CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 0.3% – Here’s Why

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price dropped 0.3% during trading on Thursday . The company traded as low as $41.96 and last traded at $42.11. Approximately 411,593 shares changed hands during trading, a decline of 78% from the average daily volume of 1,895,333 shares. The stock had previously closed at $42.22.

Analysts Set New Price Targets

Several research firms recently weighed in on CRSP. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, January 14th. StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a research note on Monday, December 30th. Bank of America decreased their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $53.00 price objective on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Finally, Chardan Capital reissued a “buy” rating and issued a $94.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $77.59.

CRISPR Therapeutics Trading Down 2.2 %

The company has a market capitalization of $3.39 billion, a PE ratio of -14.03 and a beta of 1.67. The business’s fifty day moving average is $42.99 and its two-hundred day moving average is $46.78.

CRISPR Therapeutics (NASDAQ:CRSP) last announced 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 return on equity of 12.15% and a negative net margin of 118.13%. The firm had revenue of $0.60 million for the quarter, compared to the consensus estimate of $6.65 million. During the same period in the prior year, the company posted ($1.41) earnings per share. As a group, equities research analysts anticipate that CRISPR Therapeutics AG will post -5.08 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 30,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.62, for a total transaction of $1,668,600.00. Following the transaction, the chief executive officer now directly owns 196,540 shares of the company’s stock, valued at $10,931,554.80. This represents a 13.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

A number of hedge funds have recently bought and sold shares of CRSP. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CRISPR Therapeutics by 3.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,217 shares of the company’s stock valued at $874,000 after purchasing an additional 645 shares during the period. Farrow Financial Inc. grew its position in CRISPR Therapeutics by 1.4% during the fourth quarter. Farrow Financial Inc. now owns 20,097 shares of the company’s stock valued at $777,000 after buying an additional 270 shares during the period. Intellectus Partners LLC increased its holdings in CRISPR Therapeutics by 3.6% during the fourth quarter. Intellectus Partners LLC now owns 7,131 shares of the company’s stock valued at $281,000 after buying an additional 250 shares during the last quarter. PNC Financial Services Group Inc. raised its position in CRISPR Therapeutics by 16.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,346 shares of the company’s stock worth $171,000 after acquiring an additional 606 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of CRISPR Therapeutics during the 4th quarter worth $211,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

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.