CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 2.1% After Analyst Downgrade

CRISPR Therapeutics AG (NASDAQ:CRSP) fell 2.1% during mid-day trading on Friday after Wells Fargo & Company lowered their price target on the stock from $70.00 to $65.00. Wells Fargo & Company currently has an equal weight rating on the stock. CRISPR Therapeutics traded as low as $51.93 and last traded at $52.44. 486,925 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 1,745,253 shares. The stock had previously closed at $53.55.

A number of other research analysts also recently issued reports on CRSP. Wolfe Research assumed coverage on shares of CRISPR Therapeutics in a research report on Thursday, February 15th. They set a “peer perform” rating for the company. Citigroup upped their target price on shares of CRISPR Therapeutics from $88.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Royal Bank of Canada lifted their price target on CRISPR Therapeutics from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. Mizuho increased their price target on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, TheStreet upgraded shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CRISPR Therapeutics currently has an average rating of “Hold” and an average target price of $74.43.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,913 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $79.67, for a total transaction of $152,408.71. Following the transaction, the general counsel now owns 57,371 shares of the company’s stock, valued at approximately $4,570,747.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, General Counsel James R. Kasinger sold 1,913 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $79.67, for a total value of $152,408.71. Following the transaction, the general counsel now directly owns 57,371 shares of the company’s stock, valued at $4,570,747.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Samarth Kulkarni sold 20,000 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the completion of the sale, the chief executive officer now directly owns 187,377 shares in the company, valued at approximately $15,057,615.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,992 shares of company stock worth $6,132,335. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jump Financial LLC lifted its position in CRISPR Therapeutics by 194.7% during the third quarter. Jump Financial LLC now owns 33,307 shares of the company’s stock worth $1,512,000 after purchasing an additional 22,006 shares during the period. Invesco Ltd. lifted its stake in CRISPR Therapeutics by 1.5% in the 3rd quarter. Invesco Ltd. now owns 136,123 shares of the company’s stock valued at $6,179,000 after purchasing an additional 2,061 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of CRISPR Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after buying an additional 1,372,986 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of CRISPR Therapeutics during the 4th quarter valued at $206,000. Finally, Baker Chad R increased its stake in CRISPR Therapeutics by 89.1% in the 4th quarter. Baker Chad R now owns 98,520 shares of the company’s stock valued at $6,167,000 after buying an additional 46,420 shares during the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

CRISPR Therapeutics Stock Down 2.1 %

The company has a market capitalization of $4.45 billion, a P/E ratio of -26.76 and a beta of 1.80. The company’s 50-day moving average is $65.19 and its two-hundred day moving average is $64.56.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Wednesday, May 8th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $25.53 million. The firm’s revenue for the quarter was down 99.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.67) EPS. On average, sell-side analysts predict that CRISPR Therapeutics AG will post -6.24 EPS for the current year.

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.