CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 3.1%

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) dropped 3.1% during mid-day trading on Wednesday . The company traded as low as $53.25 and last traded at $53.81. Approximately 398,715 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,747,559 shares. The stock had previously closed at $55.53.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of CRISPR Therapeutics from $46.00 to $48.00 and gave the company an "underweight" rating in a research note on Monday, February 26th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of CRISPR Therapeutics in a research report on Thursday, April 11th. Citigroup lifted their target price on CRISPR Therapeutics from $88.00 to $89.00 and gave the company a "buy" rating in a research note on Thursday, April 18th. Wells Fargo & Company increased their price objective on shares of CRISPR Therapeutics from $55.00 to $70.00 and gave the company an "equal weight" rating in a report on Thursday, February 22nd. Finally, TheStreet upgraded shares of CRISPR Therapeutics from a "d+" rating to a "c" rating in a research report on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CRISPR Therapeutics currently has an average rating of "Hold" and an average price target of $76.29.

CRISPR Therapeutics Stock Performance

The stock has a market cap of $4.52 billion, a P/E ratio of -27.19 and a beta of 1.80. The stock's fifty day moving average is $65.81 and its 200 day moving average is $64.64.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.95. The company had revenue of $201.20 million during the quarter, compared to the consensus estimate of $148.72 million. During the same period in the previous year, the business earned ($1.41) earnings per share. CRISPR Therapeutics's revenue for the quarter was up 3253.3% on a year-over-year basis. Equities research analysts predict that CRISPR Therapeutics AG will post -6.24 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In related news, General Counsel James R. Kasinger sold 1,913 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $79.67, for a total value of $152,408.71. Following the sale, the general counsel now directly owns 57,371 shares of the company's stock, valued at approximately $4,570,747.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel James R. Kasinger sold 2,801 shares of CRISPR Therapeutics stock in a transaction on Monday, March 11th. The stock was sold at an average price of $78.26, for a total transaction of $219,206.26. Following the completion of the sale, the general counsel now directly owns 60,070 shares in the company, valued at $4,701,078.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel James R. Kasinger sold 1,913 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total transaction of $152,408.71. Following the completion of the transaction, the general counsel now directly owns 57,371 shares in the company, valued at approximately $4,570,747.57. The disclosure for this sale can be found here. Insiders have sold 83,992 shares of company stock worth $6,132,335 over the last quarter. Insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of CRISPR Therapeutics by 21.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 33,378 shares of the company's stock valued at $1,515,000 after buying an additional 5,948 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of CRISPR Therapeutics by 28.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,580 shares of the company's stock valued at $253,000 after purchasing an additional 1,226 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of CRISPR Therapeutics by 11.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,527 shares of the company's stock valued at $841,000 after purchasing an additional 1,879 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CRISPR Therapeutics by 10.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 184,854 shares of the company's stock valued at $8,391,000 after purchasing an additional 17,258 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of CRISPR Therapeutics by 12.9% during the third quarter. TD Asset Management Inc now owns 240,462 shares of the company's stock valued at $10,915,000 after purchasing an additional 27,387 shares in the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Company Profile

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.