CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 9.1% - What's Next?

Key Points

• CRISPR Therapeutics shares fell 9.1% to about $45.50, with trading volume 23% above its average.
• Analysts hold a consensus “Moderate Buy” rating and an average price target of $69.69, though recent recommendations range from Sell to Strong Buy.
• The company missed quarterly earnings and revenue estimates, reporting a loss of $1.15 per share and $12.67 million in revenue; revenue was up 1,311.1% year over year.

CRISPR Therapeutics AG (NASDAQ:CRSP - Get Free Report)'s stock price fell 9.1% during trading on Tuesday. The company traded as low as $45.48 and last traded at $45.4990. Approximately 2,120,953 shares were traded during trading, an increase of 23% from the average daily volume of 1,717,622 shares. The stock had previously closed at $50.04.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRSP. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 target price on shares of CRISPR Therapeutics in a report on Thursday, August 6th. Piper Sandler reissued an "overweight" rating and issued a $110.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday. Wells Fargo & Company dropped their price target on CRISPR Therapeutics from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 4th. Citizens Jmp restated a "market outperform" rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a report on Monday, August 31st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $82.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $69.69.

CRISPR Therapeutics Price Performance

The company has a market cap of $4.41 billion, a PE ratio of -9.58 and a beta of 1.92. The stock has a fifty day moving average price of $53.12 and a 200-day moving average price of $52.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 16.21 and a quick ratio of 17.85.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.09). The business 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%. CRISPR Therapeutics's revenue for the quarter was up 1311.1% compared to the same quarter last year. On average, equities analysts expect that CRISPR Therapeutics AG will post -4.50 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Simeon George sold 14,514 shares of the firm's stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $49.63, for a total value of $720,329.82. Following the completion of the transaction, the director directly owned 15,486 shares of the company's stock, valued at approximately $768,570.18. This trade represents a 48.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 47,837 shares of the company's stock in a transaction on Monday, October 19th. The stock was sold at an average price of $49.78, for a total transaction of $2,381,325.86. Following the sale, the chief executive officer directly owned 311,899 shares in the company, valued at $15,526,332.22. This trade represents a 13.30% 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. In the last 90 days, insiders sold 93,558 shares of company stock worth $4,881,663. 5.20% of the stock is owned by corporate insiders.

Institutional Trading of CRISPR Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC boosted its stake in shares of CRISPR Therapeutics by 145.3% during the 3rd quarter. Voya Investment Management LLC now owns 43,330 shares of the company's stock worth $2,397,000 after acquiring an additional 25,665 shares during the period. Cibc World Market Inc. raised its stake in CRISPR Therapeutics by 56.5% in the 3rd quarter. Cibc World Market Inc. now owns 17,515 shares of the company's stock valued at $969,000 after acquiring an additional 6,320 shares during the period. HighTower Advisors LLC raised its stake in CRISPR Therapeutics by 4.0% in the 3rd quarter. HighTower Advisors LLC now owns 25,644 shares of the company's stock valued at $1,419,000 after acquiring an additional 992 shares during the period. Ground Swell Capital LLC acquired a new stake in CRISPR Therapeutics during the 3rd quarter valued at $234,000. Finally, Clearwater Capital Advisors LLC bought a new position in CRISPR Therapeutics during the third quarter worth $313,000. Institutional investors own 69.20% of the company's stock.

CRISPR Therapeutics Company Profile

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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