CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 2.7% – Time to Sell?

CRISPR Therapeutics AG (NASDAQ:CRSP) shares dropped 2.7% during mid-day trading on Monday . The company traded as low as $41.14 and last traded at $42.23. 609,124 shares were traded during trading, a decline of 70% from the average daily volume of 1,997,774 shares. The stock had previously closed at $43.42.

Analysts Set New Price Targets

Several analysts recently commented on CRSP shares. Barclays reduced their price target on shares of 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. Bank of America decreased their target price on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $53.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, CRISPR Therapeutics has an average rating of “Hold” and a consensus target price of $78.38.

CRISPR Therapeutics Trading Down 1.4 %

The firm has a market cap of $3.52 billion, a PE ratio of -14.56 and a beta of 1.68. The company has a 50 day moving average price of $44.09 and a 200 day moving average price of $47.46.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The firm had revenue of $0.60 million for the quarter, compared to analysts’ expectations of $6.65 million. During the same period in the prior year, the company earned ($1.41) EPS. As a group, equities research analysts anticipate that CRISPR Therapeutics AG will post -5.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Samarth Kulkarni sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $55.10, for a total transaction of $826,500.00. Following the transaction, the chief executive officer now owns 181,540 shares of the company’s stock, valued at approximately $10,002,854. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Baker BROS. Advisors LP boosted its position in shares of CRISPR Therapeutics by 743.1% in the third quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company’s stock worth $39,608,000 after acquiring an additional 743,075 shares during the last quarter. State Street Corp raised its stake 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 purchasing an additional 599,304 shares during the period. Van ECK Associates Corp boosted its holdings in shares of CRISPR Therapeutics by 5,269.3% in the 4th quarter. Van ECK Associates Corp now owns 83,010 shares of the company’s stock valued at $3,267,000 after purchasing an additional 81,464 shares during the last quarter. KBC Group NV grew its stake in shares of CRISPR Therapeutics by 2,047.4% during the 4th quarter. KBC Group NV now owns 60,514 shares of the company’s stock valued at $2,382,000 after buying an additional 57,696 shares during the period. Finally, Granite Bay Wealth Management LLC acquired a new stake in shares of CRISPR Therapeutics during the 2nd quarter worth $2,375,000. Hedge funds and other 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.