CRISPR Therapeutics (NASDAQ:CRSP) CEO Samarth Kulkarni Sells 60,000 Shares of Stock

CRISPR Therapeutics AG (NASDAQ:CRSP) CEO Samarth Kulkarni sold 60,000 shares of CRISPR Therapeutics stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $60.23, for a total transaction of $3,613,800.00. Following the completion of the transaction, the chief executive officer owned 134,201 shares in the company, valued at approximately $8,082,926.23. The trade was a 30.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Samarth Kulkarni also recently made the following trade(s):

• On Tuesday, January 20th, Samarth Kulkarni sold 30,000 shares of CRISPR Therapeutics stock. The shares were sold at an average price of $51.75, for a total transaction of $1,552,500.00.

CRISPR Therapeutics Trading Up 10.8%

CRSP opened at $60.66 on Friday. CRISPR Therapeutics AG has a 12 month low of $30.04 and a 12 month high of $78.48. The business’s 50-day moving average price is $54.88 and its 200-day moving average price is $58.35. The company has a market cap of $5.78 billion, a P/E ratio of -10.85 and a beta of 1.70.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.32) by $0.15. The business had revenue of $0.89 million for the quarter, compared to analyst estimates of $8.74 million. CRISPR Therapeutics had a negative return on equity of 21.23% and a negative net margin of 1,273.70%. Equities research analysts forecast that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company set a $75.00 target price on shares of CRISPR Therapeutics in a research note on Monday, October 13th. Wedbush decreased their price objective on shares of CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, December 23rd. Robert W. Baird cut their target price on CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Finally, Chardan Capital lowered their price target on CRISPR Therapeutics from $82.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.35.

Institutional Trading of CRISPR Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of CRISPR Therapeutics by 28.2% during the 1st quarter. Royal Bank of Canada now owns 142,696 shares of the company’s stock worth $4,856,000 after acquiring an additional 31,392 shares during the period. AQR Capital Management LLC bought a new stake in shares of CRISPR Therapeutics during the first quarter valued at approximately $861,000. Woodline Partners LP grew its stake in CRISPR Therapeutics by 34.3% in the first quarter. Woodline Partners LP now owns 136,483 shares of the company’s stock worth $4,645,000 after purchasing an additional 34,883 shares during the period. Voya Investment Management LLC raised its holdings in CRISPR Therapeutics by 60.2% in the first quarter. Voya Investment Management LLC now owns 13,870 shares of the company’s stock worth $472,000 after purchasing an additional 5,210 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in CRISPR Therapeutics during the second quarter valued at $903,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

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 β-thalassemia in collaboration with Vertex Pharmaceuticals.