CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 4.1% - Here's What Happened

Key Points

• CRISPR Therapeutics stock experienced a decline of 4.1%, closing at $61.11, with trading volume down 33% compared to its average.
• Various analysts issued mixed ratings on the stock, with Goldman Sachs lowering its price target from $53 to $47, while others maintained buy ratings with targets as high as $82.
• In its latest earnings report, CRISPR missed estimates with a loss of $1.58 per share, despite a 71.6% increase in quarterly revenue compared to the previous year.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) dropped 4.1% during mid-day trading on Tuesday . The stock traded as low as $58.90 and last traded at $61.11. Approximately 1,703,679 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 2,548,654 shares. The stock had previously closed at $63.75.

Analysts Set New Price Targets

CRSP has been the topic of several research reports. The Goldman Sachs Group lowered their price target on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Piper Sandler reissued an "overweight" rating and issued a $105.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Bank of America lowered their price target on shares of CRISPR Therapeutics from $79.00 to $78.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. HC Wainwright reissued a "buy" rating and issued a $65.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Finally, Wall Street Zen raised shares of CRISPR Therapeutics to a "sell" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CRISPR Therapeutics currently has a consensus rating of "Hold" and an average price target of $71.31.

CRISPR Therapeutics Trading Down 0.3%

The stock's fifty day moving average price is $49.63 and its 200 day moving average price is $43.36. The stock has a market cap of $4.84 billion, a P/E ratio of -12.41 and a beta of 1.80.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) EPS for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.31). CRISPR Therapeutics had a negative return on equity of 20.08% and a negative net margin of 1,023.64%. The company's quarterly revenue was up 71.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.43) earnings per share. On average, analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Simeon George purchased 989,812 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were purchased at an average price of $52.03 per share, with a total value of $51,499,918.36. Following the acquisition, the director directly owned 1,730,179 shares of the company's stock, valued at approximately $90,021,213.37. This represents a 133.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Naimish Patel sold 3,932 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $35.94, for a total transaction of $141,316.08. Following the completion of the transaction, the insider directly owned 6,068 shares in the company, valued at $218,083.92. The trade was a 39.32% decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of institutional investors have recently made changes to their positions in CRSP. LPL Financial LLC boosted its stake in shares of CRISPR Therapeutics by 39.3% in the 4th quarter. LPL Financial LLC now owns 149,726 shares of the company's stock valued at $5,893,000 after purchasing an additional 42,232 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of CRISPR Therapeutics by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,735,998 shares of the company's stock valued at $68,329,000 after purchasing an additional 10,579 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of CRISPR Therapeutics by 7.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,252 shares of the company's stock valued at $215,000 after purchasing an additional 372 shares in the last quarter. Norges Bank purchased a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at $17,458,000. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at $1,883,000. Hedge funds and other institutional investors own 69.20% of the company's stock.

About CRISPR Therapeutics

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.