CRISPR Therapeutics (NASDAQ:CRSP) CEO Sells $499,442.74 in Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) CEO Samarth Kulkarni sold 10,349 shares of CRISPR Therapeutics stock in a transaction on Monday, March 16th. The stock was sold at an average price of $48.26, for a total transaction of $499,442.74. Following the completion of the transaction, the chief executive officer directly owned 245,834 shares in the company, valued at approximately $11,863,948.84. The trade was a 4.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Samarth Kulkarni also recently made the following trade(s):

• On Wednesday, March 11th, Samarth Kulkarni sold 9,798 shares of CRISPR Therapeutics stock. The shares were sold at an average price of $52.80, for a total transaction of $517,334.40.
• On Thursday, February 19th, Samarth Kulkarni sold 6,967 shares of CRISPR Therapeutics stock. The stock was sold at an average price of $52.58, for a total transaction of $366,324.86.
• On Tuesday, January 20th, Samarth Kulkarni sold 30,000 shares of CRISPR Therapeutics stock. The stock was sold at an average price of $51.75, for a total transaction of $1,552,500.00.
• On Thursday, January 22nd, Samarth Kulkarni sold 60,000 shares of CRISPR Therapeutics stock. The shares were sold at an average price of $60.23, for a total transaction of $3,613,800.00.

CRISPR Therapeutics Trading Down 1.5%

Shares of NASDAQ:CRSP opened at $46.98 on Friday. The company has a 50-day moving average price of $53.41 and a 200-day moving average price of $57.10. The company has a market cap of $4.51 billion, a price-to-earnings ratio of -7.21 and a beta of 1.72. CRISPR Therapeutics AG has a 12 month low of $30.04 and a 12 month high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Thursday, February 12th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.15) by ($0.22). CRISPR Therapeutics had a negative return on equity of 26.31% and a negative net margin of 16,569.77%.The business had revenue of $0.86 million during the quarter, compared to the consensus estimate of $4.72 million. During the same period in the previous year, the business earned ($1.01) earnings per share. The firm’s revenue for the quarter was down 97.8% compared to the same quarter last year. As a group, research analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRSP has been the topic of several research analyst reports. Needham & Company LLC boosted their target price on CRISPR Therapeutics from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Chardan Capital raised their price target on CRISPR Therapeutics from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Saturday, February 14th. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up from $105.00) on shares of CRISPR Therapeutics in a research report on Tuesday. Morgan Stanley restated an “underweight” rating and issued a $33.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, February 17th. Finally, Citigroup reaffirmed a “buy” rating on shares of CRISPR Therapeutics in a research report on Monday, February 16th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $64.53.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in CRISPR Therapeutics by 28.2% in the first quarter. Royal Bank of Canada now owns 142,696 shares of the company’s stock worth $4,856,000 after purchasing an additional 31,392 shares during the period. AQR Capital Management LLC purchased a new position in shares of CRISPR Therapeutics during the first quarter valued at approximately $861,000. Woodline Partners LP lifted its holdings in shares of CRISPR Therapeutics by 34.3% during the first quarter. Woodline Partners LP now owns 136,483 shares of the company’s stock valued at $4,645,000 after purchasing an additional 34,883 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of CRISPR Therapeutics by 288.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 301,959 shares of the company’s stock worth $14,687,000 after purchasing an additional 224,257 shares in the last quarter. Finally, Prospera Financial Services Inc purchased a new stake in shares of CRISPR Therapeutics in the 2nd quarter worth approximately $297,000. Institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.