CRISPR Therapeutics (NASDAQ:CRSP) CEO Samarth Kulkarni Sells 4,098 Shares of Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) CEO Samarth Kulkarni sold 4,098 shares of the company’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $49.26, for a total value of $201,867.48. Following the completion of the sale, the chief executive officer directly owned 259,736 shares of the company’s stock, valued at approximately $12,794,595.36. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CRISPR Therapeutics Stock Performance

CRSP stock traded up $1.30 on Thursday, hitting $51.52. The company’s stock had a trading volume of 1,352,731 shares, compared to its average volume of 1,748,176. CRISPR Therapeutics AG has a 1 year low of $44.12 and a 1 year high of $75.06. The company has a current ratio of 17.85, a quick ratio of 17.85 and a debt-to-equity ratio of 0.34. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -10.82 and a beta of 1.76. The firm has a 50 day moving average of $55.08 and a two-hundred day moving average of $53.20.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share (EPS) for the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. The company had revenue of $10.18 million during the quarter. Equities analysts predict that CRISPR Therapeutics AG will post -4.48 EPS for the current fiscal year.

Institutional Trading of CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Canal Insurance CO acquired a new stake in shares of CRISPR Therapeutics in the first quarter valued at $1,670,000. Quantinno Capital Management LP boosted its holdings in shares of CRISPR Therapeutics by 613.5% in the first quarter. Quantinno Capital Management LP now owns 47,989 shares of the company’s stock worth $2,283,000 after buying an additional 41,263 shares during the period. KBC Group NV boosted its stake in CRISPR Therapeutics by 3,999.9% in the 1st quarter. KBC Group NV now owns 116,847 shares of the company’s stock worth $5,558,000 after purchasing an additional 113,997 shares during the period. Shah Wealth Advisors LLC acquired a new stake in shares of CRISPR Therapeutics in the second quarter worth $3,767,000. Finally, Raiffeisen Bank International AG purchased a new position in CRISPR Therapeutics during the 2nd quarter valued at about $1,127,000. 69.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRSP. UBS Group started coverage on shares of CRISPR Therapeutics in a research report on Thursday. They set a “neutral” rating and a $52.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Friday, July 17th. Needham & Company LLC restated a “buy” rating and issued a $82.00 price target on shares of CRISPR Therapeutics in a report on Monday, August 31st. Citizens Jmp restated a “market outperform” rating and issued a $80.00 target price on shares of CRISPR Therapeutics in a research note on Monday, August 31st. Finally, William Blair raised CRISPR Therapeutics to a “strong-buy” rating in a report on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.75.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG (NASDAQ: CRSP) is a biotechnology company focused on developing gene-editing medicines based on CRISPR/Cas9 technology. The company aims to treat serious diseases by precisely modifying genetic material in patients’ cells, with research programs spanning hematology, oncology, autoimmune diseases, and regenerative medicine.

Its lead product, CASGEVY (exagamglogene autotemcel), is a CRISPR/Cas9-based cell therapy developed with Vertex Pharmaceuticals. CASGEVY is approved in multiple markets, including the United States, United Kingdom, and European Union, for certain patients with sickle cell disease and transfusion-dependent beta thalassemia.