CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 5.8% on Insider Selling

Key Points

• Shares fell 5.8% after CEO Samarth Kulkarni sold a total of 90,000 shares (30,000 at $51.75 on Jan 20 and 60,000 at $60.23 on Jan 22), cutting his stake to 134,201 shares; the stock traded as low as $57.21 with volume about 62% below average.
• The analyst consensus is mixed with an average rating of "Hold" and a $68.15 average price target (12 Buys, 8 Holds, 2 Sells), while fundamentals show negative EPS, minimal revenue, and a $5.42 billion market cap.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) shares fell 5.8% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $57.21 and last traded at $57.2870. 681,870 shares traded hands during trading, a decline of 62% from the average session volume of 1,807,886 shares. The stock had previously closed at $60.81.

Specifically, CEO Samarth Kulkarni sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $51.75, for a total transaction of $1,552,500.00. Following the completion of the transaction, the chief executive officer owned 194,201 shares in the company, valued at $10,049,901.75. This trade represents a 13.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Samarth Kulkarni sold 60,000 shares of the company's stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $60.23, for a total value of $3,613,800.00. Following the completion of the sale, the chief executive officer owned 134,201 shares in the company, valued at $8,082,926.23. This trade represents a 30.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Robert W. Baird reduced their price target on shares of 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 reiterated a "buy" rating and issued a $77.00 price objective (down from $87.00) on shares of CRISPR Therapeutics in a research report on Tuesday, November 11th. Citizens Jmp reiterated a "market outperform" rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, December 23rd. Bank of America lowered their price target on CRISPR Therapeutics from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada raised their target price on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 11th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $68.15.

CRISPR Therapeutics Stock Performance

The business has a 50 day simple moving average of $54.88 and a two-hundred day simple moving average of $58.35. The firm has a market capitalization of $5.42 billion, a P/E ratio of -10.18 and a beta of 1.70.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($1.32) by $0.15. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. The company had revenue of $0.89 million during the quarter, compared to the consensus estimate of $8.74 million. On average, equities analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CRISPR Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. grew its holdings in shares of CRISPR Therapeutics by 71.4% during the third quarter. Optiver Holding B.V. now owns 504 shares of the company's stock valued at $33,000 after buying an additional 210 shares during the last quarter. Thompson Investment Management Inc. bought a new position in CRISPR Therapeutics in the 3rd quarter valued at approximately $33,000. Strategic Advocates LLC bought a new position in CRISPR Therapeutics in the 3rd quarter valued at approximately $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in CRISPR Therapeutics by 196.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company's stock valued at $30,000 after purchasing an additional 382 shares during the last quarter. Finally, Bogart Wealth LLC lifted its holdings in shares of CRISPR Therapeutics by 333.3% during the third quarter. Bogart Wealth LLC now owns 650 shares of the company's stock valued at $42,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company's stock.

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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