CRISPR Therapeutics (NASDAQ:CRSP) CEO Samarth Kulkarni Sells 47,837 Shares of Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) CEO Samarth Kulkarni sold 47,837 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $49.78, for a total transaction of $2,381,325.86. Following the completion of the transaction, the chief executive officer owned 311,899 shares of the company’s stock, valued at $15,526,332.22. This represents a 13.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, October 14th, Samarth Kulkarni sold 4,098 shares of CRISPR Therapeutics stock. The stock was sold at an average price of $49.26, for a total transaction of $201,867.48.

CRISPR Therapeutics Trading Down 0.3%

Shares of NASDAQ:CRSP opened at $49.88 on Wednesday. CRISPR Therapeutics AG has a 52 week low of $44.12 and a 52 week high of $75.06. The company’s 50 day moving average is $54.84 and its two-hundred day moving average is $53.30. The company has a current ratio of 17.85, a quick ratio of 17.85 and a debt-to-equity ratio of 0.34. The company has a market cap of $4.82 billion, a PE ratio of -10.48 and a beta of 1.76.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($0.94) earnings per share for the quarter. The firm had revenue of $10.18 million during the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. Equities analysts predict that CRISPR Therapeutics AG will post -4.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. William Blair upgraded CRISPR Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price target on shares of CRISPR Therapeutics in a report on Monday, August 31st. HC Wainwright reaffirmed a “buy” rating on shares of CRISPR Therapeutics in a report on Friday, October 9th. Citigroup reaffirmed a “market outperform” rating on shares of CRISPR Therapeutics in a research report on Monday, September 28th. Finally, UBS Group initiated coverage on CRISPR Therapeutics in a report on Thursday, October 15th. They issued a “neutral” rating and a $52.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.75.

Institutional Trading of CRISPR Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC acquired a new stake in CRISPR Therapeutics during the 1st quarter worth $7,136,000. KBC Group NV lifted its position in CRISPR Therapeutics by 3,999.9% in the first quarter. KBC Group NV now owns 116,847 shares of the company’s stock valued at $5,558,000 after acquiring an additional 113,997 shares during the last quarter. Shah Wealth Advisors LLC acquired a new position in CRISPR Therapeutics in the second quarter valued at $3,767,000. Monashee Investment Management LLC acquired a new position in CRISPR Therapeutics in the first quarter valued at $2,378,000. Finally, Quantinno Capital Management LP grew its holdings in shares of CRISPR Therapeutics by 613.5% during the first quarter. Quantinno Capital Management LP now owns 47,989 shares of the company’s stock worth $2,283,000 after purchasing an additional 41,263 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

About CRISPR Therapeutics

CRISPR Therapeutics AG (NASDAQ: CRSP) is a biotechnology company focused on developing transformative gene-based medicines using CRISPR/Cas9 gene-editing technology. The company’s research programs are designed to address genetic diseases by precisely modifying DNA in cells, with applications across hematology, immunology, oncology, regenerative medicine and cardiovascular disease.

Its lead commercial product is CASGEVY, an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals.