CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 4% – Here’s Why

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) were down 4% on Tuesday . The stock traded as low as $47.65 and last traded at $48.57. Approximately 179,809 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,442,651 shares. The stock had previously closed at $50.59.

Analyst Ratings Changes

CRSP has been the topic of several recent research reports. Chardan Capital dropped their target price on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada cut their price objective on shares of CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a report on Tuesday, October 29th. Truist Financial cut their price target on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Stifel Nicolaus decreased their price objective on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $75.19.

CRISPR Therapeutics Stock Performance

The firm has a market cap of $4.21 billion, a PE ratio of -15.21 and a beta of 1.67. The company has a 50 day simple moving average of $47.18 and a two-hundred day simple moving average of $52.28.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Monday, August 5th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The firm had revenue of $0.52 million during the quarter, compared to analyst estimates of $12.31 million. During the same period in the previous year, the business posted ($0.98) earnings per share. The firm’s revenue for the quarter was down 99.3% on a year-over-year basis. As a group, research analysts predict that CRISPR Therapeutics AG will post -5.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 4,293 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $198,680.04. Following the transaction, the chief executive officer now owns 226,540 shares in the company, valued at approximately $10,484,271.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $198,680.04. Following the completion of the sale, the chief executive officer now owns 226,540 shares of the company’s stock, valued at $10,484,271.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the transaction, the general counsel now directly owns 62,597 shares in the company, valued at $2,896,989.16. This represents a 0.00 % decrease in their ownership of the stock. 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 hedge funds and other institutional investors have recently made changes to their positions in CRSP. Riggs Asset Managment Co. Inc. increased its stake in shares of CRISPR Therapeutics by 66.7% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Global Trust Asset Management LLC raised its stake in CRISPR Therapeutics by 150.0% during the second quarter. Global Trust Asset Management LLC now owns 500 shares of the company’s stock worth $27,000 after purchasing an additional 300 shares during the period. Larson Financial Group LLC boosted its holdings in CRISPR Therapeutics by 95.5% in the 2nd quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock valued at $31,000 after purchasing an additional 276 shares during the last quarter. GPS Wealth Strategies Group LLC grew its stake in shares of CRISPR Therapeutics by 99.7% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company’s stock valued at $33,000 after buying an additional 307 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of CRISPR Therapeutics during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds 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.