CRISPR Therapeutics (NASDAQ:CRSP) Stock Price Down 0.9% - Here's Why

CRISPR Therapeutics AG (NASDAQ:CRSP) experienced a decline of 0.9% in its share price during mid-day trading on Wednesday. The stock reached a low of $42.80 but was last seen trading at $43.04. Approximately 308,445 shares changed hands during this session, a significant drop of 86% from the average trading volume of 2,277,744 shares. The stock had closed at $43.45 the previous day.

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Analyst Ratings

CRISPR Therapeutics has been featured in various analyst reports recently. Cantor Fitzgerald maintained a "neutral" rating in a note published on February 19. In another report dated February 12, Needham & Company LLC reaffirmed a "buy" rating with a price target of $84.00. Additionally, HC Wainwright reiterated a "buy" rating with a $65.00 target price on February 13. Bank of America lowered its target from $98.00 to $85.00 while keeping a "buy" rating as of January 7. On the other hand, Morgan Stanley raised its target from $30.00 to $32.00 but assigned an "underweight" rating on February 14. Among analysts, two rated the stock as a sell, nine recommended holding, and twelve assigned a buy rating. MarketBeat.com reports a consensus rating of "Hold" and an average price target of $74.40.

Stock Performance Overview

The company's market capitalization stands at $3.76 billion, with a price-to-earnings (P/E) ratio of -10.04 and a beta of 1.67. The stock's fifty-day moving average is $42.57, while its 200-day average is $45.86.

CRISPR Therapeutics last reported its earnings on February 11, revealing an EPS of ($0.44), which surpassed analysts' expectations of ($1.15) by $0.71. However, the company faced a negative net margin of 981.54% and a negative return on equity of 18.46%. Looking ahead, analysts project an average EPS of -5.16 for the current fiscal year.

Insider Transactions

In recent insider news, CEO Samarth Kulkarni sold 18,360 shares of CRISPR Therapeutics on February 19 at an average price of $55.20, totaling $1,013,472. Following the sale, he retains ownership of 171,613 shares valued at approximately $9,473,037.60, marking a 9.66% reduction in his equity stake. Director John Greene also purchased 7,000 shares at an average cost of $44.85 per share on February 26, bringing his direct ownership to 7,000 shares valued at roughly $313,950. The total insider ownership in the company is around 4.10%.

Institutional Investment Trends

Several institutional shareholders have recently adjusted their stakes in CRISPR Therapeutics. Notably, ARK Investment Management LLC increased its position by 19.7% in the fourth quarter, acquiring an additional 1,474,439 shares, bringing its total holdings to 8,973,064 shares worth $353,180,000. Capital International Investors raised its stake by 10.3%, now possessing 8,743,523 shares valued at $344,145,000. T. Rowe Price Investment Management Inc. also boosted its stake by 39.2%, holding 3,811,708 shares worth $150,029,000. Other notable institutional increases include State Street Corp, which expanded its holdings by 25.0%, and FMR LLC which grew its position by 1.0%. Overall, institutional investors control 69.20% of CRISPR Therapeutics stock.

About CRISPR Therapeutics

CRISPR Therapeutics is a gene-editing company committed to developing innovative gene-based therapies for serious diseases. Utilizing its proprietary CRISPR/Cas9 technology, the company strives to introduce precise changes to genomic DNA. Its research spans diverse therapeutic areas, including hemoglobinopathies, oncology, regenerative medicine, and rare diseases.

CRISPR, Stocks, Investment