CRISPR Therapeutics (NASDAQ:CRSP) Shares Down 1.7% Following Weak Earnings

CRISPR Therapeutics AG (NASDAQ:CRSP) shares dropped 1.7% on Thursday following a weaker than expected earnings announcement. The stock traded as low as $51.58 and last traded at $52.37. Approximately 509,367 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 1,746,713 shares. The stock had previously closed at $53.29.

The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $25.53 million. During the same period in the prior year, the firm earned ($0.67) EPS. The business’s revenue was down 99.5% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research firms have commented on CRSP. Barclays dropped their price objective on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Thursday. Wolfe Research started coverage on shares of CRISPR Therapeutics in a research note on Thursday, February 15th. They set a “peer perform” rating on the stock. Robert W. Baird lifted their price target on CRISPR Therapeutics from $46.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday. Needham & Company LLC cut their price target on shares of CRISPR Therapeutics from $90.00 to $88.00 and set a “buy” rating for the company in a report on Thursday. Finally, Morgan Stanley raised their price objective on CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.67.

Insider Transactions at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 20,000 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the sale, the chief executive officer now owns 187,377 shares in the company, valued at approximately $15,057,615.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel James R. Kasinger sold 1,913 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the transaction, the general counsel now owns 57,371 shares of the company’s stock, valued at $4,570,747.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Samarth Kulkarni sold 20,000 shares of CRISPR Therapeutics stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the sale, the chief executive officer now directly owns 187,377 shares of the company’s stock, valued at $15,057,615.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,992 shares of company stock worth $6,132,335. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jump Financial LLC lifted its position in shares of CRISPR Therapeutics by 194.7% during the 3rd quarter. Jump Financial LLC now owns 33,307 shares of the company’s stock worth $1,512,000 after buying an additional 22,006 shares during the last quarter. Invesco Ltd. boosted its stake in CRISPR Therapeutics by 1.5% in the third quarter. Invesco Ltd. now owns 136,123 shares of the company’s stock valued at $6,179,000 after acquiring an additional 2,061 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of CRISPR Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after purchasing an additional 1,372,986 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of CRISPR Therapeutics during the fourth quarter worth about $206,000. Finally, Baker Chad R lifted its holdings in shares of CRISPR Therapeutics by 89.1% in the 4th quarter. Baker Chad R now owns 98,520 shares of the company’s stock valued at $6,167,000 after purchasing an additional 46,420 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

CRISPR Therapeutics Trading Down 1.7 %

The stock has a market cap of $4.45 billion, a PE ratio of -26.72 and a beta of 1.80. The business has a 50 day moving average of $65.81 and a 200-day moving average of $64.64.

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.