CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 4.7% Following Insider Selling

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price fell 4.7% during trading on Monday following insider selling activity. The stock traded as low as $45.16 and last traded at $45.65. 914,670 shares were traded during mid-day trading, a decline of 62% from the average session volume of 2,389,636 shares. The stock had previously closed at $47.91.

Specifically, CEO Samarth Kulkarni sold 18,360 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total transaction of $1,013,472.00. Following the completion of the transaction, the chief executive officer now directly owns 171,613 shares of the company’s stock, valued at approximately $9,473,037.60. This represents a 9.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CRSP. StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research report on Thursday, February 13th. Evercore ISI raised CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and increased their price target for the company from $60.00 to $99.00 in a research report on Friday, February 14th. Truist Financial increased their price target on CRISPR Therapeutics from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group reduced their price target on CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Bank of America reduced their price target on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $74.40.

CRISPR Therapeutics Stock Down 3.1 %

The company has a market cap of $3.98 billion, a P/E ratio of -10.58 and a beta of 1.67. The stock has a 50 day moving average price of $42.25 and a two-hundred day moving average price of $46.03.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. Equities analysts anticipate that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameriflex Group Inc. bought a new position in CRISPR Therapeutics during the 4th quarter worth $36,000. GF Fund Management CO. LTD. bought a new position in CRISPR Therapeutics during the 4th quarter worth $71,000. Sunbelt Securities Inc. increased its stake in CRISPR Therapeutics by 108.6% during the 4th quarter. Sunbelt Securities Inc. now owns 6,165 shares of the company’s stock worth $238,000 after acquiring an additional 3,210 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of CRISPR Therapeutics by 2.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 690,191 shares of the company’s stock valued at $27,166,000 after purchasing an additional 13,865 shares in the last quarter. Finally, Woodline Partners LP boosted its holdings in shares of CRISPR Therapeutics by 1.6% in the 4th quarter. Woodline Partners LP now owns 101,600 shares of the company’s stock valued at $3,999,000 after purchasing an additional 1,600 shares in the last quarter. 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.