CRISPR Therapeutics (NASDAQ:CRSP) Stock: Insider Samarth Kulkarni Sells 47,837 Shares

CRISPR Therapeutics AG (NASDAQ:CRSP) CEO Samarth Kulkarni sold 47,837 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $49.78, for a total value of $2,381,325.86. Following the completion of the sale, the chief executive officer owned 311,899 shares in the company, valued at $15,526,332.22. The trade was a 13.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, October 14th, Samarth Kulkarni sold 4,098 shares of CRISPR Therapeutics stock. The shares were sold at an average price of $49.26, for a total value of $201,867.48.

CRISPR Therapeutics Stock Down 0.3%

NASDAQ:CRSP traded down $0.16 during trading hours on Tuesday, reaching $49.88. 2,155,554 shares of the company traded hands, compared to its average volume of 1,746,251. The business’s 50-day moving average price is $54.92 and its two-hundred day moving average price is $53.29. The stock has a market capitalization of $4.82 billion, a P/E ratio of -10.48 and a beta of 1.76. CRISPR Therapeutics AG has a 1 year low of $44.12 and a 1 year high of $75.06. The company has a current ratio of 17.85, a quick ratio of 17.85 and a debt-to-equity ratio of 0.34.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Tuesday, June 30th. The company reported ($0.94) EPS for the quarter. CRISPR Therapeutics had a negative return on equity of 24.39% and a negative net margin of 3,368.72%. The company had revenue of $10.18 million during the quarter. Analysts predict that CRISPR Therapeutics AG will post -4.48 earnings per share for the current year.

Institutional Trading of CRISPR Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank raised its position in CRISPR Therapeutics by 5.1% in the first quarter. Swiss National Bank now owns 169,700 shares of the company’s stock worth $8,073,000 after acquiring an additional 8,200 shares during the period. Affinity Asset Advisors LLC purchased a new stake in CRISPR Therapeutics in the 1st quarter worth approximately $7,136,000. KBC Group NV raised its stake in CRISPR Therapeutics by 3,999.9% during the 1st quarter. KBC Group NV now owns 116,847 shares of the company’s stock worth $5,558,000 after acquiring an additional 113,997 shares during the period. Congress Asset Management Co. raised its stake in CRISPR Therapeutics by 1.6% during the 3rd quarter. Congress Asset Management Co. now owns 111,230 shares of the company’s stock worth $6,153,000 after acquiring an additional 1,777 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in CRISPR Therapeutics by 29.6% during the first quarter. California State Teachers Retirement System now owns 101,232 shares of the company’s stock valued at $4,816,000 after purchasing an additional 23,109 shares in the last quarter. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRSP. UBS Group assumed coverage on CRISPR Therapeutics in a research report on Thursday, October 15th. They issued a “neutral” rating and a $52.00 price target for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 price objective on shares of CRISPR Therapeutics in a research report on Thursday, August 6th. Needham & Company LLC reissued a “buy” rating and set a $82.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating on shares of CRISPR Therapeutics in a report on Friday, October 9th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.75.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG (NASDAQ: CRSP) is a biotechnology company focused on developing transformative gene-based medicines using CRISPR/Cas9 gene-editing technology. The company’s research programs are designed to address genetic diseases by precisely modifying DNA in cells, with applications across hematology, immunology, oncology, regenerative medicine and cardiovascular disease.

Its lead commercial product is CASGEVY, an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals.