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

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price dropped 4% during trading on Tuesday . The stock traded as low as $47.65 and last traded at $48.57. Approximately 179,809 shares were traded 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 subject of a number of research analyst reports. Truist Financial lowered their price target on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, August 12th. Chardan Capital dropped their price target on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a report on Tuesday, October 29th. Needham & Company LLC dropped their target price on shares of CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Stifel Nicolaus lowered their price target on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.19.

CRISPR Therapeutics Stock Performance

The stock’s 50-day simple moving average is $47.18 and its 200 day simple moving average is $52.28. The company has a market capitalization of $4.21 billion, a PE ratio of -15.21 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Monday, August 5th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The company had revenue of $0.52 million during the quarter, compared to analysts’ expectations of $12.31 million. During the same quarter in the previous year, the business earned ($0.98) earnings per share. CRISPR Therapeutics’s revenue was down 99.3% compared to the same quarter last year. On average, analysts expect that CRISPR Therapeutics AG will post -5.57 earnings per share for the current year.

Insider Activity

In other news, CEO Samarth Kulkarni sold 4,293 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $198,680.04. Following the transaction, the chief executive officer now directly owns 226,540 shares in the company, valued at approximately $10,484,271.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the sale, the general counsel now directly owns 62,597 shares of the company’s stock, valued at $2,896,989.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 226,540 shares in the company, valued at $10,484,271.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

A number of institutional investors have recently bought and sold shares of CRSP. Capital International Investors lifted its position in CRISPR Therapeutics by 27.8% during the first quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock worth $534,175,000 after buying an additional 1,702,624 shares during the period. SR One Capital Management LP purchased a new stake in CRISPR Therapeutics in the first quarter valued at approximately $71,496,000. Farallon Capital Management LLC purchased a new position in CRISPR Therapeutics during the second quarter worth approximately $28,625,000. Avoro Capital Advisors LLC purchased a new stake in shares of CRISPR Therapeutics during the 1st quarter valued at $28,599,000. Finally, Marshall Wace LLP acquired a new stake in shares of CRISPR Therapeutics during the 2nd quarter worth $10,078,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Company Profile

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.