CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 0.9% on Insider Selling

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price fell 0.9% on Tuesday following insider selling activity. The stock traded as low as $47.20 and last traded at $47.40. 219,400 shares changed hands during trading, a decline of 85% from the average session volume of 1,457,765 shares. The stock had previously closed at $47.83.

Specifically, CEO Samarth Kulkarni sold 4,293 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $198,680.04. Following the completion of the sale, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at approximately $10,484,271.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel James R. Kasinger sold 1,089 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the transaction, the general counsel now directly owns 62,597 shares in the company, valued at $2,896,989.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CRSP shares. Royal Bank of Canada lowered their price target on CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a research note on Thursday, August 8th. StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a research note on Friday, August 16th. Stifel Nicolaus cut their target price on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Finally, Guggenheim reissued a “neutral” rating on shares of CRISPR Therapeutics in a research report on Friday, June 28th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $75.19.

CRISPR Therapeutics Stock Down 1.4 %

The stock has a fifty day moving average of $47.14 and a 200-day moving average of $53.59. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -18.01 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Monday, August 5th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The firm had revenue of $0.52 million for the quarter, compared to analyst estimates of $12.31 million. The company’s quarterly revenue was down 99.3% on a year-over-year basis. During the same period last year, the firm posted ($0.98) EPS. On average, equities analysts forecast that CRISPR Therapeutics AG will post -5.6 EPS for the current fiscal year.

Hedge Funds Weigh In On CRISPR Therapeutics

Several large investors have recently bought and sold shares of CRSP. Nordea Investment Management AB lifted its holdings in shares of CRISPR Therapeutics by 40.8% in the 1st quarter. Nordea Investment Management AB now owns 148,700 shares of the company’s stock valued at $10,305,000 after purchasing an additional 43,100 shares during the last quarter. Congress Asset Management Co. MA boosted its holdings in shares of CRISPR Therapeutics by 60.3% in the first quarter. Congress Asset Management Co. MA now owns 64,605 shares of the company’s stock valued at $4,403,000 after acquiring an additional 24,303 shares during the period. Cetera Investment Advisers grew its position in shares of CRISPR Therapeutics by 451.3% during the first quarter. Cetera Investment Advisers now owns 34,100 shares of the company’s stock worth $2,324,000 after acquiring an additional 27,915 shares during the last quarter. CWM LLC increased its holdings in shares of CRISPR Therapeutics by 11,871.1% in the 2nd quarter. CWM LLC now owns 22,386 shares of the company’s stock valued at $1,209,000 after acquiring an additional 22,199 shares during the period. Finally, Granite Bay Wealth Management LLC purchased a new stake in CRISPR Therapeutics in the 2nd quarter valued at $2,375,000. Institutional investors and hedge funds 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.