Insider Selling: CRISPR Therapeutics (NASDAQ:CRSP) General Counsel Sells 1,076 Shares of Stock

Key Points

• James Kasinger, General Counsel for CRISPR Therapeutics, sold 1,076 shares at an average price of $66.60, resulting in a total transaction of approximately $71,661.60.
• Following the sale, Kasinger maintains 83,402 shares, valued at about $5.55 million, which represents a 1.27% decrease in ownership.
• CRISPR Therapeutics' stock increased by 3.5%, closing at $71.82 after recent trading activity, and the company has a market cap of $6.53 billion.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) General Counsel James Kasinger sold 1,076 shares of the firm's stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total transaction of $71,661.60. Following the completion of the transaction, the general counsel directly owned 83,402 shares in the company, valued at approximately $5,554,573.20. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CRISPR Therapeutics Stock Up 3.5%

CRSP stock traded up $2.44 during midday trading on Wednesday, reaching $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 52 week low of $30.04 and a 52 week high of $78.48. The stock has a market cap of $6.53 billion, a PE ratio of -13.23 and a beta of 1.84. The business's 50-day simple moving average is $59.59 and its 200-day simple moving average is $49.36.

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

Analyst Ratings Changes

CRSP has been the topic of a number of research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Needham & Company LLC restated a "buy" rating and issued a $81.00 price target on shares of CRISPR Therapeutics in a report on Friday, October 10th. Wells Fargo & Company set a $75.00 price objective on CRISPR Therapeutics in a research report on Monday. Piper Sandler restated an "overweight" rating and issued a $105.00 target price on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $82.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, August 5th. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $71.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Atlantic Union Bankshares Corp bought a new position in CRISPR Therapeutics during the second quarter worth about $33,000. SVB Wealth LLC bought a new position in CRISPR Therapeutics during the first quarter worth about $25,000. Strategic Wealth Investment Group LLC bought a new position in CRISPR Therapeutics during the second quarter worth about $36,000. Costello Asset Management INC bought a new position in CRISPR Therapeutics during the first quarter worth about $27,000. Finally, IFP Advisors Inc increased its position in CRISPR Therapeutics by 24.6% during the second quarter. IFP Advisors Inc now owns 916 shares of the company's stock worth $45,000 after acquiring an additional 181 shares during the period. Institutional investors and hedge funds own 69.20% of the company's stock.

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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