Caitong International Asset Management Co. Ltd Raises Stake in CRISPR Therapeutics AG $CRSP

Caitong International Asset Management Co. Ltd lifted its position in CRISPR Therapeutics AG (NASDAQ:CRSP) by 1,923.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,841 shares of the company’s stock after acquiring an additional 1,750 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in CRISPR Therapeutics were worth $90,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CRSP. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CRISPR Therapeutics by 182.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company’s stock valued at $66,452,000 after acquiring an additional 1,262,560 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of CRISPR Therapeutics by 13.3% during the first quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company’s stock valued at $345,929,000 after acquiring an additional 1,192,336 shares in the last quarter. Millennium Management LLC increased its holdings in shares of CRISPR Therapeutics by 6,769.1% during the first quarter. Millennium Management LLC now owns 583,733 shares of the company’s stock valued at $19,864,000 after acquiring an additional 575,235 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of CRISPR Therapeutics during the second quarter valued at about $6,615,000. Finally, Orbis Allan Gray Ltd increased its holdings in shares of CRISPR Therapeutics by 5.9% during the first quarter. Orbis Allan Gray Ltd now owns 1,562,932 shares of the company’s stock valued at $53,187,000 after acquiring an additional 86,813 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Samarth Kulkarni sold 50,895 shares of the stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $67.91, for a total transaction of $3,456,279.45. Following the transaction, the chief executive officer owned 254,201 shares in the company, valued at $17,262,789.91. This trade represents a 16.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 1,076 shares of the stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total value of $71,661.60. Following the transaction, the general counsel owned 83,402 shares in the company, valued at $5,554,573.20. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,213 shares of company stock worth $3,810,458 in the last quarter. Insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CRSP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Friday. Zacks Research upgraded CRISPR Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, September 23rd. Piper Sandler restated an “overweight” rating and issued a $105.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Finally, Wells Fargo & Company set a $75.00 price objective on CRISPR Therapeutics in a research report on Monday, October 13th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.59.

CRISPR Therapeutics Trading Up 0.6%

CRISPR Therapeutics stock opened at $67.61 on Friday. CRISPR Therapeutics AG has a 12 month low of $30.04 and a 12 month high of $78.48. The firm has a market cap of $6.15 billion, a PE ratio of -12.45 and a beta of 1.84. The stock’s 50 day simple moving average is $61.62 and its two-hundred day simple moving average is $51.27.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Monday, August 4th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.18. CRISPR Therapeutics had a negative return on equity of 20.05% and a negative net margin of 1,229.43%.The firm had revenue of $0.89 million for the quarter, compared to analyst estimates of $6.44 million. During the same quarter last year, the firm posted ($1.49) EPS. The business’s revenue was up 72.5% on a year-over-year basis. On average, equities research analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

About CRISPR Therapeutics

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.