Canal Insurance CO acquired a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 35,100 shares of the company’s stock, valued at approximately $1,670,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of CRISPR Therapeutics by 28.2% in the 1st quarter. Royal Bank of Canada now owns 142,696 shares of the company’s stock worth $4,856,000 after buying an additional 31,392 shares during the last quarter. AQR Capital Management LLC acquired a new stake in CRISPR Therapeutics during the first quarter worth about $861,000. Woodline Partners LP lifted its holdings in CRISPR Therapeutics by 34.3% in the first quarter. Woodline Partners LP now owns 136,483 shares of the company’s stock worth $4,645,000 after acquiring an additional 34,883 shares during the last quarter. Prudential Financial Inc. bought a new position in CRISPR Therapeutics in the second quarter worth about $237,000. Finally, Invesco Ltd. boosted its stake in CRISPR Therapeutics by 138.4% in the second quarter. Invesco Ltd. now owns 66,648 shares of the company’s stock valued at $3,242,000 after acquiring an additional 38,691 shares during the period. Institutional investors and hedge funds own 69.20% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently commented on CRSP. UBS Group set a $80.00 target price on CRISPR Therapeutics in a report on Friday, June 12th. Morgan Stanley set a $60.00 price target on CRISPR Therapeutics and gave the stock an “equal weight” rating in a report on Thursday, June 11th. Citizens Jmp restated a “market outperform” rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, July 6th. Sanford C. Bernstein upped their price objective on CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (up from $105.00) on shares of CRISPR Therapeutics in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, CRISPR Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $67.78.
CRISPR Therapeutics Stock Performance
CRSP stock opened at $50.63 on Tuesday. The company has a market capitalization of $4.88 billion, a P/E ratio of -8.14 and a beta of 1.71. The company has a 50-day simple moving average of $53.43 and a 200 day simple moving average of $53.09. CRISPR Therapeutics AG has a fifty-two week low of $44.12 and a fifty-two week high of $78.48. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32.
CRISPR Therapeutics (NASDAQ:CRSP – Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported ($1.28) EPS for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. The company had revenue of $1.46 million for the quarter. Sell-side analysts predict that CRISPR Therapeutics AG will post -4.89 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Naimish Patel sold 3,786 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $55.62, for a total transaction of $210,577.32. Following the sale, the insider owned 19,357 shares of the company’s stock, valued at $1,076,636.34. The trade was a 16.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.10% of the stock is owned by company insiders.
About CRISPR Therapeutics
CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.
Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.
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