CRISPR Therapeutics CEO Samarth Kulkarni executed two back-to-back stock sales this week. The transactions caught investor attention and sent the stock lower.
Kulkarni sold 30,000 shares on January 20 at $51.75 per share. Two days later, he sold another 60,000 shares at $60.23 per share. The combined sales brought in roughly $5.17 million.
After the first sale, Kulkarni held 194,201 shares directly. Following the second transaction, his stake dropped to 134,201 shares. That’s a 40% reduction from his previous position of 224,201 shares.
Both sales were disclosed through SEC filings. The first sale represented a 13.38% decrease in his ownership. The second sale cut his stake by another 30.90%.
The stock reacted poorly to the news. CRSP shares fell 5.8% during Friday’s trading session. The stock traded as low as $57.21 before closing at $57.29.
Trading volume told another story. Only 681,870 shares changed hands during the session. That’s 62% below the average daily volume of 1.8 million shares.
Bank of America made a minor adjustment to its outlook. Analyst Alec Stranahan lowered the price target from $90 to $89. The firm maintained its Buy rating on the shares.
The revision came from slightly reduced expectations for Casgevy in 2026. However, BofA still anticipates continued sequential growth throughout the year.
Wall Street remains divided on CRISPR Therapeutics. Twelve analysts have Buy ratings on the stock. Eight have Hold ratings and two have Sell ratings.
The average price target sits at $68.15. That represents upside from current levels but a drop from earlier targets.
Royal Bank of Canada lifted its target from $42 to $50 following November earnings. They kept a sector perform rating. Robert W. Baird went the other direction, cutting its target from $52 to $44.
Citigroup maintained a Buy rating but reduced its price objective to $77 from $87. Citizens JMP assigned an $86 target with a market outperform rating.
CRISPR Therapeutics carries a market cap of $5.42 billion. The stock trades with a beta of 1.70, showing higher volatility than the broader market.
The 50-day moving average stands at $54.88. The 200-day moving average is $58.35. The stock hit a 12-month low of $30.04 and a high of $78.48.
Recent earnings showed a loss of $1.17 per share. That beat analyst estimates of a negative $1.32 per share. Revenue came in at $0.89 million for the quarter, missing expectations of $8.74 million.
The company posted a negative net margin of 1,273.70% and negative return on equity of 21.23%. Analysts project a loss of $5.16 per share for the current fiscal year.
Institutional ownership stands at 69.20%. Several funds adjusted their positions in the third quarter. Optiver Holding increased its stake by 71.4%. Bogart Wealth grew its holdings by 333.3%.
Bank of America’s latest adjustment to $89 represents the most recent analyst action on the stock.
The post CRISPR Therapeutics (CRSP) Stock: Insider Sales Total $5.17 Million This Week appeared first on CoinCentral.
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