CRISPR Therapeutics (NASDAQ:CRSP) Insider Naimish Patel Sells 3,150 Shares of Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) insider Naimish Patel sold 3,150 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $48.26, for a total value of $152,019.00. Following the transaction, the insider directly owned 13,143 shares of the company’s stock, valued at $634,281.18. The trade was a 19.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

CRISPR Therapeutics Trading Up 3.4%

CRSP stock opened at $50.09 on Wednesday. The company’s 50 day moving average is $53.80 and its 200 day moving average is $57.24. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of -7.68 and a beta of 1.72. CRISPR Therapeutics AG has a 1-year low of $30.04 and a 1-year high of $78.48.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mcguire Capital Advisors Inc. purchased a new position in shares of CRISPR Therapeutics in the fourth quarter worth $25,000. Ramirez Asset Management Inc. bought a new stake in CRISPR Therapeutics during the 4th quarter valued at $26,000. Rothschild Investment LLC boosted its position in CRISPR Therapeutics by 836.7% during the 4th quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock valued at $29,000 after buying an additional 502 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in CRISPR Therapeutics by 196.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company’s stock valued at $30,000 after buying an additional 382 shares during the period. Finally, Thompson Investment Management Inc. bought a new stake in CRISPR Therapeutics in the 3rd quarter worth $33,000. Institutional investors own 69.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of CRISPR Therapeutics in a research report on Monday, February 16th. Evercore reaffirmed an “outperform” rating and set a $74.00 price target on shares of CRISPR Therapeutics in a research note on Friday, February 13th. Citizens Jmp cut their price objective on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a report on Friday, January 30th. Bank of America reduced their price objective on CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Finally, Chardan Capital boosted their target price on CRISPR Therapeutics from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Saturday, February 14th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.53.

More CRISPR Therapeutics News

Here are the key news stories impacting CRISPR Therapeutics this week:

• Positive Sentiment: Piper Sandler reaffirmed an “overweight” rating and raised its price target to $110, implying material upside and signaling stronger analyst confidence in CRSP’s clinical and commercial prospects. Read More.
• Neutral Sentiment: CRISPR completed a $600 million private convertible notes offering on March 16 that boosts near-term liquidity and funding flexibility for R&D/operations but could lead to future dilution if notes convert. Investors will weigh cash runway benefits against potential dilution and interest/convertible terms. Read More.
• Negative Sentiment: CEO Samarth Kulkarni sold 10,349 shares at an average $48.26 on March 16 (~$499k), reducing his stake by ~4.04%; the sale was disclosed in an SEC filing. Insider selling can be read as profit-taking or diversification and may raise short-term investor concern. Read More.
• Negative Sentiment: General Counsel James Kasinger sold 3,450 shares at an average $48.26 (~$166k) on March 16, decreasing his stake by ~3.64%; disclosed in an SEC filing. Additional insider sales add to near-term bearish signaling. Read More.
• Negative Sentiment: Insider Naimish Patel sold 3,150 shares at an average $48.26 (~$152k) on March 16, cutting his position by ~19.33%; the sale was reported in an SEC filing. Multiple insiders selling on the same date strengthens the perception of distribution risk for some traders. Read More.

CRISPR Therapeutics Company Profile

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.