CRISPR Therapeutics (NASDAQ:CRSP) Reaches New 12-Month Low – Here’s What Happened

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $38.29 and last traded at $38.33, with a volume of 449097 shares traded. The stock had previously closed at $40.02.

Wall Street Analyst Weigh In

CRSP has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Barclays dropped their price target on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Chardan Capital restated a “buy” rating and issued a $94.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, CRISPR Therapeutics presently has an average rating of “Hold” and an average price target of $77.93.

CRISPR Therapeutics Trading Up 1.8 %

The firm’s fifty day simple moving average is $47.30 and its 200 day simple moving average is $49.59. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -13.91 and a beta of 1.62.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.41. The firm had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. During the same quarter in the prior year, the company posted ($1.41) earnings per share. As a group, sell-side analysts expect that CRISPR Therapeutics AG will post -5.13 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In related news, General Counsel James R. Kasinger sold 1,089 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the sale, the general counsel now directly owns 62,597 shares of the company’s stock, valued at $2,896,989.16. This represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Samarth Kulkarni sold 4,293 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $198,680.04. Following the completion of the sale, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at $10,484,271.20. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,382 shares of company stock valued at $2,744,179 over the last three months. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of CRISPR Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its holdings in shares of CRISPR Therapeutics by 12.7% in the third quarter. Franklin Resources Inc. now owns 7,097 shares of the company’s stock valued at $339,000 after buying an additional 800 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in CRISPR Therapeutics during the 3rd quarter valued at approximately $40,000. Sanctuary Advisors LLC lifted its position in CRISPR Therapeutics by 17.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,317 shares of the company’s stock worth $398,000 after acquiring an additional 1,258 shares during the period. Sunbelt Securities Inc. grew its stake in shares of CRISPR Therapeutics by 11.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,955 shares of the company’s stock valued at $139,000 after purchasing an additional 300 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of CRISPR Therapeutics by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company’s stock valued at $47,383,000 after purchasing an additional 35,196 shares during the period. Hedge funds and other 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.