Short Interest in CRISPR Therapeutics AG (NASDAQ:CRSP) Drops By 5.0%

CRISPR Therapeutics AG (NASDAQ:CRSP) saw a significant decrease in short interest in June. As of June 15th, there was short interest totalling 14,870,000 shares, a decrease of 5.0% from the May 31st total of 15,660,000 shares. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is currently 11.1 days.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 19,582 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the transaction, the chief executive officer now owns 208,122 shares in the company, valued at $12,468,589.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 19,582 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the transaction, the chief executive officer now owns 208,122 shares in the company, valued at $12,468,589.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Julianne Bruno sold 3,366 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the transaction, the chief operating officer now owns 6,745 shares in the company, valued at approximately $378,327.05. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of CRISPR Therapeutics

Institutional investors have recently bought and sold shares of the business. Congress Asset Management Co. MA lifted its holdings in CRISPR Therapeutics by 60.3% during the 1st quarter. Congress Asset Management Co. MA now owns 64,605 shares of the company’s stock worth $4,403,000 after buying an additional 24,303 shares during the last quarter. PBCay One RSC Ltd purchased a new stake in CRISPR Therapeutics during the 4th quarter worth about $10,329,000. Invesco Ltd. lifted its holdings in CRISPR Therapeutics by 1.5% during the 3rd quarter. Invesco Ltd. now owns 136,123 shares of the company’s stock worth $6,179,000 after buying an additional 2,061 shares during the last quarter. ARK Investment Management LLC lifted its holdings in CRISPR Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after buying an additional 1,372,986 shares during the last quarter. Finally, Norges Bank purchased a new stake in CRISPR Therapeutics during the 4th quarter worth about $38,661,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Trading Down 1.5 %

NASDAQ:CRSP opened at $53.12 on Wednesday. The firm has a market cap of $4.51 billion, a PE ratio of -19.53 and a beta of 1.70. The stock has a fifty day moving average price of $56.62 and a 200 day moving average price of $64.40. CRISPR Therapeutics has a 12-month low of $37.55 and a 12-month high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $25.53 million. The company’s revenue for the quarter was down 99.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.67) EPS. Equities analysts forecast that CRISPR Therapeutics will post -5.51 EPS for the current year.

Analysts Set New Price Targets

CRSP has been the topic of several research reports. Barclays decreased their target price on CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Guggenheim reaffirmed a “neutral” rating on shares of CRISPR Therapeutics in a report on Friday, June 28th. Mizuho increased their price target on CRISPR Therapeutics from $82.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Oppenheimer cut their price target on CRISPR Therapeutics from $102.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Finally, Citigroup cut their price target on CRISPR Therapeutics from $89.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, CRISPR Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $75.71.

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.