CRISPR Therapeutics (NASDAQ:CRSP) Reaches New 52-Week Low – Here’s Why

CRISPR Therapeutics AG (NASDAQ:CRSP) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $40.61 and last traded at $41.06, with a volume of 2372453 shares. The stock had previously closed at $44.63.

Analyst Ratings Changes

Several research firms have weighed in on CRSP. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $53.00 price target on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 target price on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. Barclays cut their price target on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Chardan Capital restated a “buy” rating and set a $94.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, December 10th. Finally, StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.93.

CRISPR Therapeutics Stock Performance

The stock has a market cap of $3.50 billion, a P/E ratio of -14.51 and a beta of 1.62. The business has a 50 day simple moving average of $48.67 and a 200-day simple moving average of $50.96.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.41. The business had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. During the same quarter last year, the company posted ($1.41) earnings per share. On average, sell-side analysts predict that CRISPR Therapeutics AG will post -5.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the sale, the general counsel now owns 62,597 shares of the company’s stock, valued at $2,896,989.16. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Samarth Kulkarni sold 4,293 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $198,680.04. Following the sale, the chief executive officer now owns 226,540 shares in the company, valued at $10,484,271.20. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,382 shares of company stock valued at $2,744,179. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in shares of CRISPR Therapeutics by 2,932.7% during the 2nd quarter. Blue Trust Inc. now owns 1,486 shares of the company’s stock valued at $80,000 after purchasing an additional 1,437 shares during the period. Raymond James & Associates increased its position in shares of CRISPR Therapeutics by 10.0% during the second quarter. Raymond James & Associates now owns 38,433 shares of the company’s stock valued at $2,076,000 after buying an additional 3,479 shares during the period. Slow Capital Inc. lifted its holdings in shares of CRISPR Therapeutics by 17.2% in the second quarter. Slow Capital Inc. now owns 79,216 shares of the company’s stock worth $4,278,000 after buying an additional 11,647 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of CRISPR Therapeutics in the second quarter valued at approximately $46,000. Finally, Baillie Gifford & Co. grew its stake in CRISPR Therapeutics by 2.4% during the second quarter. Baillie Gifford & Co. now owns 405,425 shares of the company’s stock valued at $21,897,000 after acquiring an additional 9,510 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.