Insider Selling: CRISPR Therapeutics (NASDAQ:CRSP) General Counsel Sells $626,496.00 in Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) General Counsel James Kasinger sold 10,400 shares of CRISPR Therapeutics stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $60.24, for a total value of $626,496.00. Following the sale, the general counsel directly owned 94,784 shares in the company, valued at $5,709,788.16. This trade represents a 9.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

CRISPR Therapeutics Price Performance

CRSP stock traded down $0.06 during midday trading on Thursday, hitting $55.70. The company’s stock had a trading volume of 1,554,919 shares, compared to its average volume of 1,765,372. The company has a quick ratio of 17.85, a current ratio of 17.85 and a debt-to-equity ratio of 0.34. CRISPR Therapeutics AG has a 12 month low of $44.12 and a 12 month high of $78.48. The company has a 50 day moving average of $53.49 and a two-hundred day moving average of $52.76. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of -11.70 and a beta of 1.76.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share for the quarter. The company had revenue of $10.18 million for the quarter. CRISPR Therapeutics had a negative return on equity of 24.39% and a negative net margin of 3,368.72%. On average, analysts expect that CRISPR Therapeutics AG will post -4.47 EPS for the current year.

Hedge Funds Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP purchased a new stake in shares of CRISPR Therapeutics during the 2nd quarter valued at about $585,000. NewEdge Advisors LLC lifted its holdings in shares of CRISPR Therapeutics by 131.3% in the 2nd quarter. NewEdge Advisors LLC now owns 8,217 shares of the company’s stock valued at $448,000 after acquiring an additional 4,664 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in CRISPR Therapeutics in the second quarter worth about $970,000. Ameritas Advisory Services LLC purchased a new position in CRISPR Therapeutics in the second quarter worth about $56,000. Finally, HB Wealth Management LLC bought a new stake in CRISPR Therapeutics during the second quarter worth approximately $289,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRSP has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Friday, July 17th. Wall Street Zen raised CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, August 6th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $67.94.

About CRISPR Therapeutics

CRISPR Therapeutics AG (NASDAQ: CRSP) is a biotechnology company focused on developing gene-editing medicines using CRISPR/Cas9 technology. The company’s programs are designed to modify disease-associated genes in human cells, with the goal of treating serious conditions across hematology, oncology, autoimmune disease and regenerative medicine.

Its most advanced product is Casgevy (exa-cel), an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals. Casgevy uses CRISPR/Cas9 gene editing to modify a patient’s blood stem cells and is approved in several markets for eligible patients with sickle cell disease and transfusion-dependent beta thalassemia.