Insider Selling: CRISPR Therapeutics (NASDAQ:CRSP) Insider Sells $210,577.32 in Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) insider Naimish Patel sold 3,786 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $55.62, for a total transaction of $210,577.32. Following the completion of the sale, the insider directly owned 19,357 shares in the company, valued at approximately $1,076,636.34. This trade represents a 16.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $152,019.00.

CRISPR Therapeutics Stock Up 0.1%

CRSP stock opened at $52.08 on Thursday. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32. CRISPR Therapeutics AG has a fifty-two week low of $37.02 and a fifty-two week high of $78.48. The firm’s 50-day simple moving average is $51.73 and its 200 day simple moving average is $53.12. The stock has a market cap of $5.02 billion, a PE ratio of -8.37 and a beta of 1.74.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Tuesday, March 31st. The company reported ($1.28) EPS for the quarter. The company had revenue of $1.46 million for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. As a group, sell-side analysts predict that CRISPR Therapeutics AG will post -4.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and set a $110.00 target price (up from $105.00) on shares of CRISPR Therapeutics in a research note on Tuesday, March 17th. Morgan Stanley reissued an “underweight” rating and set a $33.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, February 17th. TD Cowen raised their target price on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Evercore reissued an “outperform” rating and set a $76.00 target price on shares of CRISPR Therapeutics in a research note on Monday, May 11th. Finally, Sanford C. Bernstein raised their target price on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. One research 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.47.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of CRISPR Therapeutics by 98.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 593,416 shares of the company’s stock worth $38,459,000 after purchasing an additional 294,222 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of CRISPR Therapeutics by 44.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 283,111 shares of the company’s stock worth $18,348,000 after acquiring an additional 87,509 shares in the last quarter. O Neil Global Advisors Inc. purchased a new position in shares of CRISPR Therapeutics in the third quarter worth approximately $10,934,000. UBS Group AG increased its position in shares of CRISPR Therapeutics by 7.7% in the fourth quarter. UBS Group AG now owns 2,524,144 shares of the company’s stock worth $132,366,000 after acquiring an additional 180,580 shares in the last quarter. Finally, SR One Capital Management LP increased its position in shares of CRISPR Therapeutics by 94.4% in the third quarter. SR One Capital Management LP now owns 2,038,763 shares of the company’s stock worth $132,132,000 after acquiring an additional 989,812 shares in the last quarter. Institutional investors and hedge funds 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.