CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 1.7% – What’s Next?

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) fell 1.7% on Tuesday . The company traded as low as $40.52 and last traded at $41.55. 799,523 shares were traded during mid-day trading, a decline of 65% from the average session volume of 2,291,081 shares. The stock had previously closed at $42.29.

Analysts Set New Price Targets

A number of research firms recently issued reports on CRSP. Bank of America decreased their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research note on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and issued a $65.00 target price on shares of CRISPR Therapeutics in a report on Thursday, February 13th. The Goldman Sachs Group decreased their price target on CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Morgan Stanley boosted their price objective on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.40.

CRISPR Therapeutics Trading Up 2.7 %

The firm has a market cap of $3.73 billion, a P/E ratio of -9.94 and a beta of 1.67. The business has a 50-day moving average price of $42.52 and a 200-day moving average price of $45.89.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John Greene acquired 7,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average price of $44.85 per share, with a total value of $313,950.00. Following the transaction, the director now directly owns 7,000 shares in the company, valued at approximately $313,950. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 18,360 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total transaction of $1,013,472.00. Following the completion of the sale, the chief executive officer now owns 171,613 shares of the company’s stock, valued at approximately $9,473,037.60. This trade represents a 9.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Institutional Trading of CRISPR Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CRSP. International Assets Investment Management LLC purchased a new stake in CRISPR Therapeutics in the third quarter valued at about $1,825,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of CRISPR Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,080 shares of the company’s stock valued at $146,000 after purchasing an additional 545 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in CRISPR Therapeutics in the 3rd quarter worth approximately $188,000. Privium Fund Management B.V. grew its position in CRISPR Therapeutics by 11.0% during the 3rd quarter. Privium Fund Management B.V. now owns 30,347 shares of the company’s stock worth $1,426,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in CRISPR Therapeutics by 3.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 10,271 shares of the company’s stock valued at $483,000 after purchasing an additional 330 shares in the last quarter. 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.