CRISPR Therapeutics (NASDAQ:CRSP) Insider Naimish Patel Sells 3,786 Shares

CRISPR Therapeutics AG (NASDAQ:CRSP) insider Naimish Patel sold 3,786 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $55.62, for a total value of $210,577.32. Following the sale, the insider owned 19,357 shares of the company’s stock, valued at $1,076,636.34. This trade represents a 16.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Naimish Patel also recently made the following trade(s):

• On Monday, March 16th, Naimish Patel sold 3,150 shares of CRISPR Therapeutics stock. The stock was sold at an average price of $48.26, for a total value of $152,019.00.

CRISPR Therapeutics Stock Down 3.5%

CRISPR Therapeutics stock traded down $1.99 during trading on Monday, hitting $54.19. 1,423,251 shares of the company were exchanged, compared to its average volume of 1,853,357. The business’s 50 day moving average is $51.36 and its 200 day moving average is $53.12. CRISPR Therapeutics AG has a 52 week low of $36.08 and a 52 week high of $78.48. The company has a market capitalization of $5.23 billion, a P/E ratio of -8.71 and a beta of 1.74. The company has a current ratio of 17.97, a quick ratio of 17.96 and a debt-to-equity ratio of 0.32.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($1.28) earnings per share for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%.The business had revenue of $1.46 million during the quarter. Analysts predict that CRISPR Therapeutics AG will post -4.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CRSP shares. Sanford C. Bernstein raised their price objective on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Chardan Capital raised their price objective on shares of CRISPR Therapeutics from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Saturday, February 14th. Citigroup restated a “market outperform” rating on shares of CRISPR Therapeutics in a report on Wednesday, May 27th. Finally, Truist Financial upgraded shares of CRISPR Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.47.

Institutional Trading of CRISPR Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC lifted 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 purchasing an additional 735,084 shares in the last quarter. Orbis Allan Gray Ltd lifted its holdings in CRISPR Therapeutics by 19.4% during the 4th quarter. Orbis Allan Gray Ltd now owns 5,950,145 shares of the company’s stock worth $312,026,000 after purchasing an additional 968,060 shares in the last quarter. Capital International Investors lifted its holdings in CRISPR Therapeutics by 4.3% during the 4th quarter. Capital International Investors now owns 5,892,745 shares of the company’s stock worth $309,016,000 after purchasing an additional 243,487 shares in the last quarter. State Street Corp lifted 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 purchasing an additional 859,334 shares in the last quarter. Finally, GSK plc purchased a new stake in CRISPR Therapeutics during the 4th quarter worth about $168,890,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

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.