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

CRISPR Therapeutics AG (NASDAQ:CRSP) insider Naimish Patel sold 3,786 shares of CRISPR Therapeutics stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $55.62, for a total transaction of $210,577.32. Following the transaction, the insider directly owned 19,357 shares in the company, valued at approximately $1,076,636.34. The trade was a 16.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $48.26, for a total transaction of $152,019.00.

CRISPR Therapeutics Stock Performance

Shares of CRSP stock opened at $52.02 on Wednesday. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of -8.36 and a beta of 1.74. The company’s 50 day moving average is $51.51 and its 200 day moving average is $53.11. 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 52-week low of $36.08 and a 52-week high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($1.28) earnings per share (EPS) for the quarter. The business 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%. On average, sell-side analysts anticipate that CRISPR Therapeutics AG will post -4.91 EPS for the current fiscal year.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in CRISPR Therapeutics by 5.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,516 shares of the company’s stock worth $228,000 after purchasing an additional 180 shares during the last quarter. Cerity Partners LLC grew its holdings in CRISPR Therapeutics by 3.0% in the second quarter. Cerity Partners LLC now owns 6,541 shares of the company’s stock worth $318,000 after purchasing an additional 190 shares during the last quarter. Peapack Gladstone Financial Corp grew its holdings in CRISPR Therapeutics by 3.0% in the second quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company’s stock worth $339,000 after purchasing an additional 200 shares during the last quarter. Optiver Holding B.V. grew its holdings in CRISPR Therapeutics by 71.4% in the third quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock worth $33,000 after purchasing an additional 210 shares during the last quarter. Finally, US Bancorp DE grew its holdings in CRISPR Therapeutics by 4.5% in the third quarter. US Bancorp DE now owns 5,777 shares of the company’s stock worth $374,000 after purchasing an additional 249 shares during the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRSP. Chardan Capital lifted their price objective on shares of CRISPR Therapeutics from $74.00 to $76.00 and gave the company a “buy” rating in a report on Saturday, February 14th. Needham & Company LLC lifted their price objective on shares of CRISPR Therapeutics from $80.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 13th. Citigroup reissued a “market outperform” rating on shares of CRISPR Therapeutics in a report on Wednesday, May 27th. Sanford C. Bernstein lifted their price objective on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.47.

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 ?-thalassemia in collaboration with Vertex Pharmaceuticals.