CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 2% – Should You Sell?

CRISPR Therapeutics AG (NASDAQ:CRSP) dropped 2% during mid-day trading on Monday . The stock traded as low as $39.21 and last traded at $40.76. Approximately 986,062 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 1,921,468 shares. The stock had previously closed at $41.59.

Wall Street Analysts Forecast Growth

CRSP has been the subject of several recent research reports. HC Wainwright initiated coverage on shares of CRISPR Therapeutics in a research report on Monday. They issued a “buy” rating and a $65.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $53.00 price objective on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research report on Monday, December 30th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, January 14th. Finally, Bank of America decreased their price objective on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. 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 company’s stock. According to MarketBeat, CRISPR Therapeutics has a consensus rating of “Hold” and an average price target of $77.59.

CRISPR Therapeutics Stock Down 3.8 %

The business’s 50-day moving average is $43.76 and its two-hundred day moving average is $47.07. The company has a market capitalization of $3.41 billion, a P/E ratio of -14.13 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. The company had revenue of $0.60 million for the quarter, compared to analyst estimates 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 period last year, the firm earned ($1.41) earnings per share. Analysts predict that CRISPR Therapeutics AG will post -5.1 EPS for the current year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 30,000 shares of the stock in a transaction dated Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $10,931,554.80. This represents a 13.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Highline Wealth Partners LLC bought a new position in shares of CRISPR Therapeutics during the 4th quarter valued at about $39,000. Western Pacific Wealth Management LP grew its position in CRISPR Therapeutics by 100.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after acquiring an additional 500 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in CRISPR Therapeutics during the 3rd quarter worth approximately $40,000. Darwin Wealth Management LLC bought a new position in CRISPR Therapeutics during the 3rd quarter worth approximately $43,000. Finally, Eastern Bank bought a new position in CRISPR Therapeutics during the 3rd quarter worth approximately $70,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

About CRISPR Therapeutics

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.