CRISPR Therapeutics (NASDAQ:CRSP) Insider Naimish Patel Sells 3,786 Shares

CRISPR Therapeutics AG (NASDAQ:CRSP) insider Naimish Patel sold 3,786 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $55.62, for a total value of $210,577.32. Following the transaction, the insider owned 19,357 shares in the company, valued at approximately $1,076,636.34. This represents a 16.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Naimish Patel also recently made the following trade(s):

• On Monday, March 16th, Naimish Patel sold 3,150 shares of CRISPR Therapeutics stock. The stock was sold at an average price of $48.26, for a total value of $152,019.00.

CRISPR Therapeutics Trading Down 3.5%

Shares of CRISPR Therapeutics stock opened at $54.19 on Tuesday. The stock has a market cap of $5.23 billion, a P/E ratio of -8.71 and a beta of 1.74. The stock’s 50 day simple moving average is $51.51 and its 200-day simple moving average is $53.11. CRISPR Therapeutics AG has a 1-year low of $36.08 and a 1-year high of $78.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 17.97 and a quick ratio of 17.96.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share for the quarter. The company had revenue of $1.46 million for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%. Analysts predict that CRISPR Therapeutics AG will post -4.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CRSP has been the topic of several analyst reports. Chardan Capital lifted their price target on shares of CRISPR Therapeutics from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Saturday, February 14th. Evercore reaffirmed an “outperform” rating and set a $76.00 price target on shares of CRISPR Therapeutics in a research report on Monday, May 11th. Wall Street Zen raised shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Monday, April 20th. Finally, Truist Financial raised shares of CRISPR Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, CRISPR Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $65.47.

Institutional Trading of CRISPR Therapeutics

A number of large investors have recently modified their holdings of the stock. ARK Investment Management LLC increased its position in shares of CRISPR Therapeutics by 7.5% during the fourth quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock worth $551,777,000 after acquiring an additional 735,084 shares during the period. Orbis Allan Gray Ltd increased its position in shares of CRISPR Therapeutics by 19.4% during the fourth quarter. Orbis Allan Gray Ltd now owns 5,950,145 shares of the company’s stock worth $312,026,000 after acquiring an additional 968,060 shares during the period. Capital International Investors increased its position in shares of CRISPR Therapeutics by 4.3% during the fourth quarter. Capital International Investors now owns 5,892,745 shares of the company’s stock worth $309,016,000 after acquiring an additional 243,487 shares during the period. State Street Corp grew its stake in shares of CRISPR Therapeutics by 35.6% during the second quarter. State Street Corp now owns 3,270,596 shares of the company’s stock worth $159,082,000 after purchasing an additional 859,334 shares in the last quarter. Finally, GSK plc acquired a new position in shares of CRISPR Therapeutics during the fourth quarter worth $168,890,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.