CRISPR Therapeutics (NASDAQ:CRSP) Sets New 52-Week Low - Here's Why

Key Points

• CRISPR Therapeutics hit a new 52-week low, trading as low as $43.30, below its previous close of $45.75.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $72.93, though Wells Fargo cut its target from $75 to $70.
• The company’s latest quarterly results missed expectations: it reported a loss of $1.15 per share versus the $1.06 loss analysts forecast, and revenue of $12.67 million versus $14.75 million expected.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report) reached a new 52-week low during trading on Thursday. The company traded as low as $43.30 and last traded at $43.9250, with a volume of 250,136 shares trading hands. The stock had previously closed at $45.75.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CRSP shares. Wells Fargo & Company dropped their target price on CRISPR Therapeutics from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Wednesday, November 4th. Citizens Jmp reaffirmed a "market outperform" rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research note on Monday, August 31st. Needham & Company LLC reaffirmed a "buy" rating and set a $82.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, November 3rd. HC Wainwright reiterated a "buy" rating on shares of CRISPR Therapeutics in a research report on Friday, October 9th. Finally, William Blair raised CRISPR Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, CRISPR Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $72.93.

CRISPR Therapeutics Stock Performance

The company has a quick ratio of 16.21, a current ratio of 16.21 and a debt-to-equity ratio of 0.36. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -9.26 and a beta of 1.92. The company's 50-day simple moving average is $52.66 and its 200-day simple moving average is $52.66.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The company reported ($1.15) EPS for the quarter, missing analysts' consensus estimates of ($1.06) by ($0.09). The company had revenue of $12.67 million for the quarter, compared to analyst estimates of $14.75 million. CRISPR Therapeutics had a negative net margin of 1,812.07% and a negative return on equity of 25.59%. The company's revenue was up 1311.1% on a year-over-year basis. Analysts predict that CRISPR Therapeutics AG will post -4.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ali Behbahani sold 13,679 shares of the company's stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $57.09, for a total transaction of $780,934.11. Following the completion of the sale, the director directly owned 16,637 shares of the company's stock, valued at $949,806.33. This represents a 45.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 1,040 shares of the company's stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $49.26, for a total value of $51,230.40. Following the sale, the general counsel directly owned 95,857 shares of the company's stock, valued at approximately $4,721,915.82. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 93,558 shares of company stock valued at $4,881,663 over the last ninety days. 5.20% of the stock is currently owned by company insiders.

Institutional Trading of CRISPR Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in shares of CRISPR Therapeutics by 175.1% in the second quarter. Versant Capital Management Inc now owns 465 shares of the company's stock worth $25,000 after buying an additional 296 shares during the period. Compass Financial Management LLC acquired a new stake in shares of CRISPR Therapeutics during the third quarter valued at approximately $25,000. Ameritas Advisory Services LLC acquired a new stake in shares of CRISPR Therapeutics during the second quarter valued at approximately $56,000. Hollencrest Capital Management raised its holdings in shares of CRISPR Therapeutics by 249.9% during the first quarter. Hollencrest Capital Management now owns 1,312 shares of the company's stock valued at $62,000 after acquiring an additional 937 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of CRISPR Therapeutics by 92.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,246 shares of the company's stock valued at $69,000 after acquiring an additional 597 shares in the last quarter. Institutional investors and hedge funds own 69.20% of the company's stock.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biotechnology company focused on developing gene-based medicines using CRISPR/Cas9, a gene-editing technology that can make targeted changes to DNA. Founded in 2013, the company is headquartered in Zug, Switzerland, and maintains U.S. operations in Cambridge, Massachusetts. Its lead product, Casgevy (exa-cel), was developed with Vertex Pharmaceuticals for people with sickle cell disease and transfusion-dependent beta thalassemia. It was the first therapy based on CRISPR gene editing to receive regulatory approval.

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