Insider Selling: CRISPR Therapeutics (NASDAQ:CRSP) CEO Sells 4,242 Shares of Stock

Key Points

• CRISPR Therapeutics CEO Samarth Kulkarni sold 4,242 shares at an average price of $66.60, resulting in a total transaction value of $282,517.20, which decreased his ownership by 2.03%.
• The company's stock saw a 3.5% increase following the CEO's sale, with the stock trading at $71.82 with a market cap of $6.53 billion.
• Analysts have generally rated CRISPR Therapeutics positively, with several setting price targets around $70 to $81, indicating a consensus "Hold" rating.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) CEO Samarth Kulkarni sold 4,242 shares of the company's stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total transaction of $282,517.20. Following the transaction, the chief executive officer owned 205,096 shares of the company's stock, valued at approximately $13,659,393.60. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

CRISPR Therapeutics Stock Up 3.5%

NASDAQ CRSP traded up $2.44 on Wednesday, hitting $71.82. The company's stock had a trading volume of 2,361,949 shares, compared to its average volume of 2,582,563. CRISPR Therapeutics AG has a 1-year low of $30.04 and a 1-year high of $78.48. The company's 50-day moving average is $59.59 and its 200 day moving average is $49.36. The firm has a market cap of $6.53 billion, a PE ratio of -13.23 and a beta of 1.84.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.47) by $0.18. CRISPR Therapeutics had a negative net margin of 1,229.43% and a negative return on equity of 20.05%. The firm had revenue of $0.89 million during the quarter, compared to analysts' expectations of $6.44 million. During the same period in the prior year, the company posted ($1.49) EPS. The company's revenue was up 72.5% on a year-over-year basis. On average, equities analysts expect that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of large investors have recently bought and sold shares of the stock. Atlantic Union Bankshares Corp bought a new position in shares of CRISPR Therapeutics in the second quarter valued at $33,000. SVB Wealth LLC bought a new position in shares of CRISPR Therapeutics in the first quarter valued at $25,000. Strategic Wealth Investment Group LLC bought a new position in shares of CRISPR Therapeutics in the second quarter valued at $36,000. Costello Asset Management INC bought a new position in shares of CRISPR Therapeutics in the first quarter valued at $27,000. Finally, IFP Advisors Inc lifted its stake in shares of CRISPR Therapeutics by 24.6% in the second quarter. IFP Advisors Inc now owns 916 shares of the company's stock valued at $45,000 after buying an additional 181 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $81.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, October 10th. JPMorgan Chase & Co. assumed coverage on shares of CRISPR Therapeutics in a research report on Thursday, September 18th. They set an "overweight" rating and a $70.00 price objective for the company. HC Wainwright reiterated a "buy" rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, September 23rd. Wells Fargo & Company set a $75.00 price objective on shares of CRISPR Therapeutics in a research report on Monday. Finally, Zacks Research upgraded shares of CRISPR Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $71.71.

About CRISPR Therapeutics

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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