CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 5.5% – Time to Sell?

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) dropped 5.5% during trading on Tuesday . The company traded as low as $52.03 and last traded at $52.13. Approximately 871,891 shares changed hands during trading, a decline of 42% from the average daily volume of 1,491,238 shares. The stock had previously closed at $55.15.

Analyst Ratings Changes

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

CRISPR Therapeutics Price Performance

The stock has a 50-day moving average of $48.30 and a two-hundred day moving average of $51.58.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The business had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. During the same quarter in the previous year, the business earned ($1.41) earnings per share. Research analysts expect that CRISPR Therapeutics AG will post -5.14 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel James R. Kasinger sold 1,089 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following the transaction, the general counsel now owns 62,597 shares in the company, valued at approximately $2,896,989.16. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Samarth Kulkarni sold 4,293 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $198,680.04. Following the transaction, the chief executive officer now owns 226,540 shares in the company, valued at approximately $10,484,271.20. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,382 shares of company stock worth $1,917,679. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of CRISPR Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Trust Asset Management LLC lifted its holdings in CRISPR Therapeutics by 150.0% in the 2nd quarter. Global Trust Asset Management LLC now owns 500 shares of the company’s stock worth $27,000 after purchasing an additional 300 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of CRISPR Therapeutics by 95.5% during the 2nd quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock worth $31,000 after buying an additional 276 shares during the period. GPS Wealth Strategies Group LLC grew its stake in CRISPR Therapeutics by 99.7% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company’s stock valued at $33,000 after buying an additional 307 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in CRISPR Therapeutics in the 2nd quarter worth $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in CRISPR Therapeutics during the 3rd quarter worth $40,000. 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.