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

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price fell 4.7% on Monday after an insider sold shares in the company. The stock traded as low as $45.16 and last traded at $45.65. 914,670 shares changed hands during 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 the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total value 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. The trade was a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Cantor Fitzgerald reissued a “neutral” rating on shares of CRISPR Therapeutics in a research note on Wednesday, February 19th. HC Wainwright reissued a “buy” rating and issued a $65.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Barclays boosted their price objective on CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Evercore ISI raised CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $99.00 in a research note on Friday, February 14th. Finally, Royal Bank of Canada reduced their price objective on CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.40.

CRISPR Therapeutics Stock Down 3.1 %

The business has a fifty day moving average of $42.25 and a 200 day moving average of $46.03. The firm has a market cap of $3.98 billion, a P/E ratio of -10.58 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results 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 return on equity of 18.46% and a negative net margin of 981.54%. On average, sell-side analysts expect that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Ameriflex Group Inc. acquired a new position in shares of CRISPR Therapeutics during the fourth quarter worth about $36,000. Highline Wealth Partners LLC acquired a new position in shares of CRISPR Therapeutics during the fourth quarter worth about $39,000. Western Pacific Wealth Management LP boosted its position in shares of CRISPR Therapeutics by 100.0% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after buying an additional 500 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of CRISPR Therapeutics during the third quarter worth about $40,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of CRISPR Therapeutics during the third quarter worth about $43,000. 69.20% of the stock is owned by institutional investors and hedge funds.

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.