Crispr Therapeutics shares tumble after significant earnings miss
Dave Schaeffer, Chairman, CEO, and President of Cogent Communications Holdings, Inc. (NASDAQ:CCOI), has recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Schaeffer sold a total of 55,000 shares of common stock on June 11, 2025. This sale comes as the stock has declined over 33% in the past six months, according to InvestingPro data. The sales were executed at prices ranging from $48.3511 to $48.5472 per share, resulting in a total transaction value of approximately $2.67 million.
Following these transactions, Schaeffer retains ownership of 3,536,721 shares. The sales were conducted as part of Schaeffer’s direct ownership in the company.
In other recent news, Cogent Communications Holdings, Inc. reported its first-quarter 2025 earnings, revealing a slight miss on both earnings per share (EPS) and revenue compared to forecasts. The company’s EPS was -1.09 USD, against a forecast of -1.05 USD, while revenue reached 247 million USD, falling short of the projected 251.36 million USD. Despite the revenue shortfall, EBITDA as adjusted increased by 1.9% to 68.8 million USD, and the gross margin improved by 790 basis points from the previous year. In a separate development, Cogent announced a $600 million senior secured notes offering, intending to use part of the proceeds to redeem existing notes due in 2026.
Analyst updates have also been notable, with Citi lowering Cogent’s stock price target to $67 while maintaining a Buy rating, citing mixed performance across its verticals. JPMorgan adjusted its target to $62, maintaining a Neutral stance, following weaker first-quarter results. Additionally, Cogent has updated its incentive plan and bylaws, increasing the number of shares available for issuance and extending the award plan to 2035. These developments reflect ongoing strategic adjustments amid financial challenges and market conditions.
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