CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 1.8%

CRISPR Therapeutics AG (NASDAQ:CRSP) dropped 1.8% during mid-day trading on Wednesday . The company traded as low as $56.75 and last traded at $56.90. Approximately 296,744 shares changed hands during trading, a decline of 84% from the average daily volume of 1,831,639 shares. The stock had previously closed at $57.96.

Wall Street Analysts Forecast Growth

CRSP has been the subject of a number of research analyst reports. Morgan Stanley raised their price objective on shares of CRISPR Therapeutics from $46.00 to $48.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. TheStreet raised shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a research note on Friday, February 23rd. Wells Fargo & Company lifted their price target on shares of CRISPR Therapeutics from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Barclays lifted their target price on shares of CRISPR Therapeutics from $61.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada lifted their target price on shares of CRISPR Therapeutics from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.93.

CRISPR Therapeutics Stock Down 2.4 %

The firm has a market cap of $4.80 billion, a P/E ratio of -28.88 and a beta of 1.76. The firm’s fifty day moving average is $73.89 and its two-hundred day moving average is $63.30.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Wednesday, February 21st. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.95. The company had revenue of $201.20 million during the quarter, compared to the consensus estimate of $148.72 million. During the same quarter last year, the firm earned ($1.41) EPS. The business’s revenue was up 3253.3% on a year-over-year basis. As a group, sell-side analysts forecast that CRISPR Therapeutics AG will post -6.24 EPS for the current year.

Insider Activity

In other news, CEO Samarth Kulkarni sold 50,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $60.51, for a total transaction of $3,025,500.00. Following the sale, the chief executive officer now owns 187,377 shares in the company, valued at approximately $11,338,182.27. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Raju Prasad sold 3,524 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 6,476 shares in the company, valued at approximately $470,740.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Samarth Kulkarni sold 50,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $60.51, for a total transaction of $3,025,500.00. Following the sale, the chief executive officer now owns 187,377 shares in the company, valued at approximately $11,338,182.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,410 shares of company stock worth $7,984,677. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds have recently bought and sold shares of CRSP. Fairfield Bush & CO. bought a new position in CRISPR Therapeutics in the 1st quarter worth about $90,000. Bank of New York Mellon Corp boosted its stake in CRISPR Therapeutics by 40.7% in the 1st quarter. Bank of New York Mellon Corp now owns 91,062 shares of the company’s stock worth $5,716,000 after purchasing an additional 26,358 shares in the last quarter. US Bancorp DE raised its position in CRISPR Therapeutics by 10.0% in the 1st quarter. US Bancorp DE now owns 9,526 shares of the company’s stock worth $598,000 after buying an additional 866 shares during the last quarter. BlackRock Inc. raised its position in CRISPR Therapeutics by 79.2% in the 1st quarter. BlackRock Inc. now owns 2,278,774 shares of the company’s stock worth $143,038,000 after buying an additional 1,007,246 shares during the last quarter. Finally, Cibc World Market Inc. raised its position in CRISPR Therapeutics by 49.3% in the 1st quarter. Cibc World Market Inc. now owns 8,354 shares of the company’s stock worth $524,000 after buying an additional 2,760 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

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.