CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 2.9% on Insider Selling

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) were down 2.9% on Thursday after an insider sold shares in the company. The company traded as low as $42.78 and last traded at $42.22. Approximately 282,558 shares traded hands during trading, a decline of 87% from the average daily volume of 2,214,576 shares. The stock had previously closed at $43.49.

Specifically, COO Julianne Bruno sold 1,198 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $50,819.16. Following the completion of the transaction, the chief operating officer now owns 8,263 shares of the company’s stock, valued at $350,516.46. This represents a 12.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 2,850 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total value of $120,897.00. Following the completion of the sale, the general counsel now owns 77,530 shares in the company, valued at $3,288,822.60. This represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 9,973 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $423,054.66. Following the completion of the transaction, the chief executive officer now owns 180,890 shares in the company, valued at $7,673,353.80. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

CRSP has been the subject of a number of recent research reports. JMP Securities reissued a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a report on Thursday, February 13th. Bank of America decreased their price objective on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley lifted their target price on CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, February 14th. The Goldman Sachs Group decreased their price target on CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, TD Cowen upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.11.

CRISPR Therapeutics Stock Down 2.7 %

The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -9.66 and a beta of 1.77. The business has a 50-day moving average price of $43.02 and a 200-day moving average price of $45.65.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. On average, equities research analysts forecast that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds have recently made changes to their positions in CRSP. Wood Tarver Financial Group LLC purchased a new position in shares of CRISPR Therapeutics in the fourth quarter worth about $30,000. Wilmington Savings Fund Society FSB purchased a new position in CRISPR Therapeutics during the 3rd quarter worth approximately $40,000. Ameriflex Group Inc. acquired a new stake in CRISPR Therapeutics during the 4th quarter valued at approximately $36,000. Darwin Wealth Management LLC purchased a new stake in shares of CRISPR Therapeutics in the 3rd quarter valued at $43,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of CRISPR Therapeutics in the fourth quarter worth $39,000. 69.20% of the stock is owned by institutional investors and hedge funds.

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.