Stock market today: S&P 500 drops for fifth day as focus shifts to Powell’s speech
James R. Kasinger, the General Counsel and Secretary of CRISPR Therapeutics AG (NASDAQ:CRSP), recently executed a series of transactions involving the company’s common shares. On March 21, Kasinger sold 3,185 shares at a price of $41.23 each, totaling $131,317. This transaction was part of a mandatory sale to cover tax obligations related to the vesting of restricted stock units. According to InvestingPro data, CRISPR Therapeutics maintains strong financial health with a current ratio of 22.07, holding more cash than debt on its balance sheet. The stock, currently trading at $42.62, has shown significant volatility over the past year.
In a related move on March 20, Kasinger acquired 6,250 common shares through the vesting of restricted stock units. This acquisition did not involve any cash transaction, as each unit represents a right to receive one share of common stock. Following these transactions, Kasinger holds 81,729 shares directly. The company, with a market capitalization of $3.66 billion, has seen its stock decline 42% over the past year. For comprehensive insider trading analysis and additional insights, InvestingPro subscribers can access detailed reports covering over 1,400 US stocks, including CRISPR Therapeutics.
In other recent news, CRISPR Therapeutics has been the focus of several analyst updates and adjustments. Citi analysts have maintained a Buy rating but reduced their price target to $82, citing the progress of Casgevy, which has expanded to over 50 treatment centers globally. In contrast, Evercore ISI has upgraded CRISPR Therapeutics from an In Line to an Outperform rating, raising the price target to $99 due to anticipated pivotal developments in the company’s pipeline, including in vivo programs CTX320 and CTX310. Meanwhile, Stifel analysts have taken a more cautious approach, lowering their price target to $49 and maintaining a Hold rating, reflecting concerns over the market uptake of Casgevy. TD Cowen has also revised its stance, upgrading CRISPR Therapeutics from Sell to Hold, with a steady price target of $35, noting reduced downside risk for the stock. The company’s financial position remains robust, with a reported cash reserve of $1.9 billion supporting ongoing research and development efforts. Investors are particularly watching for updates on CRISPR’s pipeline, including CTX112, which is expected to provide data by mid-2025. These recent developments highlight the varied outlooks from analysts on CRISPR Therapeutics’ future trajectory.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.