Samarth Kulkarni Sells 10,020 Shares of CRISPR Therapeutics (NASDAQ:CRSP) Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) CEO Samarth Kulkarni sold 10,020 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $46.78, for a total value of $468,735.60. Following the completion of the transaction, the chief executive officer directly owned 255,501 shares in the company, valued at approximately $11,952,336.78. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, March 16th, Samarth Kulkarni sold 10,349 shares of CRISPR Therapeutics stock. The shares were sold at an average price of $48.26, for a total transaction of $499,442.74.
• On Wednesday, March 11th, Samarth Kulkarni sold 9,798 shares of CRISPR Therapeutics stock. The stock was sold at an average price of $52.80, for a total transaction of $517,334.40.
• On Thursday, February 19th, Samarth Kulkarni sold 6,967 shares of CRISPR Therapeutics stock. The stock was sold at an average price of $52.58, for a total transaction of $366,324.86.
• On Tuesday, January 20th, Samarth Kulkarni sold 30,000 shares of CRISPR Therapeutics stock. The shares were sold at an average price of $51.75, for a total transaction of $1,552,500.00.
• On Thursday, January 22nd, Samarth Kulkarni sold 60,000 shares of CRISPR Therapeutics stock. The shares were sold at an average price of $60.23, for a total transaction of $3,613,800.00.

CRISPR Therapeutics Price Performance

Shares of NASDAQ:CRSP opened at $47.55 on Friday. The business’s 50 day simple moving average is $52.57 and its 200 day simple moving average is $56.89. CRISPR Therapeutics AG has a 1 year low of $30.04 and a 1 year high of $78.48. The company has a market capitalization of $4.56 billion, a P/E ratio of -7.29 and a beta of 1.72.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Thursday, February 12th. The company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.22). The company had revenue of $0.86 million for the quarter, compared to the consensus estimate of $4.72 million. CRISPR Therapeutics had a negative net margin of 16,569.77% and a negative return on equity of 26.31%. The business’s revenue was down 97.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.01) earnings per share. On average, sell-side analysts anticipate that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on CRSP shares. Truist Financial raised shares of CRISPR Therapeutics to a “strong-buy” rating in a research note on Wednesday. Evercore reiterated an “outperform” rating and issued a $74.00 price target on shares of CRISPR Therapeutics in a research note on Friday, February 13th. Citizens Jmp dropped their price objective on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a research report on Friday, January 30th. Chardan Capital upped their price objective on CRISPR Therapeutics from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, CRISPR Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $64.53.

Institutional Trading of CRISPR Therapeutics

Hedge funds have recently made changes to their positions in the company. GSK plc acquired a new position in shares of CRISPR Therapeutics in the fourth quarter valued at approximately $168,890,000. Orbis Allan Gray Ltd boosted its position in CRISPR Therapeutics by 76.9% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock worth $134,467,000 after buying an additional 1,201,600 shares during the period. SR One Capital Management LP boosted its position in CRISPR Therapeutics by 94.4% during the 3rd quarter. SR One Capital Management LP now owns 2,038,763 shares of the company’s stock worth $132,132,000 after buying an additional 989,812 shares during the period. State Street Corp grew its holdings in CRISPR Therapeutics by 35.6% during the 2nd quarter. State Street Corp now owns 3,270,596 shares of the company’s stock worth $159,082,000 after acquiring an additional 859,334 shares during the last quarter. Finally, ARK Investment Management LLC grew its holdings in CRISPR Therapeutics by 7.5% during the 4th quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock worth $551,777,000 after acquiring an additional 735,084 shares during the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.