CRISPR Therapeutics (NASDAQ:CRSP) General Counsel James Kasinger Sells 1,990 Shares of Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) General Counsel James Kasinger sold 1,990 shares of CRISPR Therapeutics stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $60.04, for a total transaction of $119,479.60. Following the completion of the transaction, the general counsel directly owned 94,784 shares of the company’s stock, valued at approximately $5,690,831.36. This trade represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CRISPR Therapeutics Stock Down 3.6%

Shares of CRSP stock opened at $50.44 on Friday. CRISPR Therapeutics AG has a 52-week low of $44.12 and a 52-week high of $78.38. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of -10.60 and a beta of 1.76. The firm’s 50-day moving average is $55.03 and its 200-day moving average is $53.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 17.85 and a current ratio of 17.85.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share for the quarter. CRISPR Therapeutics had a negative return on equity of 24.39% and a negative net margin of 3,368.72%.The business had revenue of $10.18 million for the quarter. Sell-side analysts predict that CRISPR Therapeutics AG will post -4.47 EPS for the current year.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc increased its position in CRISPR Therapeutics by 175.1% during the second quarter. Versant Capital Management Inc now owns 465 shares of the company’s stock worth $25,000 after acquiring an additional 296 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of CRISPR Therapeutics during the 2nd quarter worth approximately $56,000. Hollencrest Capital Management grew its position in shares of CRISPR Therapeutics by 249.9% during the 1st quarter. Hollencrest Capital Management now owns 1,312 shares of the company’s stock worth $62,000 after purchasing an additional 937 shares in the last quarter. Strategic Advocates LLC grew its position in shares of CRISPR Therapeutics by 127.6% during the 4th quarter. Strategic Advocates LLC now owns 1,195 shares of the company’s stock worth $64,000 after purchasing an additional 670 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of CRISPR Therapeutics by 92.0% during the third quarter. GAMMA Investing LLC now owns 1,246 shares of the company’s stock worth $69,000 after purchasing an additional 597 shares during the period. Institutional investors and hedge funds own 69.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Friday, July 17th. HC Wainwright reiterated a “buy” rating on shares of CRISPR Therapeutics in a report on Monday, August 31st. Needham & Company LLC restated a “buy” rating and set a $82.00 target price on shares of CRISPR Therapeutics in a research note on Monday, August 31st. Citizens Jmp reaffirmed a “market outperform” rating and set a $80.00 target price on shares of CRISPR Therapeutics in a report on Monday, August 31st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 price target on shares of CRISPR Therapeutics in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.94.

About CRISPR Therapeutics

CRISPR Therapeutics AG (NASDAQ: CRSP) is a biotechnology company focused on developing gene-editing medicines based on CRISPR/Cas9 technology. The company aims to treat serious diseases by precisely modifying genetic material in patients’ cells, with research programs spanning hematology, oncology, autoimmune diseases, and regenerative medicine.

Its lead product, CASGEVY (exagamglogene autotemcel), is a CRISPR/Cas9-based cell therapy developed with Vertex Pharmaceuticals. CASGEVY is approved in multiple markets, including the United States, United Kingdom, and European Union, for certain patients with sickle cell disease and transfusion-dependent beta thalassemia.