CRISPR Therapeutics (NASDAQ:CRSP) General Counsel James Kasinger Sells 1,040 Shares of Company Stock

Key Points

• Insider sale: General Counsel James Kasinger sold 1,040 CRISPR Therapeutics shares at an average price of $49.26, totaling $51,230.40. The sale was made to cover tax withholding tied to vested equity awards, leaving him with 95,857 shares.
• Stock performance and financials: CRSP shares traded at $51.52, within a 52-week range of $44.12 to $75.06. The company reported a quarterly loss of $0.94 per share on $10.18 million in revenue, and analysts expect a full-year loss.
• Analyst outlook: CRISPR Therapeutics has a consensus “Moderate Buy” rating and an average price target of $65.75, with targets ranging from $52 to $80. Institutional investors own approximately 69.2% of the company.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) General Counsel James Kasinger sold 1,040 shares of the business's stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $49.26, for a total transaction of $51,230.40. Following the completion of the sale, the general counsel owned 95,857 shares in the company, valued at $4,721,915.82. This represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CRISPR Therapeutics Price Performance

Shares of CRISPR Therapeutics stock traded up $1.30 during mid-day trading on Thursday, reaching $51.52. 1,352,731 shares of the stock were exchanged, compared to its average volume of 1,748,176. The company has a market cap of $4.98 billion, a price-to-earnings ratio of -10.82 and a beta of 1.76. The company has a current ratio of 17.85, a quick ratio of 17.85 and a debt-to-equity ratio of 0.34. The firm has a 50-day simple moving average of $55.08 and a 200 day simple moving average of $53.20. CRISPR Therapeutics AG has a fifty-two week low of $44.12 and a fifty-two week high of $75.06.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share (EPS) for the quarter. The firm had revenue of $10.18 million for the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. On average, sell-side analysts predict that CRISPR Therapeutics AG will post -4.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of CRISPR Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Citizens Jmp reissued a "market outperform" rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research note on Monday, August 31st. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price target on shares of CRISPR Therapeutics in a report on Thursday, August 6th. William Blair raised shares of CRISPR Therapeutics to a "strong-buy" rating in a report on Wednesday, September 23rd. Finally, UBS Group began coverage on shares of CRISPR Therapeutics in a research report on Thursday. They issued a "neutral" rating and a $52.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CRISPR Therapeutics has an average rating of "Moderate Buy" and an average target price of $65.75.

Hedge Funds Weigh In On CRISPR Therapeutics

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc increased its position in CRISPR Therapeutics by 175.1% in the second quarter. Versant Capital Management Inc now owns 465 shares of the company's stock worth $25,000 after purchasing an additional 296 shares during the period. Ameritas Advisory Services LLC bought a new stake in CRISPR Therapeutics during the 2nd quarter worth about $56,000. GAMMA Investing LLC raised its holdings in CRISPR Therapeutics by 92.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,246 shares of the company's stock worth $69,000 after purchasing an additional 597 shares during the last quarter. Hollencrest Capital Management lifted its position in CRISPR Therapeutics by 249.9% during the 1st quarter. Hollencrest Capital Management now owns 1,312 shares of the company's stock valued at $62,000 after purchasing an additional 937 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of CRISPR Therapeutics by 184.2% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,637 shares of the company's stock valued at $89,000 after purchasing an additional 1,061 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company's stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG NASDAQ: CRSP is a biotechnology company focused on developing gene-editing medicines based on CRISPR/Cas9 technology. The company aims to treat serious diseases by precisely modifying genetic material in patients' cells, with research programs spanning hematology, oncology, autoimmune diseases, and regenerative medicine.

Its lead product, CASGEVY (exagamglogene autotemcel), is a CRISPR/Cas9-based cell therapy developed with Vertex Pharmaceuticals. CASGEVY is approved in multiple markets, including the United States, United Kingdom, and European Union, for certain patients with sickle cell disease and transfusion-dependent beta thalassemia.

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