CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 5%

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price was down 5% on Thursday . The stock traded as low as $52.75 and last traded at $52.88. Approximately 443,840 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,796,089 shares. The stock had previously closed at $55.65.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays lifted their target price on CRISPR Therapeutics from $61.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of CRISPR Therapeutics in a report on Thursday, April 11th. Wolfe Research initiated coverage on CRISPR Therapeutics in a research note on Thursday, February 15th. They set a “peer perform” rating for the company. Mizuho raised their target price on CRISPR Therapeutics from $82.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Morgan Stanley lifted their price objective on shares of CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, CRISPR Therapeutics presently has an average rating of “Hold” and a consensus price target of $76.29.

CRISPR Therapeutics Trading Down 3.5 %

The company’s 50-day moving average is $71.75 and its 200 day moving average is $63.80. The firm has a market cap of $4.56 billion, a PE ratio of -27.41 and a beta of 1.76.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Wednesday, February 21st. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.15 by $0.95. The business had revenue of $201.20 million during the quarter, compared to analyst estimates of $148.72 million. The business’s quarterly revenue was up 3253.3% on a year-over-year basis. During the same period last year, the business earned ($1.41) EPS. On average, research analysts predict that CRISPR Therapeutics AG will post -6.24 EPS for the current fiscal year.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $80.36, for a total value of $1,607,200.00. Following the transaction, the chief executive officer now owns 187,377 shares in the company, valued at approximately $15,057,615.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Samarth Kulkarni sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the chief executive officer now owns 187,377 shares of the company’s stock, valued at approximately $15,057,615.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel James R. Kasinger sold 1,913 shares of CRISPR Therapeutics stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $79.67, for a total transaction of $152,408.71. Following the completion of the sale, the general counsel now owns 57,371 shares of the company’s stock, valued at $4,570,747.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,992 shares of company stock worth $9,157,835. 4.10% of the stock is owned by company insiders.

Institutional Trading of CRISPR Therapeutics

Large investors have recently made changes to their positions in the stock. ARK Investment Management LLC lifted its position in CRISPR Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after acquiring an additional 1,372,986 shares during the last quarter. Capital International Investors boosted its stake in CRISPR Therapeutics by 0.8% during the 4th quarter. Capital International Investors now owns 6,134,450 shares of the company’s stock valued at $384,017,000 after purchasing an additional 48,938 shares during the period. Vanguard Group Inc. increased its position in CRISPR Therapeutics by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 1,590,651 shares of the company’s stock worth $99,575,000 after buying an additional 51,926 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of CRISPR Therapeutics by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 653,023 shares of the company’s stock worth $40,879,000 after buying an additional 15,085 shares during the last quarter. Finally, Norges Bank bought a new position in shares of CRISPR Therapeutics during the 4th quarter worth about $38,661,000. 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.