CRISPR Therapeutics (NASDAQ:CRSP) CEO Samarth Kulkarni Sells 30,000 Shares of Stock

Key Points

• CRISPR CEO Samarth Kulkarni sold a total of 90,000 shares—30,000 on Jan. 20 at $51.75 ($1.5525M) and 60,000 on Jan. 22 at $60.23 ($3.6138M)—for roughly $5.166M in proceeds, with the Jan. 20 sale disclosed in an SEC filing.
• After the Jan. 20 sale he directly held 194,201 shares (a 13.38% drop from prior holdings) while CRISPR stock trades around $60.66, the company has negative earnings, a market cap of about $5.78B, and an analyst consensus of "Hold" with an average target of $68.35.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) CEO Samarth Kulkarni sold 30,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $51.75, for a total value of $1,552,500.00. Following the completion of the sale, the chief executive officer directly owned 194,201 shares of the company's stock, valued at approximately $10,049,901.75. This trade represents a 13.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Samarth Kulkarni also recently made the following trade(s):

• On Thursday, January 22nd, Samarth Kulkarni sold 60,000 shares of CRISPR Therapeutics stock. The stock was sold at an average price of $60.23, for a total transaction of $3,613,800.00.

CRISPR Therapeutics Price Performance

Shares of NASDAQ CRSP traded up $5.93 during midday trading on Thursday, reaching $60.66. The company's stock had a trading volume of 3,423,606 shares, compared to its average volume of 1,904,723. The stock has a market capitalization of $5.78 billion, a P/E ratio of -10.85 and a beta of 1.70. The firm has a 50 day moving average price of $54.88 and a 200-day moving average price of $58.35. CRISPR Therapeutics AG has a 12-month low of $30.04 and a 12-month high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.17) earnings per share for the quarter, topping the consensus estimate of ($1.32) by $0.15. The business had revenue of $0.89 million for the quarter, compared to analysts' expectations of $8.74 million. CRISPR Therapeutics had a negative return on equity of 21.23% and a negative net margin of 1,273.70%. On average, equities analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank Of Canada raised their target price on CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a "sector perform" rating in a research report on Tuesday, November 11th. Robert W. Baird dropped their target price on CRISPR Therapeutics from $52.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 11th. Citigroup reissued a "buy" rating and set a $77.00 price objective (down previously from $87.00) on shares of CRISPR Therapeutics in a report on Tuesday, November 11th. Wells Fargo & Company set a $75.00 price target on CRISPR Therapeutics in a research report on Monday, October 13th. Finally, Bank of America raised their price objective on shares of CRISPR Therapeutics from $78.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, October 17th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $68.35.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CRSP. Mirae Asset Global Investments Co. Ltd. boosted its stake in CRISPR Therapeutics by 5.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,516 shares of the company's stock worth $228,000 after buying an additional 180 shares in the last quarter. IFP Advisors Inc boosted its position in CRISPR Therapeutics by 24.6% during the second quarter. IFP Advisors Inc now owns 916 shares of the company's stock valued at $45,000 after buying an additional 181 shares during the period. Cerity Partners LLC increased its holdings in shares of CRISPR Therapeutics by 3.0% in the second quarter. Cerity Partners LLC now owns 6,541 shares of the company's stock worth $318,000 after buying an additional 190 shares during the period. Peapack Gladstone Financial Corp lifted its stake in shares of CRISPR Therapeutics by 3.0% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company's stock valued at $339,000 after acquiring an additional 200 shares during the last quarter. Finally, Optiver Holding B.V. grew its position in CRISPR Therapeutics by 71.4% during the 3rd quarter. Optiver Holding B.V. now owns 504 shares of the company's stock worth $33,000 after acquiring an additional 210 shares during the last quarter. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.

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