CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 2.9% on Insider Selling

CRISPR Therapeutics AG (NASDAQ:CRSP) fell 2.9% on Thursday after an insider sold shares in the company. The company traded as low as $42.78 and last traded at $42.22. 282,558 shares were traded during trading, a decline of 87% from the average session volume of 2,214,576 shares. The stock had previously closed at $43.49.

Specifically, COO Julianne Bruno sold 1,198 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $50,819.16. Following the sale, the chief operating officer now owns 8,263 shares in the company, valued at $350,516.46. The trade was a 12.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel James R. Kasinger sold 2,850 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total value of $120,897.00. Following the sale, the general counsel now owns 77,530 shares in the company, valued at $3,288,822.60. This represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. In related news, CEO Samarth Kulkarni sold 9,973 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $423,054.66. Following the sale, the chief executive officer now owns 180,890 shares in the company, valued at $7,673,353.80. The trade was a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRSP. Needham & Company LLC restated a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics 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 on the stock in a research report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, February 13th. Barclays upped their price target on CRISPR Therapeutics from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley upped their price target on CRISPR Therapeutics from $30.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, CRISPR Therapeutics presently has a consensus rating of “Hold” and an average target price of $73.11.

CRISPR Therapeutics Stock Performance

The business has a 50 day moving average of $43.06 and a two-hundred day moving average of $45.58. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -9.64 and a beta of 1.77.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share 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%. On average, equities analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC acquired a new position in CRISPR Therapeutics during the 4th quarter worth approximately $30,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of CRISPR Therapeutics in the third quarter worth approximately $40,000. Ameriflex Group Inc. purchased a new stake in shares of CRISPR Therapeutics in the fourth quarter worth approximately $36,000. Darwin Wealth Management LLC purchased a new stake in shares of CRISPR Therapeutics in the third quarter worth approximately $43,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of CRISPR Therapeutics in the fourth quarter worth approximately $39,000. 69.20% of the stock is owned by institutional investors and hedge funds.

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.