CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 5.8% Following Insider Selling

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) dropped 5.8% during mid-day trading on Friday following insider selling activity. The stock traded as low as $57.21 and last traded at $57.2870. Approximately 681,870 shares traded hands during trading, a decline of 62% from the average daily volume of 1,807,886 shares. The stock had previously closed at $60.81.

Specifically, CEO Samarth Kulkarni sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $51.75, for a total transaction of $1,552,500.00. Following the completion of the transaction, the chief executive officer owned 194,201 shares in the company, valued at $10,049,901.75. The trade was a 13.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Samarth Kulkarni sold 60,000 shares of CRISPR Therapeutics stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $60.23, for a total transaction of $3,613,800.00. Following the completion of the transaction, the chief executive officer directly owned 134,201 shares in the company, valued at $8,082,926.23. This represents a 30.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Analyst Upgrades and Downgrades

CRSP has been the subject of several analyst reports. Chardan Capital decreased their price objective on CRISPR Therapeutics from $82.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Robert W. Baird lowered their price target on CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Citizens Jmp restated a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, December 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday. Finally, Bank of America dropped their target price on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.15.

CRISPR Therapeutics Trading Down 8.7%

The business has a 50-day moving average price of $54.94 and a 200-day moving average price of $58.41. The stock has a market cap of $5.29 billion, a PE ratio of -9.93 and a beta of 1.70.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.15. The company had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $8.74 million. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. Equities analysts expect that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors have recently bought and sold shares of the company. Optiver Holding B.V. lifted its position in shares of CRISPR Therapeutics by 71.4% in the third quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock valued at $33,000 after acquiring an additional 210 shares in the last quarter. Thompson Investment Management Inc. purchased a new position in CRISPR Therapeutics in the 3rd quarter valued at $33,000. Strategic Advocates LLC acquired a new stake in CRISPR Therapeutics during the 3rd quarter worth $34,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of CRISPR Therapeutics by 196.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company’s stock worth $30,000 after buying an additional 382 shares in the last quarter. Finally, Bogart Wealth LLC raised its position in shares of CRISPR Therapeutics by 333.3% in the third quarter. Bogart Wealth LLC now owns 650 shares of the company’s stock valued at $42,000 after buying an additional 500 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.