CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 5.7% - Time to Sell?

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s stock price traded down 5.7% during trading on Tuesday . The company traded as low as $53.83 and last traded at $53.18. 869,404 shares traded hands during trading, a decline of 55% from the average session volume of 1,946,566 shares. The stock had previously closed at $56.42.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler reissued an "overweight" rating and set a $105.00 price target on shares of CRISPR Therapeutics in a report on Friday, June 27th. Needham & Company LLC reissued a "buy" rating and set a $81.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, July 8th. Wall Street Zen raised CRISPR Therapeutics to a "sell" rating in a report on Friday, May 16th. Chardan Capital reissued a "buy" rating and set a $82.00 price target on shares of CRISPR Therapeutics in a report on Thursday, June 26th. Finally, JMP Securities reissued a "market outperform" rating and set a $86.00 price target on shares of CRISPR Therapeutics in a report on Friday, June 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $71.75.

CRISPR Therapeutics Trading Down 0.1%

The firm has a market capitalization of $4.76 billion, a P/E ratio of -12.19 and a beta of 1.82. The firm has a 50 day moving average price of $43.70 and a 200-day moving average price of $41.57.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share (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%. During the same period in the prior year, the business earned ($1.43) EPS. The company's revenue for the quarter was up 71.6% on a year-over-year basis. Research analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insider Activity

In related news, insider Naimish Patel sold 3,932 shares of the firm's stock in a transaction that occurred 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 sale, the insider directly owned 6,068 shares of the company's stock, valued at approximately $218,083.92. This trade represents a 39.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in CRISPR Therapeutics by 182.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company's stock worth $66,452,000 after purchasing an additional 1,262,560 shares during the period. ARK Investment Management LLC increased its holdings in CRISPR Therapeutics by 13.3% during the 1st quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company's stock worth $345,929,000 after purchasing an additional 1,192,336 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in CRISPR Therapeutics by 39.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company's stock worth $150,029,000 after purchasing an additional 1,074,238 shares during the period. Capital International Investors increased its holdings in CRISPR Therapeutics by 10.3% during the 4th quarter. Capital International Investors now owns 8,743,523 shares of the company's stock worth $344,145,000 after purchasing an additional 816,789 shares during the period. Finally, Millennium Management LLC increased its holdings in CRISPR Therapeutics by 6,769.1% during the 1st quarter. Millennium Management LLC now owns 583,733 shares of the company's stock worth $19,864,000 after purchasing an additional 575,235 shares during the period. 69.20% of the stock is owned by institutional investors.

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.