CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 4.1% - Here's Why

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) traded down 4.1% during mid-day trading on Thursday . The stock traded as low as $49.22 and last traded at $50.86. 1,325,701 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 2,376,089 shares. The stock had previously closed at $53.02.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reiterated a "neutral" rating on shares of CRISPR Therapeutics in a research note on Wednesday. Citigroup reduced their price objective on CRISPR Therapeutics from $89.00 to $82.00 and set a "buy" rating for the company in a research report on Tuesday. Evercore ISI raised CRISPR Therapeutics from an "in-line" rating to an "outperform" rating and increased their target price for the company from $60.00 to $99.00 in a report on Friday, February 14th. Morgan Stanley upped their price target on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the company an "underweight" rating in a research report on Friday, February 14th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $74.40.

CRISPR Therapeutics Stock Down 5.0 %

The business has a 50 day moving average price of $42.25 and a two-hundred day moving average price of $46.06. The stock has a market cap of $4.11 billion, a P/E ratio of -10.96 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. On average, research analysts forecast that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 18,360 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total transaction of $1,013,472.00. Following the completion of the transaction, the chief executive officer now owns 171,613 shares of the company's stock, valued at $9,473,037.60. This represents a 9.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in CRISPR Therapeutics during the 3rd quarter valued at approximately $40,000. Darwin Wealth Management LLC purchased a new stake in shares of CRISPR Therapeutics during the 3rd quarter worth approximately $43,000. Highline Wealth Partners LLC bought a new position in shares of CRISPR Therapeutics during the 4th quarter valued at approximately $39,000. Western Pacific Wealth Management LP grew its holdings in shares of CRISPR Therapeutics by 100.0% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company's stock valued at $39,000 after purchasing an additional 500 shares in the last quarter. Finally, Eastern Bank bought a new stake in CRISPR Therapeutics in the third quarter worth $70,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Company Profile

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.