CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 1.8%

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) dropped 1.8% on Monday . The stock traded as low as $61.36 and last traded at $62.40. Approximately 273,954 shares traded hands during trading, a decline of 83% from the average daily volume of 1,654,845 shares. The stock had previously closed at $63.56.

Analyst Ratings Changes

Several research firms have recently weighed in on CRSP. Needham & Company LLC reaffirmed a “buy” rating and set a $88.00 price objective on shares of CRISPR Therapeutics in a research report on Monday. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a report on Thursday, May 9th. Chardan Capital lifted their price objective on shares of CRISPR Therapeutics from $110.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Piper Sandler reiterated an “overweight” rating and issued a $105.00 price objective on shares of CRISPR Therapeutics in a report on Monday. Finally, Morgan Stanley lifted their price objective on shares of CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $75.71.

CRISPR Therapeutics Price Performance

The stock’s 50-day simple moving average is $56.97 and its 200 day simple moving average is $65.03. The stock has a market capitalization of $5.14 billion, a P/E ratio of -22.27 and a beta of 1.78.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The business had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $25.53 million. CRISPR Therapeutics’s revenue for the quarter was down 99.5% on a year-over-year basis. During the same period last year, the business posted ($0.67) earnings per share. As a group, analysts expect that CRISPR Therapeutics AG will post -5.51 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 value of $1,173,157.62. Following the completion of the sale, the chief executive officer now owns 208,122 shares of the company’s stock, valued at $12,468,589.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new position in CRISPR Therapeutics in the fourth quarter valued at about $32,000. Bourgeon Capital Management LLC raised its stake in CRISPR Therapeutics by 1,000.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in CRISPR Therapeutics by 66.7% in the first 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 in the last quarter. Principal Securities Inc. acquired a new position in CRISPR Therapeutics in the fourth quarter valued at about $41,000. Finally, NBC Securities Inc. raised its stake in CRISPR Therapeutics by 257.6% in the first quarter. NBC Securities Inc. now owns 608 shares of the company’s stock valued at $41,000 after purchasing an additional 438 shares in the last quarter. Institutional investors and hedge funds 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.