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

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) gapped down prior to trading on Tuesday . The stock had previously closed at $58.78, but opened at $53.94. CRISPR Therapeutics shares last traded at $53.5680, with a volume of 2,053,391 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRSP. Royal Bank Of Canada upped their price target on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the company a “sector perform” rating in a report on Tuesday, November 11th. Citigroup reaffirmed a “buy” rating on shares of CRISPR Therapeutics in a report on Monday, February 16th. Bank of America lowered their price target on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Morgan Stanley restated an “underweight” rating and set a $33.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, February 17th. Finally, TD Cowen increased their target price on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Hold” and an average target price of $64.24.

CRISPR Therapeutics Trading Down 8.5%

The firm’s 50-day moving average is $54.33 and its two-hundred day moving average is $57.40. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of -8.26 and a beta of 1.71.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.15) by ($0.22). CRISPR Therapeutics had a negative return on equity of 26.31% and a negative net margin of 16,569.77%.The firm had revenue of $0.86 million during the quarter, compared to analyst estimates of $4.72 million. During the same quarter in the previous year, the firm posted ($1.01) earnings per share. The company’s quarterly revenue was down 97.8% on a year-over-year basis. On average, analysts predict that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 2,112 shares of CRISPR Therapeutics stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $52.58, for a total transaction of $111,048.96. Following the sale, the general counsel owned 85,115 shares of the company’s stock, valued at $4,475,346.70. The trade was a 2.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Samarth Kulkarni sold 60,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $60.23, for a total transaction of $3,613,800.00. Following the completion of the transaction, the chief executive officer directly owned 134,201 shares in the company, valued at approximately $8,082,926.23. This represents a 30.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 99,079 shares of company stock worth $5,643,674 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in CRISPR Therapeutics by 5.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,516 shares of the company’s stock valued at $228,000 after acquiring an additional 180 shares in the last quarter. Cerity Partners LLC increased its position in shares of CRISPR Therapeutics by 3.0% in the 2nd quarter. Cerity Partners LLC now owns 6,541 shares of the company’s stock valued at $318,000 after purchasing an additional 190 shares during the last quarter. Peapack Gladstone Financial Corp raised its holdings in shares of CRISPR Therapeutics by 3.0% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company’s stock valued at $339,000 after purchasing an additional 200 shares in the last quarter. Optiver Holding B.V. lifted its position in shares of CRISPR Therapeutics by 71.4% during the 3rd quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock worth $33,000 after purchasing an additional 210 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. grew its stake in shares of CRISPR Therapeutics by 0.9% during the third quarter. Ipswich Investment Management Co. Inc. now owns 25,198 shares of the company’s stock worth $1,633,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds 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.