CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 1.6%

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price fell 1.6% during mid-day trading on Friday . The company traded as low as $54.21 and last traded at $54.49. 299,571 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 1,642,465 shares. The stock had previously closed at $55.38.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRSP. Mizuho upped their price target on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Robert W. Baird raised their target price on CRISPR Therapeutics from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. JMP Securities reiterated a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a report on Thursday, May 9th. Guggenheim restated a “neutral” rating on shares of CRISPR Therapeutics in a research note on Friday. Finally, Citigroup decreased their price target on shares of CRISPR Therapeutics from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.71.

CRISPR Therapeutics Trading Down 3.0 %

The company has a 50 day moving average of $56.74 and a 200 day moving average of $64.51. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of -20.03 and a beta of 1.78.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Wednesday, May 8th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $25.53 million. The business’s quarterly revenue was down 99.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.67) EPS. As a group, sell-side analysts anticipate that CRISPR Therapeutics AG will post -5.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Julianne Bruno sold 3,366 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the transaction, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Julianne Bruno sold 3,366 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the sale, the chief operating officer now directly owns 6,745 shares in the company, valued at $378,327.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Samarth Kulkarni sold 19,582 shares of CRISPR Therapeutics stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $59.91, for a total value of $1,173,157.62. Following the completion of the transaction, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at $12,468,589.02. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Large investors have recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. raised its holdings in CRISPR Therapeutics by 66.7% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. Blue Trust Inc. bought a new position in CRISPR Therapeutics in the fourth quarter valued at approximately $32,000. Bourgeon Capital Management LLC grew its holdings in CRISPR Therapeutics by 1,000.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the period. NBC Securities Inc. raised its position in shares of CRISPR Therapeutics by 257.6% during the 1st quarter. NBC Securities Inc. now owns 608 shares of the company’s stock valued at $41,000 after acquiring an additional 438 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of CRISPR Therapeutics in the 4th quarter valued at $41,000. Institutional investors and hedge funds 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.