CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 1.6% - Here's Why

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) dropped 1.6% during mid-day trading on Friday . The stock traded as low as $39.77 and last traded at $39.96. Approximately 641,669 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,890,571 shares. The stock had previously closed at $40.61.

Analysts Set New Price Targets

CRSP has been the topic of several research reports. Bank of America reduced their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. HC Wainwright began coverage on CRISPR Therapeutics in a research report on Monday, February 3rd. They issued a "buy" rating and a $65.00 price target for the company. JMP Securities reiterated a "market outperform" rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research report on Friday, December 20th. StockNews.com upgraded CRISPR Therapeutics to a "sell" rating in a research report on Monday, December 30th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $77.59.

CRISPR Therapeutics Price Performance

The stock has a market cap of $3.36 billion, a PE ratio of -13.93 and a beta of 1.67. The business has a fifty day moving average of $42.77 and a 200-day moving average of $46.53.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 15,000 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $55.10, for a total value of $826,500.00. Following the completion of the transaction, the chief executive officer now owns 181,540 shares of the company's stock, valued at $10,002,854. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of large investors have recently bought and sold shares of the business. Horizon Kinetics Asset Management LLC raised its stake in CRISPR Therapeutics by 4.3% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 10,682 shares of the company's stock worth $420,000 after buying an additional 443 shares in the last quarter. Alpine Woods Capital Investors LLC raised its stake in CRISPR Therapeutics by 21.9% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 6,985 shares of the company's stock worth $275,000 after buying an additional 1,255 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in CRISPR Therapeutics by 3.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 68,614 shares of the company's stock worth $2,701,000 after buying an additional 2,206 shares in the last quarter. Swiss National Bank increased its position in shares of CRISPR Therapeutics by 1.0% during the fourth quarter. Swiss National Bank now owns 159,100 shares of the company's stock worth $6,262,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new position in shares of CRISPR Therapeutics during the fourth quarter worth $269,000. 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.