CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 4.7% Following Insider Selling

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price fell 4.7% on Monday following insider selling activity. The company traded as low as $45.16 and last traded at $45.65. 914,670 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 2,389,636 shares. The stock had previously closed at $47.91.

Specifically, CEO Samarth Kulkarni sold 18,360 shares of CRISPR Therapeutics stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total transaction of $1,013,472.00. Following the completion of the sale, the chief executive officer now owns 171,613 shares of the company’s stock, valued at approximately $9,473,037.60. This trade represents a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

CRSP has been the subject of several research analyst reports. Chardan Capital dropped their price objective on CRISPR Therapeutics from $94.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citigroup lowered their price target on CRISPR Therapeutics from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Stifel Nicolaus lowered their price target on CRISPR Therapeutics from $53.00 to $49.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.40.

CRISPR Therapeutics Stock Performance

The business has a 50-day moving average price of $42.29 and a 200 day moving average price of $46.02. The stock has a market capitalization of $3.99 billion, a P/E ratio of -10.66 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. As a group, research analysts forecast that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in CRISPR Therapeutics in the 4th quarter worth approximately $36,000. Highline Wealth Partners LLC purchased a new position in CRISPR Therapeutics in the 4th quarter worth approximately $39,000. Western Pacific Wealth Management LP raised its holdings in CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after acquiring an additional 500 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in CRISPR Therapeutics in the 3rd quarter worth approximately $40,000. Finally, Darwin Wealth Management LLC purchased a new stake in CRISPR Therapeutics during the 3rd quarter valued at $43,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

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.