CRISPR Therapeutics (NASDAQ:CRSP) CEO Samarth Kulkarni Sells 10,349 Shares

CRISPR Therapeutics AG (NASDAQ:CRSP) CEO Samarth Kulkarni sold 10,349 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $48.26, for a total transaction of $499,442.74. Following the transaction, the chief executive officer owned 245,834 shares of the company’s stock, valued at approximately $11,863,948.84. This trade represents a 4.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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 stock was sold at an average price of $60.23, for a total transaction of $3,613,800.00.

CRISPR Therapeutics Stock Performance

CRISPR Therapeutics stock opened at $50.09 on Wednesday. The firm 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. The firm’s 50 day moving average price is $53.80 and its two-hundred day moving average price is $57.24.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($1.37) EPS 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 analyst estimates of $4.72 million. CRISPR Therapeutics had a negative net margin of 16,569.77% and a negative return on equity of 26.31%. CRISPR Therapeutics’s revenue was down 97.8% on a year-over-year basis. During the same quarter last year, the company posted ($1.01) EPS. As a group, equities analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

CRISPR Therapeutics News Roundup

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.

Hedge Funds Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Mcguire Capital Advisors Inc. purchased a new stake in shares of CRISPR Therapeutics during the fourth quarter worth $25,000. Ramirez Asset Management Inc. acquired a new stake in CRISPR Therapeutics during the fourth quarter valued at $26,000. Optiver Holding B.V. grew its stake in CRISPR Therapeutics by 71.4% in the third quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock valued at $33,000 after purchasing an additional 210 shares in the last quarter. Thompson Investment Management Inc. purchased a new position in CRISPR Therapeutics in the third quarter valued at about $33,000. Finally, Strategic Advocates LLC acquired a new position in CRISPR Therapeutics in the 3rd quarter worth about $34,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRSP has been the subject of several recent analyst reports. Citizens Jmp decreased their target price 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. Evercore reissued an “outperform” rating and set a $74.00 price target on shares of CRISPR Therapeutics in a research report on Friday, February 13th. TD Cowen increased their price objective on CRISPR Therapeutics from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Bank of America lowered their target price on CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $33.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, February 17th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, CRISPR Therapeutics presently has an average rating of “Hold” and a consensus price target of $64.53.

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.