CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 1.3%

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) traded down 1.3% during mid-day trading on Wednesday . The stock traded as low as $68.88 and last traded at $70.05. 428,040 shares changed hands during trading, a decline of 78% from the average session volume of 1,956,221 shares. The stock had previously closed at $70.97.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of CRISPR Therapeutics from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Wolfe Research assumed coverage on shares of CRISPR Therapeutics in a report on Thursday, February 15th. They issued a “peer perform” rating for the company. Royal Bank of Canada raised their price objective on shares of CRISPR Therapeutics from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. TheStreet raised shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a report on Friday, February 23rd. Finally, Mizuho raised their price objective on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $74.75.

CRISPR Therapeutics Price Performance

The business’s 50-day simple moving average is $73.90 and its 200-day simple moving average is $61.75.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Wednesday, February 21st. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.95. CRISPR Therapeutics had a negative net margin of 240.84% and a negative return on equity of 8.09%. The firm had revenue of $201.20 million for the quarter, compared to analysts’ expectations of $148.72 million. During the same quarter in the previous year, the company earned ($1.41) earnings per share. The company’s revenue for the quarter was up 3253.3% compared to the same quarter last year. As a group, equities research analysts expect that CRISPR Therapeutics AG will post -6.24 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $62.50, for a total transaction of $1,250,000.00. Following the transaction, the chief executive officer now owns 187,377 shares in the company, valued at $11,711,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel James R. Kasinger sold 2,801 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $78.26, for a total transaction of $219,206.26. Following the sale, the general counsel now owns 60,070 shares of the company’s stock, valued at $4,701,078.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Samarth Kulkarni sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $62.50, for a total transaction of $1,250,000.00. Following the completion of the transaction, the chief executive officer now owns 187,377 shares in the company, valued at approximately $11,711,062.50. The disclosure for this sale can be found here. Insiders have sold 134,410 shares of company stock worth $9,234,677 over the last 90 days. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRSP. Jump Financial LLC raised its holdings in shares of CRISPR Therapeutics by 194.7% during the third quarter. Jump Financial LLC now owns 33,307 shares of the company’s stock valued at $1,512,000 after purchasing an additional 22,006 shares during the last quarter. Baker Chad R purchased a new stake in CRISPR Therapeutics during the third quarter valued at approximately $2,365,000. Capital Advisors Inc. OK increased its holdings in CRISPR Therapeutics by 7.4% during the third quarter. Capital Advisors Inc. OK now owns 231,925 shares of the company’s stock valued at $10,527,000 after buying an additional 15,951 shares during the last quarter. Credit Suisse AG increased its holdings in CRISPR Therapeutics by 8.8% during the second quarter. Credit Suisse AG now owns 921,656 shares of the company’s stock valued at $51,742,000 after buying an additional 74,383 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in CRISPR Therapeutics by 1.5% during the third quarter. Invesco Ltd. now owns 136,123 shares of the company’s stock valued at $6,179,000 after buying an additional 2,061 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

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.