CRISPR Therapeutics (NASDAQ:CRSP) General Counsel James Kasinger Sells 3,450 Shares

CRISPR Therapeutics AG (NASDAQ:CRSP) General Counsel James Kasinger sold 3,450 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 $166,497.00. Following the transaction, the general counsel directly owned 91,240 shares of the company’s stock, valued at approximately $4,403,242.40. The trade was a 3.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

CRISPR Therapeutics Trading Up 3.4%

CRSP stock opened at $50.09 on Wednesday. The stock has a market capitalization of $4.81 billion, a P/E ratio of -7.68 and a beta of 1.72. The firm has a 50-day moving average price of $53.80 and a 200-day moving average price of $57.24. CRISPR Therapeutics AG has a 12 month low of $30.04 and a 12 month high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Thursday, February 12th. The company reported ($1.37) earnings per share (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 return on equity of 26.31% and a negative net margin of 16,569.77%.CRISPR Therapeutics’s revenue for the quarter was down 97.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.01) earnings per share. As a group, equities analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Key Headlines Impacting CRISPR Therapeutics

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.

Analysts Set New Price Targets

Several research firms recently weighed in on CRSP. TD Cowen raised their price objective on CRISPR Therapeutics from $40.00 to $45.00 and gave the company a “hold” rating in a report on Friday, February 13th. Citizens Jmp cut their price target on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating on the stock in a research note on Friday, January 30th. Needham & Company LLC upped their price objective on CRISPR Therapeutics from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Morgan Stanley reiterated an “underweight” rating and issued a $33.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, February 17th. Finally, Citigroup reissued a “buy” rating on shares of CRISPR Therapeutics in a report on Monday, February 16th. Ten research 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 has a consensus rating of “Hold” and a consensus price target of $64.53.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of CRISPR Therapeutics by 5.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,516 shares of the company’s stock valued at $228,000 after buying an additional 180 shares during the last quarter. Cerity Partners LLC raised its position in CRISPR Therapeutics by 3.0% in the 2nd quarter. Cerity Partners LLC now owns 6,541 shares of the company’s stock valued at $318,000 after buying an additional 190 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in CRISPR Therapeutics by 3.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company’s stock valued at $339,000 after acquiring an additional 200 shares in the last quarter. Optiver Holding B.V. lifted its stake in CRISPR Therapeutics by 71.4% during the 3rd quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock valued at $33,000 after acquiring an additional 210 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. boosted its holdings in CRISPR Therapeutics by 0.9% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 25,198 shares of the company’s stock worth $1,633,000 after acquiring an additional 230 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

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 ?-thalassemia in collaboration with Vertex Pharmaceuticals.