CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 8.7% – Here’s Why

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) fell 8.7% during mid-day trading on Monday . The company traded as low as $33.05 and last traded at $33.76. 679,792 shares were traded during mid-day trading, a decline of 56% from the average session volume of 1,549,634 shares. The stock had previously closed at $36.99.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CRSP shares. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a research note on Wednesday, February 19th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Bank of America lowered their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group reduced their price objective on CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Citigroup lowered their target price on CRISPR Therapeutics from $89.00 to $82.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.11.

CRISPR Therapeutics Price Performance

The company has a market cap of $2.90 billion, a price-to-earnings ratio of -7.74 and a beta of 1.77. The stock has a 50 day simple moving average of $43.10 and a two-hundred day simple moving average of $45.17.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating 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 EPS for the current year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 18,360 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 171,613 shares of the company’s stock, valued at approximately $9,473,037.60. This represents a 9.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Julianne Bruno sold 1,198 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $50,819.16. Following the sale, the chief operating officer now directly owns 8,263 shares in the company, valued at $350,516.46. This represents a 12.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,381 shares of company stock valued at $1,608,243. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors have recently modified their holdings of the business. Wood Tarver Financial Group LLC acquired a new position in CRISPR Therapeutics during the 4th quarter worth $30,000. Wilmington Savings Fund Society FSB acquired a new position in shares of CRISPR Therapeutics during the third quarter worth about $40,000. Ameriflex Group Inc. purchased a new stake in shares of CRISPR Therapeutics during the fourth quarter worth approximately $36,000. Highline Wealth Partners LLC acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $39,000. Finally, Western Pacific Wealth Management LP lifted its stake in CRISPR Therapeutics by 100.0% in the fourth 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. Institutional investors and hedge funds 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.