CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 4% - Time to Sell?

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s stock price dropped 4% on Tuesday . The company traded as low as $47.65 and last traded at $48.57. Approximately 179,809 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,442,651 shares. The stock had previously closed at $50.59.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CRSP. Chardan Capital decreased their target price on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC dropped their target price on CRISPR Therapeutics from $88.00 to $84.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Cantor Fitzgerald reissued a "neutral" rating on shares of CRISPR Therapeutics in a research note on Thursday, August 8th. Stifel Nicolaus dropped their price objective on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a "hold" rating for the company in a research note on Tuesday, August 6th. Finally, StockNews.com raised shares of CRISPR Therapeutics to a "sell" rating in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $75.19.

CRISPR Therapeutics Stock Performance

The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of -15.59 and a beta of 1.67. The stock's fifty day moving average is $47.22 and its two-hundred day moving average is $52.25.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its earnings results on Monday, August 5th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The firm had revenue of $0.52 million during the quarter, compared to the consensus estimate of $12.31 million. CRISPR Therapeutics's quarterly revenue was down 99.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.98) EPS. Sell-side analysts anticipate that CRISPR Therapeutics AG will post -5.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Samarth Kulkarni sold 4,293 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $198,680.04. Following the sale, the chief executive officer now directly owns 226,540 shares of the company's stock, valued at $10,484,271.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Samarth Kulkarni sold 4,293 shares of the business's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $198,680.04. Following the completion of the sale, the chief executive officer now directly owns 226,540 shares of the company's stock, valued at $10,484,271.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel James R. Kasinger sold 1,089 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following the transaction, the general counsel now directly owns 62,597 shares in the company, valued at approximately $2,896,989.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Institutional Trading of CRISPR Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Aigen Investment Management LP acquired a new stake in shares of CRISPR Therapeutics during the 3rd quarter worth approximately $298,000. State of New Jersey Common Pension Fund D lifted its stake in CRISPR Therapeutics by 16.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 40,341 shares of the company's stock valued at $1,895,000 after buying an additional 5,803 shares during the last quarter. Axxcess Wealth Management LLC grew its position in shares of CRISPR Therapeutics by 3.3% during the third quarter. Axxcess Wealth Management LLC now owns 10,271 shares of the company's stock worth $483,000 after acquiring an additional 330 shares during the last quarter. Privium Fund Management B.V. increased its holdings in shares of CRISPR Therapeutics by 11.0% in the 3rd quarter. Privium Fund Management B.V. now owns 30,347 shares of the company's stock worth $1,426,000 after acquiring an additional 3,000 shares during the period. Finally, Capital Advisors Inc. OK boosted its stake in CRISPR Therapeutics by 8.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company's stock valued at $14,122,000 after purchasing an additional 22,583 shares during the period. 69.20% of the stock is owned by institutional investors and hedge funds.

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.