CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 0.6%

CRISPR Therapeutics AG (NASDAQ:CRSP) shares were down 0.6% on Wednesday . The company traded as low as $55.23 and last traded at $55.64. Approximately 176,982 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,649,650 shares. The stock had previously closed at $55.95.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company cut their price objective on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Citigroup decreased their target price on shares of CRISPR Therapeutics from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. JMP Securities reiterated a “market outperform” rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $88.00 price target on shares of CRISPR Therapeutics in a research report on Monday, June 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of CRISPR Therapeutics in a research note on Thursday, May 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $75.71.

CRISPR Therapeutics Stock Down 0.6 %

The business has a fifty day simple moving average of $56.74 and a 200 day simple moving average of $64.63.

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

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics 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 completion of the sale, the chief executive officer now directly owns 208,122 shares in the company, valued at $12,468,589.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Samarth Kulkarni sold 19,582 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 208,122 shares in the company, valued at $12,468,589.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Julianne Bruno sold 3,366 shares of CRISPR Therapeutics stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $56.09, for a total transaction of $188,798.94. Following the completion of the transaction, the chief operating officer now owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Institutional Trading of CRISPR Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Congress Asset Management Co. MA increased its position 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 purchasing an additional 24,303 shares during the period. PBCay One RSC Ltd bought a new stake in shares of CRISPR Therapeutics during the fourth quarter valued at approximately $10,329,000. Invesco Ltd. boosted its stake in shares of 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 raised its holdings in CRISPR Therapeutics by 19.2% in the 4th quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock valued at $534,360,000 after acquiring an additional 1,372,986 shares during the period. Finally, Norges Bank acquired a new stake in shares of CRISPR Therapeutics during the 4th quarter worth approximately $38,661,000. 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.