CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 0.6%

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price was down 0.6% during trading on Wednesday . The stock traded as low as $55.23 and last traded at $55.64. Approximately 176,982 shares changed hands during trading, a decline of 89% from the average daily volume of 1,649,650 shares. The stock had previously closed at $55.95.

Wall Street Analyst Weigh In

Several analysts recently commented on CRSP shares. Robert W. Baird raised their price objective on CRISPR Therapeutics from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Barclays reduced their price target on CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Mizuho upped their price target on CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Piper Sandler reiterated an “overweight” rating and set a $105.00 price objective on shares of CRISPR Therapeutics in a research note on Monday, June 17th. Finally, Wells Fargo & Company dropped their price objective on CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $75.71.

CRISPR Therapeutics Price Performance

The company has a fifty day moving average price of $56.74 and a 200-day moving average price of $64.63.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The company had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. During the same period in the prior year, the company posted ($0.67) EPS. The company’s quarterly revenue was down 99.5% compared to the same quarter last year. On average, research analysts anticipate that CRISPR Therapeutics AG will post -5.51 EPS for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, COO Julianne Bruno sold 3,366 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the transaction, the chief operating officer now owns 6,745 shares in the company, valued at $378,327.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 19,582 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $59.91, for a total value of $1,173,157.62. Following the completion of the sale, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at $12,468,589.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Julianne Bruno sold 3,366 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $56.09, for a total transaction of $188,798.94. Following the completion of the sale, the chief operating officer now directly owns 6,745 shares in the company, valued at approximately $378,327.05. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Several large investors have recently added to or reduced their stakes in CRSP. Congress Asset Management Co. MA grew its position in shares of CRISPR Therapeutics by 60.3% during the first quarter. Congress Asset Management Co. MA now owns 64,605 shares of the company’s stock worth $4,403,000 after purchasing an additional 24,303 shares in the last quarter. PBCay One RSC Ltd purchased a new position in CRISPR Therapeutics during the fourth quarter worth approximately $10,329,000. Invesco Ltd. boosted its position in shares of CRISPR Therapeutics by 1.5% during 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 period. ARK Investment Management LLC lifted its holdings 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 buying an additional 1,372,986 shares during the last quarter. Finally, Norges Bank acquired a new position in CRISPR Therapeutics in the 4th quarter valued at about $38,661,000. 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.