CRISPR Therapeutics (NASDAQ:CRSP) Insider Naimish Patel Sells 3,150 Shares of Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) insider Naimish Patel sold 3,150 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $48.26, for a total transaction of $152,019.00. Following the completion of the transaction, the insider owned 13,143 shares in the company, valued at approximately $634,281.18. This trade represents a 19.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ CRSP traded up $1.67 during mid-day trading on Tuesday, hitting $50.09. 1,870,722 shares of the stock were exchanged, compared to its average volume of 1,999,385. CRISPR Therapeutics AG has a twelve month low of $30.04 and a twelve month high of $78.48. The stock’s fifty day simple moving average is $53.96 and its two-hundred day simple moving average is $57.25. The company has a market cap of $4.81 billion, a P/E ratio of -7.68 and a beta of 1.71.

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

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Mcguire Capital Advisors Inc. acquired a new position in shares of CRISPR Therapeutics during the fourth quarter valued at $25,000. Ramirez Asset Management Inc. acquired a new stake in CRISPR Therapeutics in the fourth quarter worth about $26,000. Rothschild Investment LLC increased its position in CRISPR Therapeutics by 836.7% in the fourth quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock worth $29,000 after purchasing an additional 502 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in CRISPR Therapeutics by 196.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company’s stock worth $30,000 after purchasing an additional 382 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new stake in CRISPR Therapeutics during the 3rd quarter worth about $33,000. Institutional investors own 69.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CRSP shares. Citizens Jmp lowered their target price on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a research note on Friday, January 30th. Evercore reiterated an “outperform” rating and set a $74.00 price target on shares of CRISPR Therapeutics in a research report on Friday, February 13th. Chardan Capital increased their price objective on shares of CRISPR Therapeutics from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Saturday, February 14th. Bank of America lowered their price objective on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Finally, Needham & Company LLC boosted their target price on shares of CRISPR Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $64.53.

About CRISPR Therapeutics

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.