CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 3.5%

CRISPR Therapeutics AG (NASDAQ:CRSP) shares fell 3.5% on Thursday . The stock traded as low as $58.05 and last traded at $58.42. 421,552 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,646,181 shares. The stock had previously closed at $60.57.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRSP. Piper Sandler reissued an “overweight” rating and issued a $105.00 target price on shares of CRISPR Therapeutics in a research note on Monday, June 17th. Cantor Fitzgerald reissued a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 target price on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Morgan Stanley boosted their price target on CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Finally, Citigroup reduced their price objective on 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 given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.71.

CRISPR Therapeutics Stock Down 5.6 %

The stock’s 50 day moving average is $56.79 and its two-hundred day moving average is $64.86.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) EPS 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. The business’s revenue was down 99.5% on a year-over-year basis. During the same period last year, the firm posted ($0.67) earnings per share. As a group, analysts anticipate that CRISPR Therapeutics AG will post -5.51 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 19,582 shares of the 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 sale, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at $12,468,589.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds have recently modified their holdings of CRSP. Capital International Investors increased its holdings in shares of CRISPR Therapeutics by 27.8% during the first quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock valued at $534,175,000 after acquiring an additional 1,702,624 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of CRISPR Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock valued at $534,360,000 after acquiring an additional 1,372,986 shares in the last quarter. SR One Capital Management LP acquired a new position in shares of CRISPR Therapeutics during the first quarter valued at about $71,496,000. Norges Bank acquired a new position in shares of CRISPR Therapeutics during the fourth quarter valued at about $38,661,000. Finally, Avoro Capital Advisors LLC acquired a new position in shares of CRISPR Therapeutics during the first quarter valued at about $28,599,000. Institutional investors and hedge funds 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.