CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 3.1% on Disappointing Earnings

CRISPR Therapeutics AG (NASDAQ:CRSP) shares dropped 3.1% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $53.25 and last traded at $53.81. Approximately 398,715 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,747,559 shares. The stock had previously closed at $55.53.

The company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The firm 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 period in the previous year, the business posted ($0.67) EPS.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CRSP shares. Morgan Stanley raised their price target on shares of CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a report on Thursday. Needham & Company LLC decreased their price objective on shares of CRISPR Therapeutics from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday. Robert W. Baird increased their price target on CRISPR Therapeutics from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Mizuho raised their target price on CRISPR Therapeutics from $82.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, CRISPR Therapeutics has an average rating of “Hold” and a consensus price target of $74.43.

Insider Buying and Selling at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the sale, the chief executive officer now owns 187,377 shares in the company, valued at approximately $15,057,615.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, General Counsel James R. Kasinger sold 1,913 shares of CRISPR Therapeutics 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 owns 57,371 shares in the company, valued at approximately $4,570,747.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Samarth Kulkarni sold 20,000 shares of CRISPR Therapeutics stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the transaction, the chief executive officer now owns 187,377 shares in the company, valued at approximately $15,057,615.72. The disclosure for this sale can be found here. Insiders sold a total of 83,992 shares of company stock worth $6,132,335 over the last three months. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Large investors have recently bought and sold shares of the stock. Riggs Asset Managment Co. Inc. lifted its holdings in CRISPR Therapeutics by 66.7% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock worth $34,000 after buying an additional 200 shares during the period. Blue Trust Inc. bought a new stake in CRISPR Therapeutics in the fourth quarter valued at $32,000. Bourgeon Capital Management LLC increased its position in CRISPR Therapeutics by 1,000.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the period. NBC Securities Inc. raised its holdings in CRISPR Therapeutics by 257.6% in the 1st quarter. NBC Securities Inc. now owns 608 shares of the company’s stock worth $41,000 after purchasing an additional 438 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of CRISPR Therapeutics during the 4th quarter valued at about $41,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Stock Up 1.5 %

The firm’s 50-day moving average is $65.19 and its 200-day moving average is $64.56. The company has a market cap of $4.61 billion, a PE ratio of -27.32 and a beta of 1.80.

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.