CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 3% – What’s Next?

CRISPR Therapeutics AG (NASDAQ:CRSP)’s share price fell 3% on Monday . The company traded as low as $42.78 and last traded at $44.17. 861,832 shares were traded during mid-day trading, a decline of 61% from the average session volume of 2,232,304 shares. The stock had previously closed at $45.53.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group dropped their price target on shares of CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Bank of America cut their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Chardan Capital dropped their price objective on CRISPR Therapeutics from $94.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Truist Financial boosted their target price on CRISPR Therapeutics from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.11.

CRISPR Therapeutics Stock Down 4.8 %

The stock’s fifty day simple moving average is $42.79 and its 200-day simple moving average is $45.74. The company has a market capitalization of $3.72 billion, a PE ratio of -9.92 and a beta of 1.77.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Analysts expect that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In related news, Director John Greene purchased 7,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was bought at an average cost of $44.85 per share, with a total value of $313,950.00. Following the completion of the acquisition, the director now directly owns 7,000 shares in the company, valued at $313,950. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Samarth Kulkarni sold 18,360 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total value of $1,013,472.00. Following the sale, the chief executive officer now directly owns 171,613 shares in the company, valued at approximately $9,473,037.60. The trade was a 9.66 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC lifted its stake in shares of CRISPR Therapeutics by 19.7% during the fourth quarter. ARK Investment Management LLC now owns 8,973,064 shares of the company’s stock valued at $353,180,000 after buying an additional 1,474,439 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of CRISPR Therapeutics by 39.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company’s stock worth $150,029,000 after purchasing an additional 1,074,238 shares during the last quarter. Capital International Investors grew its position in shares of CRISPR Therapeutics by 10.3% in the fourth quarter. Capital International Investors now owns 8,743,523 shares of the company’s stock valued at $344,145,000 after purchasing an additional 816,789 shares during the period. Baker BROS. Advisors LP increased its stake in CRISPR Therapeutics by 743.1% in the third quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company’s stock valued at $39,608,000 after purchasing an additional 743,075 shares during the last quarter. Finally, State Street Corp boosted its stake in CRISPR Therapeutics by 25.0% in the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after buying an additional 599,304 shares during the last quarter. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

About CRISPR Therapeutics

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.