CRISPR Therapeutics (NASDAQ:CRSP) Sets New 52-Week Low – Here’s Why

CRISPR Therapeutics AG (NASDAQ:CRSP) reached a new 52-week low on Thursday. The stock traded as low as $43.30 and last traded at $43.9250, with a volume of 250,136 shares. The stock had previously closed at $45.75.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRSP. Wells Fargo & Company reduced their target price on CRISPR Therapeutics from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, November 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Thursday, October 15th. Citigroup lifted their price target on CRISPR Therapeutics from $88.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. William Blair raised CRISPR Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 23rd. Finally, Wall Street Zen raised CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, CRISPR Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $72.93.

CRISPR Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 16.21 and a quick ratio of 16.21. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -9.26 and a beta of 1.92. The firm’s fifty day moving average is $52.66 and its 200 day moving average is $52.66.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Monday, November 2nd. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.09). The company had revenue of $12.67 million for the quarter, compared to analysts’ expectations of $14.75 million. CRISPR Therapeutics had a negative net margin of 1,812.07% and a negative return on equity of 25.59%. The firm’s revenue was up 1311.1% compared to the same quarter last year. On average, analysts predict that CRISPR Therapeutics AG will post -4.54 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,040 shares of CRISPR Therapeutics stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $49.26, for a total transaction of $51,230.40. Following the completion of the sale, the general counsel owned 95,857 shares of the company’s stock, valued at $4,721,915.82. This trade represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Samarth Kulkarni sold 47,837 shares of the business’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of $49.78, for a total transaction of $2,381,325.86. Following the transaction, the chief executive officer owned 311,899 shares in the company, valued at approximately $15,526,332.22. This represents a 13.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 93,558 shares of company stock worth $4,881,663. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CRSP. Quantinno Capital Management LP increased its position in CRISPR Therapeutics by 613.5% in the 1st 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. KBC Group NV raised its stake in shares of CRISPR Therapeutics by 3,999.9% during the 1st quarter. KBC Group NV now owns 116,847 shares of the company’s stock worth $5,558,000 after purchasing an additional 113,997 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of CRISPR Therapeutics during the 2nd quarter worth about $1,127,000. Shah Wealth Advisors LLC purchased a new stake in shares of CRISPR Therapeutics during the 2nd quarter worth about $3,767,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of CRISPR Therapeutics by 56.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 89,683 shares of the company’s stock worth $4,266,000 after purchasing an additional 32,218 shares in the last quarter. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biotechnology company focused on developing gene-based medicines using CRISPR/Cas9, a gene-editing technology that can make targeted changes to DNA. Founded in 2013, the company is headquartered in Zug, Switzerland, and maintains U.S. operations in Cambridge, Massachusetts. Its lead product, Casgevy (exa-cel), was developed with Vertex Pharmaceuticals for people with sickle cell disease and transfusion-dependent beta thalassemia. It was the first therapy based on CRISPR gene editing to receive regulatory approval.