CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 3.1%

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price was down 3.1% during mid-day trading on Wednesday . The stock traded as low as $53.25 and last traded at $53.81. Approximately 398,715 shares changed hands during trading, a decline of 77% from the average daily volume of 1,747,559 shares. The stock had previously closed at $55.53.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CRSP. Barclays increased their price objective on shares of CRISPR Therapeutics from $61.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of CRISPR Therapeutics in a research report on Thursday, April 11th. TheStreet raised CRISPR Therapeutics from a “d+” rating to a “c” rating in a report on Friday, February 23rd. Citigroup lifted their price target on CRISPR Therapeutics from $88.00 to $89.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company upped their price objective on CRISPR Therapeutics from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $76.29.

CRISPR Therapeutics Stock Down 4.0 %

The firm’s fifty day moving average price is $66.49 and its 200-day moving average price is $64.72. The stock has a market cap of $4.52 billion, a P/E ratio of -27.45 and a beta of 1.80.

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

Insider Buying and Selling

In other news, General Counsel James R. Kasinger sold 1,913 shares of CRISPR Therapeutics stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $79.67, for a total transaction of $152,408.71. Following the sale, the general counsel now owns 57,371 shares of the company’s stock, valued at approximately $4,570,747.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the completion of the transaction, the chief executive officer now owns 187,377 shares of the company’s stock, valued at $15,057,615.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel James R. Kasinger sold 1,913 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was 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 directly owns 57,371 shares in the company, valued at $4,570,747.57. The disclosure for this sale can be found here. Insiders sold 83,992 shares of company stock valued at $6,132,335 over the last quarter. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds have recently bought and sold shares of the business. Jump Financial LLC raised its position in shares of CRISPR Therapeutics by 194.7% in the 3rd quarter. Jump Financial LLC now owns 33,307 shares of the company’s stock worth $1,512,000 after purchasing an additional 22,006 shares during the last quarter. Invesco Ltd. raised its holdings in CRISPR Therapeutics by 1.5% in the third quarter. Invesco Ltd. now owns 136,123 shares of the company’s stock worth $6,179,000 after buying an additional 2,061 shares during the last quarter. ARK Investment Management LLC lifted its stake in shares of CRISPR Therapeutics by 19.2% in the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after buying an additional 1,372,986 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of CRISPR Therapeutics during the fourth quarter valued at approximately $206,000. Finally, Baker Chad R increased its position in shares of CRISPR Therapeutics by 89.1% during the fourth quarter. Baker Chad R now owns 98,520 shares of the company’s stock valued at $6,167,000 after acquiring an additional 46,420 shares in the last quarter. 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.