CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 4.1% – Here’s Why

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price was down 4.1% during trading on Thursday . The company traded as low as $49.22 and last traded at $50.86. Approximately 1,325,701 shares traded hands during trading, a decline of 44% from the average daily volume of 2,376,089 shares. The stock had previously closed at $53.02.

Analyst Ratings Changes

Several research firms have weighed in on CRSP. Truist Financial raised their price objective on shares of CRISPR Therapeutics from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. TD Cowen upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price objective for the company in a research report on Wednesday, February 12th. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research report on Thursday, February 13th. Chardan Capital dropped their target price on CRISPR Therapeutics from $94.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Bank of America cut their price target on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, CRISPR Therapeutics currently has an average rating of “Hold” and an average price target of $74.40.

CRISPR Therapeutics Stock Down 4.6 %

The stock’s fifty day moving average price is $42.06 and its 200-day moving average price is $46.04. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of -11.60 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Analysts anticipate that CRISPR Therapeutics AG will post -5.03 EPS for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 181,540 shares of the company’s stock, valued at $10,002,854. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Family Office LLC lifted its stake in CRISPR Therapeutics by 2.2% in the third quarter. Boston Family Office LLC now owns 9,763 shares of the company’s stock valued at $459,000 after acquiring an additional 213 shares during the last quarter. Bedell Frazier Investment Counselling LLC raised its holdings in shares of CRISPR Therapeutics by 0.8% in the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 26,357 shares of the company’s stock valued at $1,238,000 after purchasing an additional 218 shares during the period. The Manufacturers Life Insurance Company lifted its stake in CRISPR Therapeutics by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 12,477 shares of the company’s stock valued at $586,000 after purchasing an additional 231 shares during the last quarter. Intellectus Partners LLC increased its position in CRISPR Therapeutics by 3.6% during the fourth quarter. Intellectus Partners LLC now owns 7,131 shares of the company’s stock worth $281,000 after buying an additional 250 shares during the last quarter. Finally, Farrow Financial Inc. raised its stake in CRISPR Therapeutics by 1.4% in the fourth quarter. Farrow Financial Inc. now owns 20,097 shares of the company’s stock valued at $777,000 after buying an additional 270 shares during the period. 69.20% of the stock is owned by institutional investors.

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.