CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 1.5%

CRISPR Therapeutics AG (NASDAQ:CRSP) shares were down 1.5% during mid-day trading on Monday . The company traded as low as $59.30 and last traded at $59.75. Approximately 469,759 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,847,837 shares. The stock had previously closed at $60.67.

Analysts Set New Price Targets

A number of analysts recently issued reports on CRSP shares. Chardan Capital raised their price target on CRISPR Therapeutics from $110.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Wolfe Research assumed coverage on CRISPR Therapeutics in a research note on Thursday, February 15th. They set a “peer perform” rating on the stock. Morgan Stanley raised their price target on CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a research note on Monday, February 26th. Royal Bank of Canada raised their price target on CRISPR Therapeutics from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Thursday, February 22nd. Finally, Mizuho raised their price objective on CRISPR Therapeutics from $82.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, CRISPR Therapeutics currently has a consensus rating of “Hold” and an average price target of $74.93.

CRISPR Therapeutics Trading Down 1.3 %

The stock has a fifty day moving average of $73.89 and a 200 day moving average of $63.30.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Wednesday, February 21st. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.95. The firm had revenue of $201.20 million for the quarter, compared to analyst estimates of $148.72 million. The company’s revenue for the quarter was up 3253.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.41) EPS. Analysts expect that CRISPR Therapeutics AG will post -6.24 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 50,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $60.51, for a total transaction of $3,025,500.00. Following the completion of the transaction, the chief executive officer now directly owns 187,377 shares in the company, valued at $11,338,182.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Raju Prasad sold 3,524 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $72.69, for a total transaction of $256,159.56. Following the completion of the sale, the chief financial officer now directly owns 6,476 shares in the company, valued at $470,740.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $60.51, for a total value of $3,025,500.00. Following the sale, the chief executive officer now owns 187,377 shares of the company’s stock, valued at $11,338,182.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,410 shares of company stock worth $7,984,677. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of CRISPR Therapeutics

Several large investors have recently made changes to their positions in the company. ARK Investment Management LLC increased its position 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 worth $534,360,000 after purchasing an additional 1,372,986 shares in the last quarter. Capital International Investors boosted its stake in CRISPR Therapeutics by 0.8% during the fourth quarter. Capital International Investors now owns 6,134,450 shares of the company’s stock worth $384,017,000 after buying an additional 48,938 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in CRISPR Therapeutics by 158.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,014,551 shares of the company’s stock valued at $183,194,000 after buying an additional 1,848,437 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of CRISPR Therapeutics by 33.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,993,577 shares of the company’s stock worth $121,689,000 after acquiring an additional 752,132 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of CRISPR Therapeutics by 6.4% during the 1st quarter. BlackRock Inc. now owns 2,798,581 shares of the company’s stock worth $126,580,000 after acquiring an additional 168,844 shares during the period. 69.20% of the stock is currently owned by hedge funds and other 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.