CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 1.5%

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price was down 1.5% on Tuesday . The stock traded as low as $53.26 and last traded at $54.01. Approximately 213,922 shares traded hands during trading, a decline of 88% from the average daily volume of 1,778,945 shares. The stock had previously closed at $54.83.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRSP. Wells Fargo & Company increased their target price on CRISPR Therapeutics from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Mizuho boosted their price objective on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Chardan Capital raised their target price on shares of CRISPR Therapeutics from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. TheStreet upgraded shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada lifted their target price on CRISPR Therapeutics from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.29.

CRISPR Therapeutics Stock Performance

The company’s 50-day moving average price is $70.02 and its 200 day moving average price is $64.17. The stock has a market cap of $4.49 billion, a PE ratio of -27.56 and a beta of 1.76.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Wednesday, February 21st. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.95. The business had revenue of $201.20 million for the quarter, compared to analysts’ expectations of $148.72 million. The firm’s quarterly revenue was up 3253.3% on a year-over-year basis. During the same period in the prior year, the company posted ($1.41) earnings per share. On average, sell-side analysts anticipate that CRISPR Therapeutics AG will post -6.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Samarth Kulkarni sold 19,582 shares of CRISPR Therapeutics stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the transaction, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at approximately $12,468,589.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 19,582 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following 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 SEC, which is available through this hyperlink. Also, General Counsel James R. Kasinger sold 1,913 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the sale, the general counsel now owns 57,371 shares of the company’s stock, valued at approximately $4,570,747.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,992 shares of company stock valued at $6,132,335. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. ARK Investment Management LLC grew its stake in CRISPR Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock valued at $534,360,000 after acquiring an additional 1,372,986 shares in the last quarter. Norges Bank bought a new stake in shares of CRISPR Therapeutics in the fourth quarter worth about $38,661,000. Westfield Capital Management Co. LP purchased a new stake in shares of CRISPR Therapeutics in the third quarter worth about $13,506,000. Baillie Gifford & Co. boosted its stake in CRISPR Therapeutics by 81.1% during the third quarter. Baillie Gifford & Co. now owns 441,063 shares of the company’s stock valued at $20,020,000 after buying an additional 197,469 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. purchased a new position in CRISPR Therapeutics during the 4th quarter valued at approximately $10,848,000. 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.