CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 1.6% – Here’s What Happened

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) dropped 1.6% during trading on Friday . The stock traded as low as $39.77 and last traded at $39.96. Approximately 641,669 shares changed hands during trading, a decline of 66% from the average daily volume of 1,890,571 shares. The stock had previously closed at $40.61.

Analysts Set New Price Targets

A number of research firms have weighed in on CRSP. Royal Bank of Canada restated a “sector perform” rating and set a $53.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. HC Wainwright assumed coverage on shares of CRISPR Therapeutics in a report on Monday. They issued a “buy” rating and a $65.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and issued a $94.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. JMP Securities reissued a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a report on Friday, December 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.59.

CRISPR Therapeutics Stock Performance

The business’s 50-day moving average price is $42.99 and its 200-day moving average price is $46.78. The stock has a market cap of $3.39 billion, a P/E ratio of -14.03 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.41. The business had revenue of $0.60 million for the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. During the same quarter in the previous year, the firm earned ($1.41) earnings per share. As a group, equities research analysts expect that CRISPR Therapeutics AG will post -5.1 earnings per share for the current year.

Insider Activity at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 30,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.62, for a total transaction of $1,668,600.00. Following the sale, the chief executive officer now owns 196,540 shares in the company, valued at $10,931,554.80. This trade represents a 13.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRSP. Capital Market Strategies LLC bought a new stake in CRISPR Therapeutics in the 4th quarter worth approximately $461,000. KBC Group NV raised its position in CRISPR Therapeutics by 2,047.4% in the 4th quarter. KBC Group NV now owns 60,514 shares of the company’s stock worth $2,382,000 after purchasing an additional 57,696 shares during the period. Capital Advisors Inc. OK lifted its stake in shares of CRISPR Therapeutics by 8.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock worth $14,122,000 after acquiring an additional 22,583 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of CRISPR Therapeutics by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company’s stock valued at $47,383,000 after purchasing an additional 35,196 shares during the period. Finally, State Street Corp boosted its position in CRISPR Therapeutics by 25.0% in the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock valued at $140,611,000 after buying an additional 599,304 shares during the period. Institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.