CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 0.9% - Here's Why

CRISPR Therapeutics AG (NASDAQ:CRSP) saw its stock price decrease by 0.9% during mid-day trading on Wednesday. The shares dipped to a low of $42.80 before settling at $43.04, with a total of 308,445 shares traded. This volume represents a significant decline of 86% compared to the average session volume of 2,277,744 shares. The previous closing price for the stock was $43.45.

Analyst Ratings

CRISPR Therapeutics has been the focus of multiple analyst evaluations. On February 19th, Cantor Fitzgerald maintained a "neutral" rating for the shares. Needham & Company reaffirmed a "buy" rating with a target price of $84.00 on February 12th. Similarly, HC Wainwright reiterated a "buy" rating with a target of $65.00 on February 13th. In contrast, Bank of America reduced its price target from $98.00 to $85.00 while retaining a "buy" rating in a note dated January 7th. Morgan Stanley adjusted their price objective from $30.00 to $32.00 while giving an "underweight" rating on February 14th. Currently, out of various investment analysts, two have issued a sell rating, nine have set a hold rating, and twelve recommend a buy rating. According to MarketBeat.com data, CRISPR Therapeutics has an average consensus rating of "Hold" with an average target price of $74.40.

CRISPR Therapeutics Performance Metrics

The company boasts a market capitalization of $3.76 billion, a PE ratio of -10.04, and a beta of 1.67. The fifty-day moving average price stands at $42.57, while the 200-day moving average price is $45.86.

Latest Earnings Report

CRISPR Therapeutics recently announced its earnings results on February 11th, reporting an EPS of ($0.44) for the quarter. This was better than analysts' expectations of ($1.15), surpassing them by $0.71. The firm reported a negative net margin of 981.54% along with a negative return on equity of -18.46%. Analysts project that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Insider Transactions

In significant insider activity, CEO Samarth Kulkarni sold 18,360 shares of the company's stock on February 19th at an average price of $55.20, totaling approximately $1,013,472.00. Following this sale, he holds about 171,613 shares in the company, valued around $9,473,037.60, marking a 9.66% decrease in his ownership stake. This transaction has been filed with the SEC and is publicly accessible. Additionally, Director John Greene bought 7,000 shares on February 26th at an average price of $44.85, amounting to around $313,950. Following this acquisition, Greene now owns 7,000 shares, also valued at about $313,950, which shows an increase in position.

Investment Dynamics

Institutional investors have also been active in making adjustments to their holdings in CRISPR Therapeutics. ARK Investment Management LLC increased its shares by 19.7% last quarter, acquiring a total of 8,973,064 shares worth approximately $353,180,000. Similarly, Capital International Investors increased their stake by 10.3%, amassing 8,743,523 shares valued at $344,145,000. T. Rowe Price Investment Management also raised its holdings by 39.2%, owning a total of 3,811,708 shares worth around $150,029,000. Furthermore, State Street Corporation lifted its holdings by 25.0%, while FMR LLC raised its stake by 1.0%. Approximately 69.20% of the stock is owned by institutional investors and hedge funds.

About CRISPR Therapeutics

CRISPR Therapeutics is a pioneering company in the gene-editing sector, dedicated to creating innovative gene-based therapies for serious illnesses. Utilizing its proprietary CRISPR/Cas9 platform, the company is at the forefront of gene-editing technology, which allows for targeted modifications to genomic DNA. CRISPR Therapeutics has a wide-ranging portfolio of therapeutic programs that address various disease areas, including hemoglobinopathies, cancer, regenerative medicine, and rare disorders.

CRISPR, stocks, trading