Shares of Crispr Therapeutics AG (NASDAQ:CRSP) dropped 7% on Monday . The stock traded as low as $37.12 and last traded at $37.75. Approximately 584,627 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 729,837 shares. The stock had previously closed at $40.59.
A number of research firms recently weighed in on CRSP. Citigroup cut shares of Crispr Therapeutics from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $28.00 to $21.00 in a research report on Tuesday, January 22nd. Goldman Sachs Group cut shares of Crispr Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $78.00 to $40.00 in a research report on Monday, January 28th. BTIG Research began coverage on shares of Crispr Therapeutics in a research report on Thursday, February 7th. They set a “buy” rating and a $43.00 price objective for the company. BidaskClub cut shares of Crispr Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Finally, William Blair began coverage on shares of Crispr Therapeutics in a research report on Wednesday, March 13th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $47.64.
The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -10.97 and a beta of 3.11. The company has a current ratio of 15.84, a quick ratio of 15.84 and a debt-to-equity ratio of 0.08.
In other Crispr Therapeutics news, CEO Samarth Kulkarni sold 20,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $42.03, for a total transaction of $840,600.00. Following the sale, the chief executive officer now directly owns 186,542 shares in the company, valued at approximately $7,840,360.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Rodger Novak sold 85,220 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $40.40, for a total transaction of $3,442,888.00. Following the sale, the president now owns 1,024,534 shares in the company, valued at $41,391,173.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,693 shares of company stock worth $5,222,495. 37.70% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Versant Venture Management LLC lifted its holdings in Crispr Therapeutics by 17.7% during the 1st quarter. Versant Venture Management LLC now owns 4,248,888 shares of the company’s stock worth $151,770,000 after buying an additional 640,014 shares in the last quarter. ARK Investment Management LLC raised its holdings in shares of Crispr Therapeutics by 52.7% in the 1st quarter. ARK Investment Management LLC now owns 2,023,017 shares of the company’s stock valued at $72,262,000 after purchasing an additional 697,907 shares in the last quarter. Federated Investors Inc. PA raised its holdings in shares of Crispr Therapeutics by 21.0% in the 3rd quarter. Federated Investors Inc. PA now owns 764,263 shares of the company’s stock valued at $33,895,000 after purchasing an additional 132,863 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Crispr Therapeutics by 19.6% in the 3rd quarter. BlackRock Inc. now owns 709,643 shares of the company’s stock valued at $31,471,000 after purchasing an additional 116,116 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of Crispr Therapeutics in the 4th quarter valued at $16,598,000. Institutional investors own 43.85% of the company’s stock.
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About Crispr Therapeutics (NASDAQ:CRSP)
CRISPR Therapeutics AG, a gene editing company, focuses on developing transformative gene-based medicines for the treatment of serious human diseases using its regularly interspaced short palindromic repeats associated protein-9 (CRISPR/Cas9) gene-editing platform in Switzerland. Its lead product candidate is CTX001, an ex vivo CRISPR gene-edited therapy for treating patients suffering from dependent beta thalassemia or severe sickle cell disease in which a patient's hematopoietic stem cells are engineered to produce high levels of fetal hemoglobin in red blood cells.
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