CRISPR Therapeutics (NASDAQ:CRSP) General Counsel James Kasinger Sells 10,400 Shares of Company Stock

Key Points

• General Counsel James Kasinger sold 10,400 CRISPR Therapeutics shares at an average price of $60.24, generating $626,496. His remaining stake fell 9.89% to 94,784 shares.
• CRSP shares traded near $55.70, with the company valued at approximately $5.39 billion. CRISPR Therapeutics reported a quarterly loss of $0.94 per share on $10.18 million in revenue, and analysts expect a full-year loss of $4.47 per share.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $67.94; hedge funds and other institutions own about 69.20% of the stock.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) General Counsel James Kasinger sold 10,400 shares of CRISPR Therapeutics stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $60.24, for a total transaction of $626,496.00. Following the completion of the sale, the general counsel directly owned 94,784 shares of the company's stock, valued at approximately $5,709,788.16. This trade represents a 9.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ CRSP traded down $0.06 during midday trading on Thursday, hitting $55.70. 1,554,919 shares of the stock traded hands, compared to its average volume of 1,765,372. The firm has a 50-day moving average of $53.49 and a two-hundred day moving average of $52.76. The firm has a market capitalization of $5.39 billion, a P/E ratio of -11.70 and a beta of 1.76. The company has a debt-to-equity ratio of 0.34, a quick ratio of 17.85 and a current ratio of 17.85. CRISPR Therapeutics AG has a one year low of $44.12 and a one year high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported ($0.94) EPS for the quarter. The firm had revenue of $10.18 million during the quarter. CRISPR Therapeutics had a negative return on equity of 24.39% and a negative net margin of 3,368.72%. On average, equities analysts forecast that CRISPR Therapeutics AG will post -4.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley set a $60.00 price target on shares of CRISPR Therapeutics and gave the company an "equal weight" rating in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of CRISPR Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Citigroup restated a "market outperform" rating on shares of CRISPR Therapeutics in a research report on Tuesday, August 25th. UBS Group set a $80.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 12th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of CRISPR Therapeutics in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $67.94.

Institutional Investors Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRSP. Engineers Gate Manager LP bought a new stake in CRISPR Therapeutics during the 2nd quarter worth approximately $585,000. NewEdge Advisors LLC boosted its holdings in CRISPR Therapeutics by 131.3% in the 2nd quarter. NewEdge Advisors LLC now owns 8,217 shares of the company's stock worth $448,000 after buying an additional 4,664 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in CRISPR Therapeutics in the 2nd quarter worth $970,000. Ameritas Advisory Services LLC purchased a new stake in CRISPR Therapeutics in the 2nd quarter worth $56,000. Finally, HB Wealth Management LLC purchased a new stake in CRISPR Therapeutics in the 2nd quarter worth $289,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG NASDAQ: CRSP is a biotechnology company focused on developing gene-editing medicines using CRISPR/Cas9 technology. The company's programs are designed to modify disease-associated genes in human cells, with the goal of treating serious conditions across hematology, oncology, autoimmune disease and regenerative medicine.

Its most advanced product is Casgevy (exa-cel), an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals. Casgevy uses CRISPR/Cas9 gene editing to modify a patient's blood stem cells and is approved in several markets for eligible patients with sickle cell disease and transfusion-dependent beta thalassemia.

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