position in CRISPR Therapeutics by 25.0% during the third quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after buying an additional 599,304 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in CRISPR Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,735,998 shares of the company’s stock valued at $68,329,000 after acquiring an additional 10,579 shares during the period. 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.