Insider Selling: CRISPR Therapeutics (NASDAQ:CRSP) CEO Sells 4,098 Shares of Stock

Key Points

• CEO Samarth Kulkarni sold 4,098 CRISPR Therapeutics shares at an average price of $49.26, generating approximately $201,867. The sale represented a 1.55% reduction in his holdings and was made to cover tax obligations tied to vested equity awards.
• CRISPR Therapeutics shares rose 2.6% to $51.52, while the company reported a quarterly loss of $0.94 per share on $10.18 million in revenue. Analysts expect a full-year loss of approximately $4.48 per share.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $65.75; institutional investors own approximately 69.2% of the company.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) CEO Samarth Kulkarni sold 4,098 shares of the firm's stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $49.26, for a total transaction of $201,867.48. Following the completion of the transaction, the chief executive officer owned 259,736 shares in the company, valued at $12,794,595.36. This represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CRISPR Therapeutics Trading Up 2.6%

CRISPR Therapeutics stock traded up $1.30 during mid-day trading on Thursday, reaching $51.52. 1,352,731 shares of the company traded hands, compared to its average volume of 1,748,176. CRISPR Therapeutics AG has a 52-week low of $44.12 and a 52-week high of $75.06. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -10.82 and a beta of 1.76. The firm's 50 day moving average price is $55.08 and its 200 day moving average price is $53.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 17.85 and a quick ratio of 17.85.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share (EPS) for the quarter. The business 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, analysts anticipate that CRISPR Therapeutics AG will post -4.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citizens Jmp restated a "market outperform" rating and set a $80.00 target price on shares of CRISPR Therapeutics in a research report on Monday, August 31st. William Blair raised CRISPR Therapeutics to a "strong-buy" rating in a report on Wednesday, September 23rd. Needham & Company LLC reiterated a "buy" rating and set a $82.00 target price on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Weiss Ratings restated a "sell (d-)" rating on shares of CRISPR Therapeutics in a research report on Friday, July 17th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of CRISPR Therapeutics in a research note on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $65.75.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Affinity Asset Advisors LLC acquired a new position in shares of CRISPR Therapeutics during the first quarter worth about $7,136,000. KBC Group NV boosted its position in shares of CRISPR Therapeutics by 3,999.9% during the 1st quarter. KBC Group NV now owns 116,847 shares of the company's stock worth $5,558,000 after acquiring an additional 113,997 shares in the last quarter. Shah Wealth Advisors LLC purchased a new position in shares of CRISPR Therapeutics in the 2nd quarter valued at about $3,767,000. Monashee Investment Management LLC acquired a new stake in shares of CRISPR Therapeutics during the 1st quarter worth about $2,378,000. Finally, Quantinno Capital Management LP boosted its holdings in CRISPR Therapeutics by 613.5% in the first quarter. Quantinno Capital Management LP now owns 47,989 shares of the company's stock valued at $2,283,000 after purchasing an additional 41,263 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company's stock.

About CRISPR Therapeutics

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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