CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 6.1% - Here's Why

Key Points

• CRISPR Therapeutics' stock price fell by 6.1% to $68.59 amid trading, reflecting a significant decline in volume compared to its average.
• Analysts have set varying price targets for CRISPR Therapeutics, with recommendations ranging from a "buy" rating and a price target of $82 to a consensus target of $71.71.
• Insider activity sees Director Simeon George increasing his stake by 133.69%, acquiring nearly 1 million shares at an average price of $52.03.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s share price was down 6.1% during mid-day trading on Monday . The stock traded as low as $69.14 and last traded at $68.59. Approximately 1,989,396 shares changed hands during trading, a decline of 23% from the average daily volume of 2,577,496 shares. The stock had previously closed at $73.07.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRSP. Chardan Capital reiterated a "buy" rating and set a $82.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, August 5th. Wells Fargo & Company set a $75.00 price target on CRISPR Therapeutics in a research note on Monday. JMP Securities reiterated a "market outperform" rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research note on Friday, June 27th. HC Wainwright reiterated a "buy" rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, September 23rd. Finally, Zacks Research raised shares of CRISPR Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $71.71.

CRISPR Therapeutics Price Performance

The company has a market cap of $6.24 billion, a PE ratio of -12.65 and a beta of 1.84. The company has a fifty day moving average price of $59.14 and a 200 day moving average price of $49.00.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($1.29) EPS for the quarter, topping the consensus estimate of ($1.47) by $0.18. CRISPR Therapeutics had a negative return on equity of 20.05% and a negative net margin of 1,229.43%.The company had revenue of $0.89 million during the quarter, compared to analyst estimates of $6.44 million. During the same quarter in the previous year, the firm earned ($1.49) earnings per share. CRISPR Therapeutics's revenue was up 72.5% on a year-over-year basis. As a group, sell-side analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, Director Simeon George acquired 989,812 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was bought at an average price of $52.03 per share, with a total value of $51,499,918.36. Following the completion of the acquisition, the director owned 1,730,179 shares of the company's stock, valued at $90,021,213.37. This trade represents a 133.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.30% of the company's stock.

Institutional Trading of CRISPR Therapeutics

Hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC lifted its position in CRISPR Therapeutics by 13.3% in the 1st quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company's stock worth $345,929,000 after buying an additional 1,192,336 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management bought a new stake in CRISPR Therapeutics in the 1st quarter worth approximately $416,000. Cambridge Investment Research Advisors Inc. lifted its position in CRISPR Therapeutics by 14.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,189 shares of the company's stock valued at $1,334,000 after purchasing an additional 4,914 shares during the last quarter. IVC Wealth Advisors LLC bought a new stake in CRISPR Therapeutics in the second quarter valued at approximately $225,000. Finally, Vanguard Group Inc. lifted its position in CRISPR Therapeutics by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company's stock valued at $60,223,000 after purchasing an additional 33,711 shares during the last quarter. Institutional investors own 69.20% of the company's stock.

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.

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