CRISPR Therapeutics (NASDAQ:CRSP) Trading Down 6.3% After Analyst Downgrade

CRISPR Therapeutics AG (NASDAQ:CRSP – Get Rating)’s stock price dropped 6.3% during mid-day trading on Thursday after JMP Securities lowered their price target on the stock from $100.00 to $70.00. JMP Securities currently has a market outperform rating on the stock. CRISPR Therapeutics traded as low as $47.39 and last traded at $47.39. Approximately 7,262 shares traded hands during trading, a decline of 99% from the average daily volume of 1,167,575 shares. The stock had previously closed at $50.55.

Other research analysts also recently issued reports about the company. Morgan Stanley initiated coverage on CRISPR Therapeutics in a research note on Tuesday, October 11th. They issued an “underweight” rating and a $37.00 price objective for the company. SVB Leerink increased their price objective on CRISPR Therapeutics from $75.00 to $76.00 and gave the company an “outperform” rating in a research note on Monday, November 7th. EF Hutton Acquisition Co. I initiated coverage on CRISPR Therapeutics in a research note on Thursday, January 5th. They issued a “buy” rating and a $75.00 price objective for the company. Citigroup reduced their price objective on CRISPR Therapeutics from $83.00 to $63.00 and set a “neutral” rating for the company in a research note on Wednesday, November 23rd. Finally, Royal Bank of Canada cut their target price on CRISPR Therapeutics from $79.00 to $70.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $98.22.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 25,000 shares of the stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $40.93, for a total transaction of $1,023,250.00. Following the completion of the transaction, the chief executive officer now directly owns 369,111 shares in the company, valued at approximately $15,107,713.23. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 75,000 shares of company stock worth $3,744,250. 5.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of CRISPR Therapeutics by 2,440.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 381 shares of the company’s stock worth $25,000 after acquiring an additional 366 shares in the last quarter. HM Payson & Co. boosted its position in CRISPR Therapeutics by 500.0% during the third quarter. HM Payson & Co. now owns 480 shares of the company’s stock worth $31,000 after purchasing an additional 400 shares in the last quarter. Country Trust Bank purchased a new stake in CRISPR Therapeutics during the third quarter worth $33,000. International Biotechnology Trust PLC purchased a new stake in CRISPR Therapeutics during the second quarter worth $34,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of CRISPR Therapeutics by 159.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 635 shares of the company’s stock worth $39,000 after acquiring an additional 390 shares during the last quarter. 71.51% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Stock Down 5.7 %

The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -5.42 and a beta of 1.77. The stock has a fifty day moving average price of $49.87 and a two-hundred day moving average price of $61.16.

CRISPR Therapeutics (NASDAQ:CRSP – Get Rating) last released its earnings results on Tuesday, November 1st. The company reported ($2.24) EPS for the quarter, beating the consensus estimate of ($2.30) by $0.06. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $3.53 million. CRISPR Therapeutics had a negative return on equity of 31.34% and a negative net margin of 4,831.79%. As a group, research analysts forecast that CRISPR Therapeutics AG will post -9.23 earnings per share for the current fiscal year.

CRISPR Therapeutics Company Profile

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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.