CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 4% – Time to Sell?

CRISPR Therapeutics AG (NASDAQ:CRSP) shares fell 4% during trading on Tuesday . The stock traded as low as $47.65 and last traded at $48.57. 179,809 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 1,442,651 shares. The stock had previously closed at $50.59.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRSP. Chardan Capital dropped their price target on CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Barclays decreased their price objective on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday. Stifel Nicolaus decreased their price objective on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Truist Financial lowered their price target on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a report on Wednesday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $74.94.

CRISPR Therapeutics Trading Up 0.7 %

The firm has a 50-day moving average of $47.29 and a 200-day moving average of $52.24. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -15.70 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.41. The company had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. During the same period in the prior year, the business posted ($1.41) earnings per share. On average, equities research analysts anticipate that CRISPR Therapeutics AG will post -5.57 EPS for the current year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,089 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the sale, the general counsel now directly owns 62,597 shares of the company’s stock, valued at approximately $2,896,989.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel James R. Kasinger sold 1,089 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $50,398.92. Following 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Samarth Kulkarni sold 4,293 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $198,680.04. Following the sale, the chief executive officer now directly owns 226,540 shares in the company, valued at approximately $10,484,271.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Several hedge funds have recently modified their holdings of CRSP. Private Advisor Group LLC lifted its stake in CRISPR Therapeutics by 51.8% in the 1st quarter. Private Advisor Group LLC now owns 13,551 shares of the company’s stock valued at $923,000 after buying an additional 4,625 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in CRISPR Therapeutics by 252.2% in the 1st quarter. BNP Paribas Financial Markets now owns 148,942 shares of the company’s stock valued at $10,152,000 after buying an additional 106,652 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in CRISPR Therapeutics by 55.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the company’s stock valued at $59,000 after buying an additional 311 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in CRISPR Therapeutics by 12.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 29,692 shares of the company’s stock valued at $2,024,000 after buying an additional 3,257 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in CRISPR Therapeutics in the 1st quarter valued at about $1,602,000. 69.20% of the stock is 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.