CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 9.1% – Should You Sell?

CRISPR Therapeutics AG (NASDAQ:CRSP) shares fell 9.1% on Tuesday. The stock traded as low as $45.48 and last traded at $45.4990. Approximately 2,120,953 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 1,717,622 shares. The stock had previously closed at $50.04.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, November 3rd. Wall Street Zen upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. UBS Group initiated coverage on shares of CRISPR Therapeutics in a report on Thursday, October 15th. They issued a “neutral” rating and a $52.00 price target on the stock. Citizens Jmp restated a “market outperform” rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Finally, William Blair upgraded CRISPR Therapeutics to a “strong-buy” rating in a report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.69.

CRISPR Therapeutics Stock Down 9.2%

The company has a current ratio of 16.21, a quick ratio of 17.85 and a debt-to-equity ratio of 0.36. The stock has a market cap of $4.41 billion, a P/E ratio of -9.58 and a beta of 1.92. The firm has a 50-day simple moving average of $53.12 and a two-hundred day simple moving average of $52.78.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Monday, November 2nd. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.09). The firm had revenue of $12.67 million for the quarter, compared to analyst estimates of $14.75 million. CRISPR Therapeutics had a negative return on equity of 25.59% and a negative net margin of 1,812.07%. CRISPR Therapeutics’s quarterly revenue was up 1311.1% compared to the same quarter last year. Equities research analysts expect that CRISPR Therapeutics AG will post -4.50 earnings per share for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 47,837 shares of the firm’s stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $49.78, for a total transaction of $2,381,325.86. Following the transaction, the chief executive officer directly owned 311,899 shares of the company’s stock, valued at approximately $15,526,332.22. This trade represents a 13.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ali Behbahani sold 13,679 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $57.09, for a total transaction of $780,934.11. Following the transaction, the director directly owned 16,637 shares in the company, valued at $949,806.33. This represents a 45.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 93,558 shares of company stock worth $4,881,663 over the last quarter. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Choreo LLC boosted its holdings in CRISPR Therapeutics by 3.4% during the 3rd quarter. Choreo LLC now owns 7,539 shares of the company’s stock worth $417,000 after acquiring an additional 247 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of CRISPR Therapeutics by 15.5% in the 3rd quarter. Sterling Capital Management LLC now owns 1,934 shares of the company’s stock worth $107,000 after buying an additional 260 shares during the last quarter. Interchange Capital Partners LLC grew its position in CRISPR Therapeutics by 6.0% during the third quarter. Interchange Capital Partners LLC now owns 4,766 shares of the company’s stock valued at $264,000 after buying an additional 268 shares during the period. Versant Capital Management Inc increased its holdings in CRISPR Therapeutics by 175.1% during the second quarter. Versant Capital Management Inc now owns 465 shares of the company’s stock worth $25,000 after buying an additional 296 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in CRISPR Therapeutics by 4.5% in the first quarter. Sunbelt Securities Inc. now owns 7,843 shares of the company’s stock worth $373,000 after acquiring an additional 336 shares during the period. Institutional investors own 69.20% of the company’s stock.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biotechnology company focused on developing gene-based medicines using CRISPR/Cas9, a gene-editing technology that can make targeted changes to DNA. Founded in 2013, the company is headquartered in Zug, Switzerland, and maintains U.S. operations in Cambridge, Massachusetts. Its lead product, Casgevy (exa-cel), was developed with Vertex Pharmaceuticals for people with sickle cell disease and transfusion-dependent beta thalassemia. It was the first therapy based on CRISPR gene editing to receive regulatory approval.