CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 7.5% - Here's Why

Key Points

• Shares of CRISPR Therapeutics fell about 7.5% to roughly $51 on Friday (trading as low as $51.21), with mid‑day volume down about 27% versus average.
• The company reported an earnings miss — ($1.37) EPS vs. ($1.15) expected and revenue of $0.86M vs. $4.72M expected (down 97.8% YoY) — while analysts maintain a consensus of Moderate Buy with an average target of $64.53.
• Insider selling has accelerated: CEO Samarth Kulkarni sold 10,349 shares and the general counsel sold 3,450 on March 16, part of 51,828 shares insiders sold over the past three months, with insiders currently owning 4.30% of the company.

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) traded down 7.5% during trading on Friday . The company traded as low as $51.21 and last traded at $51.0430. 1,360,723 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 1,856,670 shares. The stock had previously closed at $55.18.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CRSP shares. Bank of America lowered their price objective on CRISPR Therapeutics from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Thursday, January 22nd. TD Cowen lifted their price target on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the stock a "hold" rating in a research note on Friday, February 13th. Citizens Jmp dropped their price objective on shares of CRISPR Therapeutics from $86.00 to $80.00 and set a "market outperform" rating for the company in a research note on Friday, January 30th. Needham & Company LLC increased their price objective on shares of CRISPR Therapeutics from $80.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, February 13th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of CRISPR Therapeutics in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, CRISPR Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $64.53.

CRISPR Therapeutics Trading Down 8.0%

The stock has a fifty day moving average of $52.68 and a two-hundred day moving average of $55.70. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of -7.82 and a beta of 1.80.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its earnings results on Friday, February 13th. The company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.22). CRISPR Therapeutics had a negative return on equity of 26.31% and a negative net margin of 16,569.77%.The business had revenue of $0.86 million for the quarter, compared to the consensus estimate of $4.72 million. During the same quarter in the previous year, the company posted ($1.01) EPS. CRISPR Therapeutics's revenue for the quarter was down 97.8% on a year-over-year basis. Equities analysts expect that CRISPR Therapeutics AG will post -4.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Samarth Kulkarni sold 10,349 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $48.26, for a total transaction of $499,442.74. Following the transaction, the chief executive officer directly owned 245,834 shares in the company, valued at approximately $11,863,948.84. This represents a 4.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel James R. Kasinger sold 3,450 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $48.26, for a total transaction of $166,497.00. Following the completion of the sale, the general counsel directly owned 91,240 shares of the company's stock, valued at approximately $4,403,242.40. This represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 51,828 shares of company stock valued at $2,578,097. Insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds have recently added to or reduced their stakes in CRSP. Mirae Asset Global Investments Co. Ltd. lifted its position in CRISPR Therapeutics by 5.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,516 shares of the company's stock valued at $228,000 after purchasing an additional 180 shares during the period. Cerity Partners LLC grew its position in shares of CRISPR Therapeutics by 3.0% during the 2nd 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 raised its stake in shares of CRISPR Therapeutics by 3.0% during the second quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company's stock worth $339,000 after buying an additional 200 shares during the last quarter. Optiver Holding B.V. raised its stake 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 worth $33,000 after buying an additional 210 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in CRISPR Therapeutics by 4.5% in the third quarter. US Bancorp DE now owns 5,777 shares of the company's stock valued at $374,000 after buying an additional 249 shares during the period. 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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