CRISPR Therapeutics (NASDAQ:CRSP) Reaches New 52-Week Low - What's Next?

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) shares hit a new 52-week low during trading on Monday . The stock traded as low as $38.29 and last traded at $38.33, with a volume of 449097 shares traded. The stock had previously closed at $40.02.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $53.00 target price on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. 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. JMP Securities reiterated a "market outperform" rating and set a $86.00 target price on shares of CRISPR Therapeutics in a report on Friday, December 20th. StockNews.com upgraded CRISPR Therapeutics to a "sell" rating in a research note on Monday. Finally, Chardan Capital reiterated a "buy" rating and set a $94.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $77.93.

CRISPR Therapeutics Stock Down 3.4 %

The business has a fifty day moving average price of $47.48 and a 200-day moving average price of $49.76. The company has a market cap of $3.30 billion, a P/E ratio of -13.66 and a beta of 1.62.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $0.60 million during the quarter, compared to analysts' expectations of $6.65 million. During the same quarter in the previous year, the business posted ($1.41) earnings per share. As a group, research analysts expect that CRISPR Therapeutics AG will post -5.13 earnings per share for the current year.

Insider Activity

In related news, General Counsel James R. Kasinger sold 1,089 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $50,398.92. Following the sale, the general counsel now owns 62,597 shares in the company, valued at approximately $2,896,989.16. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Samarth Kulkarni sold 4,293 shares of the business's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $198,680.04. Following the transaction, the chief executive officer now owns 226,540 shares of the company's stock, valued at approximately $10,484,271.20. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,382 shares of company stock worth $2,744,179. Corporate insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Baker BROS. Advisors LP raised its stake in CRISPR Therapeutics by 743.1% during the third quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company's stock worth $39,608,000 after acquiring an additional 743,075 shares in the last quarter. State Street Corp increased its position in CRISPR Therapeutics by 25.0% during the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company's stock worth $140,611,000 after purchasing an additional 599,304 shares in the last quarter. Farallon Capital Management LLC bought a new position in CRISPR Therapeutics in the 2nd quarter valued at approximately $28,625,000. Marshall Wace LLP bought a new stake in shares of CRISPR Therapeutics during the second quarter worth $10,078,000. Finally, Private Advisor Group LLC increased its holdings in shares of CRISPR Therapeutics by 472.9% during the second quarter. Private Advisor Group LLC now owns 77,627 shares of the company's stock worth $4,193,000 after buying an additional 64,076 shares in the last quarter. 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.