CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 1.7% After Earnings Miss

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s stock price fell 1.7% on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $51.58 and last traded at $52.37. 509,367 shares traded hands during trading, a decline of 71% from the average session volume of 1,746,713 shares. The stock had previously closed at $53.29.

The company reported ($1.43) EPS for the quarter, missing analysts' consensus estimates of ($1.35) by ($0.08). The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. The firm's revenue for the quarter was down 99.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.67) EPS.

Wall Street Analyst Weigh In

CRSP has been the topic of several recent analyst reports. Needham & Company LLC decreased their price objective on shares of CRISPR Therapeutics from $90.00 to $88.00 and set a "buy" rating on the stock in a research report on Thursday. Mizuho upped their price objective on CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, March 6th. Chardan Capital boosted their price target on CRISPR Therapeutics from $110.00 to $112.00 and gave the stock a "buy" rating in a report on Thursday, February 22nd. Wolfe Research began coverage on shares of CRISPR Therapeutics in a research note on Thursday, February 15th. They issued a "peer perform" rating for the company. Finally, Wells Fargo & Company decreased their target price on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Thursday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $73.73.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 19,582 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $59.91, for a total value of $1,173,157.62. Following the completion of the transaction, the chief executive officer now owns 208,122 shares in the company, valued at $12,468,589.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Samarth Kulkarni sold 19,582 shares of the firm's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $59.91, for a total value of $1,173,157.62. Following the completion of the sale, the chief executive officer now owns 208,122 shares in the company, valued at $12,468,589.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Raju Prasad sold 3,524 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $72.69, for a total value of $256,159.56. Following the transaction, the chief financial officer now owns 6,476 shares in the company, valued at approximately $470,740.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,992 shares of company stock worth $6,132,335. Insiders own 4.10% of the company's stock.

Institutional Trading of CRISPR Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Riggs Asset Managment Co. Inc. grew its holdings in CRISPR Therapeutics by 66.7% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company's stock valued at $34,000 after buying an additional 200 shares during the last quarter. Signaturefd LLC raised its stake in CRISPR Therapeutics by 12.5% in the 3rd quarter. Signaturefd LLC now owns 2,124 shares of the company's stock valued at $96,000 after purchasing an additional 236 shares during the last quarter. Itau Unibanco Holding S.A. lifted its holdings in CRISPR Therapeutics by 10.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 2,521 shares of the company's stock valued at $114,000 after purchasing an additional 245 shares in the last quarter. Spire Wealth Management boosted its stake in shares of CRISPR Therapeutics by 32.7% during the 3rd quarter. Spire Wealth Management now owns 1,052 shares of the company's stock worth $48,000 after purchasing an additional 259 shares during the last quarter. Finally, WealthPlan Investment Management LLC grew its holdings in shares of CRISPR Therapeutics by 3.1% during the fourth quarter. WealthPlan Investment Management LLC now owns 9,663 shares of the company's stock worth $605,000 after buying an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company's stock.

CRISPR Therapeutics Price Performance

The business's 50-day moving average price is $65.81 and its two-hundred day moving average price is $64.64. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of -27.14 and a beta of 1.80.

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.