Insider Selling: CRISPR Therapeutics (NASDAQ:CRSP) CEO Sells 47,837 Shares of Company Stock

Key Points

• CEO Samarth Kulkarni sold 47,837 CRISPR Therapeutics shares at an average price of $49.78, generating approximately $2.38 million. The sale covered tax withholding obligations tied to vested equity awards and reduced his holdings by 13.3% to 311,899 shares.
• CRSP shares fell 0.3% to $49.88, well below their 12-month high of $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 of $4.48 per share.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $65.75 versus the current share price. Institutional investors own approximately 69.2% of the company.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) CEO Samarth Kulkarni sold 47,837 shares of the company's stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $49.78, for a total value of $2,381,325.86. Following the transaction, the chief executive officer owned 311,899 shares of the company's stock, valued at approximately $15,526,332.22. This represents a 13.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Samarth Kulkarni also recently made the following trade(s):

• On Wednesday, October 14th, Samarth Kulkarni sold 4,098 shares of CRISPR Therapeutics stock. The stock was sold at an average price of $49.26, for a total value of $201,867.48.

CRISPR Therapeutics Trading Down 0.3%

CRSP stock traded down $0.16 on Tuesday, reaching $49.88. The company's stock had a trading volume of 2,155,554 shares, compared to its average volume of 1,746,251. The firm has a market cap of $4.82 billion, a PE ratio of -10.48 and a beta of 1.76. The business has a fifty day simple moving average of $54.92 and a two-hundred day simple moving average of $53.29. CRISPR Therapeutics AG has a 12-month low of $44.12 and a 12-month high of $75.06. 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 (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported ($0.94) earnings per share (EPS) for the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. The company had revenue of $10.18 million for the quarter. As a group, research analysts forecast that CRISPR Therapeutics AG will post -4.48 EPS for the current year.

Institutional Trading of CRISPR Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc lifted its position in CRISPR Therapeutics by 175.1% during the 2nd quarter. Versant Capital Management Inc now owns 465 shares of the company's stock valued at $25,000 after acquiring an additional 296 shares during the period. Ameritas Advisory Services LLC purchased a new stake in CRISPR Therapeutics in the second quarter worth about $56,000. GAMMA Investing LLC grew its holdings in CRISPR Therapeutics by 92.0% in the third 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 period. Hollencrest Capital Management grew its holdings in CRISPR Therapeutics by 249.9% in the first quarter. Hollencrest Capital Management now owns 1,312 shares of the company's stock worth $62,000 after purchasing an additional 937 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of CRISPR Therapeutics by 184.2% during the second 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 in the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group initiated coverage on shares of CRISPR Therapeutics in a report on Thursday, October 15th. They issued a "neutral" rating and a $52.00 price objective for the company. HC Wainwright reiterated a "buy" rating on shares of CRISPR Therapeutics in a report on Friday, October 9th. Citigroup reiterated a "market outperform" rating on shares of CRISPR Therapeutics in a report on Monday, September 28th. Needham & Company LLC reissued a "buy" rating and issued a $82.00 target price on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Finally, Citizens Jmp restated a "market outperform" rating and issued a $80.00 target price on shares of CRISPR Therapeutics in a research note on Monday, August 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, CRISPR Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $65.75.

About CRISPR Therapeutics

CRISPR Therapeutics AG NASDAQ: CRSP is a biotechnology company focused on developing transformative gene-based medicines using CRISPR/Cas9 gene-editing technology. The company's research programs are designed to address genetic diseases by precisely modifying DNA in cells, with applications across hematology, immunology, oncology, regenerative medicine and cardiovascular disease.

Its lead commercial product is CASGEVY, an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals.

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