CRISPR Therapeutics AG (NASDAQ:CRSP) Sees Large Increase in Short Interest

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 18,590,000 shares, a growth of 5.7% from the October 15th total of 17,590,000 shares. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is currently 16.0 days.

Insider Buying and Selling

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,089 shares of CRISPR Therapeutics 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 transaction, the general counsel now directly owns 62,597 shares of the company's stock, valued at $2,896,989.16. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samarth Kulkarni sold 30,000 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.62, for a total transaction of $1,668,600.00. Following the completion of the sale, the chief executive officer now directly owns 196,540 shares in the company, valued at $10,931,554.80. This trade represents a 13.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,382 shares of company stock worth $1,917,679. 4.10% of the stock is owned by insiders.

Institutional Trading of CRISPR Therapeutics

Several institutional investors have recently added to or reduced their stakes in CRSP. Global Trust Asset Management LLC grew its position in shares of CRISPR Therapeutics by 150.0% during the second quarter. Global Trust Asset Management LLC now owns 500 shares of the company's stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Larson Financial Group LLC lifted its holdings in CRISPR Therapeutics by 95.5% in the second quarter. Larson Financial Group LLC now owns 565 shares of the company's stock worth $31,000 after purchasing an additional 276 shares during the period. GPS Wealth Strategies Group LLC lifted its holdings in CRISPR Therapeutics by 99.7% in the second quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company's stock worth $33,000 after purchasing an additional 307 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in CRISPR Therapeutics in the second quarter worth about $35,000. Finally, Darwin Wealth Management LLC acquired a new stake in CRISPR Therapeutics in the third quarter worth about $43,000. Institutional investors own 69.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRSP. Royal Bank of Canada reissued a "sector perform" rating and issued a $53.00 price target on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Rodman & Renshaw began coverage on shares of CRISPR Therapeutics in a research note on Friday, August 2nd. They issued a "buy" rating and a $90.00 price target on the stock. Barclays reduced their price target on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 6th. Chardan Capital dropped their price objective on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Finally, Needham & Company LLC restated a "buy" rating and issued a $84.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $74.94.

CRISPR Therapeutics Stock Down 0.5 %

Shares of NASDAQ:CRSP traded down $0.25 during midday trading on Tuesday, reaching $47.05. The company had a trading volume of 833,042 shares, compared to its average volume of 1,480,195. The stock's fifty day moving average price is $47.88 and its 200-day moving average price is $52.02. CRISPR Therapeutics has a one year low of $43.42 and a one year high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.41. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The firm had revenue of $0.60 million during the quarter, compared to analyst estimates of $6.65 million. During the same quarter in the previous year, the firm earned ($1.41) earnings per share. On average, equities research analysts anticipate that CRISPR Therapeutics will post -5.2 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.