In a recent filing with the Securities and Exchange Commission, CRISPR Therapeutics AG (NASDAQ:CRSP), a $4.4 billion market cap biotech company with a "GOOD" InvestingPro Financial Health score, disclosed that its Chief Executive Officer, Samarth Kulkarni, sold 15,000 common shares of the company. The sale, executed on December 2, 2024, was conducted under a Rule 10b5-1 trading plan adopted by Kulkarni in June 2024. The shares were sold at a weighted average price of $55.1043 per share, resulting in a total transaction value of approximately $826,564. According to InvestingPro data, the stock currently trades at $51.13, with notable price volatility and strong cash position exceeding debt levels.
Following the sale, Kulkarni holds 181,540 shares directly. Additionally, he possesses 85,622 shares indirectly through The Kulkarni 2023 GRAT. The sales were made in multiple transactions, with prices ranging from $55.00 to $55.33 per share. Get access to 10 more exclusive InvestingPro Tips and comprehensive analysis in our Pro Research Report, helping you make more informed investment decisions.
In other recent news, CRISPR Therapeutics has been under the microscope of several financial firms following its recent developments. TD Cowen reiterated its Sell rating on CRISPR Therapeutics, pointing to the company's performance and clinical data. Despite the increase in the number of patients with collected cells for Casgevy treatment, the firm maintained its cautious stance. Oppenheimer, on the other hand, maintained its Outperform rating, highlighting the company's progress across various programs and its collaboration with Vertex Pharmaceuticals (NASDAQ:VRTX).
Leerink Partners adjusted its price target for CRISPR Therapeutics to $67, while maintaining an Outperform rating. The firm's decision comes after the company's third-quarter results and updates on its pipeline. CRISPR Therapeutics, in collaboration with Vertex, has activated over 45 treatment centers and about 40 patients worldwide have completed at least one cell collection.
These recent developments underline the ongoing efforts of CRISPR Therapeutics to advance its gene editing pipeline. The company is also preparing to present Phase 1 data for CTX112, a treatment for CD19+ B-cell malignancies. Despite the lack of sales, there was progress in patient engagement for Casgevy. CRISPR Therapeutics is currently advancing its pipeline with CTX131 and CTX112, which have entered Phase I studies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.