CRISPR Therapeutics AG (NASDAQ:CRSP – Get Free Report)’s stock price was down 3.1% during trading on Thursday after Citigroup lowered their price target on the stock from $89.00 to $84.00. Citigroup currently has a buy rating on the stock. CRISPR Therapeutics traded as low as $54.32 and last traded at $55.06. Approximately 521,944 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,717,410 shares. The stock had previously closed at $56.80.
Several other research analysts have also recently weighed in on CRSP. Wells Fargo & Company dropped their price target on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Oppenheimer lowered their target price on shares of CRISPR Therapeutics from $102.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. TheStreet upgraded shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a research note on Friday, February 23rd. Robert W. Baird lifted their target price on shares of CRISPR Therapeutics from $46.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, Royal Bank of Canada lifted their target price on shares of CRISPR Therapeutics from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.57.
Insider Transactions at CRISPR Therapeutics
In related news, CEO Samarth Kulkarni sold 19,582 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were 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 directly owns 208,122 shares in the company, valued at approximately $12,468,589.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Raju Prasad sold 3,524 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $72.69, for a total transaction of $256,159.56. Following the transaction, the chief financial officer now directly owns 6,476 shares of the company’s stock, valued at $470,740.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Samarth Kulkarni sold 19,582 shares of the firm’s 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 directly owns 208,122 shares in the company, valued at $12,468,589.02. The disclosure for this sale can be found here. Insiders have sold a total of 55,709 shares of company stock worth $3,865,228 in the last three months. Insiders own 4.10% of the company’s stock.
Hedge Funds Weigh In On CRISPR Therapeutics
Institutional investors have recently modified their holdings of the stock. Riggs Asset Managment Co. Inc. boosted its stake in shares of CRISPR Therapeutics by 66.7% during the first quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. Blue Trust Inc. bought a new position in shares of CRISPR Therapeutics during the fourth quarter valued at approximately $32,000. Bourgeon Capital Management LLC boosted its stake in shares of CRISPR Therapeutics by 1,000.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. NBC Securities Inc. boosted its stake in CRISPR Therapeutics by 257.6% in the first quarter. NBC Securities Inc. now owns 608 shares of the company’s stock valued at $41,000 after acquiring an additional 438 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $41,000. 69.20% of the stock is owned by hedge funds and other institutional investors.
CRISPR Therapeutics Stock Down 1.9 %
The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of -20.49 and a beta of 1.80. The company’s 50 day simple moving average is $60.59 and its two-hundred day simple moving average is $65.51.
CRISPR Therapeutics (NASDAQ:CRSP – Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The business had revenue of $0.50 million for the quarter, compared to the consensus estimate of $25.53 million. The firm’s quarterly revenue was down 99.5% compared to the same quarter last year. During the same period last year, the business posted ($0.67) EPS. Analysts anticipate that CRISPR Therapeutics AG will post -5.64 EPS for the current year.
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.