CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 1.3% Following Insider Selling

CRISPR Therapeutics AG (NASDAQ:CRSP) was down 1.3% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $56.35 and last traded at $57.20. Approximately 127,874 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,655,662 shares. The stock had previously closed at $57.94.

Specifically, CEO Samarth Kulkarni sold 19,582 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the completion of the transaction, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at $12,468,589.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Julianne Bruno sold 3,366 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $56.09, for a total transaction of $188,798.94. Following the transaction, the chief operating officer now owns 6,745 shares in the company, valued at $378,327.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Samarth Kulkarni sold 19,582 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were 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 owns 208,122 shares in the company, valued at approximately $12,468,589.02. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CRSP. Needham & Company LLC restated a “buy” rating and issued a $88.00 price objective on shares of CRISPR Therapeutics in a report on Monday, June 17th. Barclays cut their price objective on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Mizuho upped 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. Piper Sandler restated an “overweight” rating and issued a $105.00 price objective on shares of CRISPR Therapeutics in a report on Monday, June 17th. Finally, Citigroup cut their price objective on shares of CRISPR Therapeutics from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.71.

CRISPR Therapeutics Price Performance

The firm has a market capitalization of $4.75 billion, a P/E ratio of -20.57 and a beta of 1.78. The company’s 50-day simple moving average is $56.74 and its two-hundred day simple moving average is $64.63.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $25.53 million. During the same quarter in the previous year, the firm earned ($0.67) EPS. The company’s revenue for the quarter was down 99.5% on a year-over-year basis. Analysts predict that CRISPR Therapeutics AG will post -5.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRSP. Riggs Asset Managment Co. Inc. raised its position in shares of CRISPR Therapeutics by 66.7% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the period. Orion Capital Management LLC grew its stake in CRISPR Therapeutics by 44.0% during the first quarter. Orion Capital Management LLC now owns 720 shares of the company’s stock valued at $49,000 after acquiring an additional 220 shares in the last quarter. Itau Unibanco Holding S.A. grew its stake in CRISPR Therapeutics by 10.8% during the third quarter. Itau Unibanco Holding S.A. now owns 2,521 shares of the company’s stock valued at $114,000 after acquiring an additional 245 shares in the last quarter. WealthPlan Investment Management LLC grew its stake in CRISPR Therapeutics by 3.1% during the fourth quarter. WealthPlan Investment Management LLC now owns 9,663 shares of the company’s stock valued at $605,000 after acquiring an additional 288 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in CRISPR Therapeutics by 7.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,200 shares of the company’s stock valued at $286,000 after acquiring an additional 300 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors.

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.