Insider Selling: CRISPR Therapeutics (NASDAQ:CRSP) CEO Sells $3,456,279.45 in Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) CEO Samarth Kulkarni sold 50,895 shares of the firm’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $67.91, for a total value of $3,456,279.45. Following the completion of the sale, the chief executive officer owned 254,201 shares in the company, valued at $17,262,789.91. The trade was a 16.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Samarth Kulkarni also recently made the following trade(s):

• On Tuesday, October 14th, Samarth Kulkarni sold 4,242 shares of CRISPR Therapeutics stock. The shares were sold at an average price of $66.60, for a total value of $282,517.20.

CRISPR Therapeutics Stock Performance

CRSP stock opened at $66.52 on Thursday. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of -12.25 and a beta of 1.84. CRISPR Therapeutics AG has a 1 year low of $30.04 and a 1 year high of $78.48. The stock’s fifty day moving average is $61.30 and its two-hundred day moving average is $50.78.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Monday, August 4th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.18. The company had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $6.44 million. CRISPR Therapeutics had a negative return on equity of 20.05% and a negative net margin of 1,229.43%.The firm’s quarterly revenue was up 72.5% compared to the same quarter last year. During the same period last year, the business posted ($1.49) earnings per share. As a group, analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CRSP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 target price on shares of CRISPR Therapeutics in a research note on Friday, October 10th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, September 23rd. Bank of America lifted their target price on CRISPR Therapeutics from $78.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $105.00 target price on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Ten analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $72.59.

Institutional Trading of CRISPR Therapeutics

Large investors have recently bought and sold shares of the stock. Abundance Wealth Counselors bought a new stake in shares of CRISPR Therapeutics during the third quarter worth $214,000. Bouvel Investment Partners LLC grew its holdings in shares of CRISPR Therapeutics by 1.9% during the third quarter. Bouvel Investment Partners LLC now owns 31,747 shares of the company’s stock worth $2,058,000 after buying an additional 586 shares in the last quarter. D.A. Davidson & CO. bought a new position in CRISPR Therapeutics in the third quarter valued at approximately $349,000. Western Pacific Wealth Management LP boosted its stake in shares of CRISPR Therapeutics by 560.0% during the 3rd quarter. Western Pacific Wealth Management LP now owns 3,300 shares of the company’s stock worth $214,000 after acquiring an additional 2,800 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in CRISPR Therapeutics during the 3rd quarter worth approximately $678,000. 69.20% of the stock is currently owned by institutional investors.

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.