CRISPR Therapeutics AG (NASDAQ:CRSP) Shares Acquired by Hedges Asset Management LLC

by · The Cerbat Gem

Hedges Asset Management LLC increased its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP – Free Report) by 20.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,350 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. Hedges Asset Management LLC’s holdings in CRISPR Therapeutics were worth $999,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CRSP. Tyche Wealth Partners LLC boosted its stake in shares of CRISPR Therapeutics by 10.2% in the 1st quarter. Tyche Wealth Partners LLC now owns 9,185 shares of the company’s stock valued at $313,000 after buying an additional 850 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in CRISPR Therapeutics by 14.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,189 shares of the company’s stock worth $1,334,000 after acquiring an additional 4,914 shares during the last quarter. Mason & Associates Inc acquired a new position in CRISPR Therapeutics during the 1st quarter worth approximately $201,000. Sowell Financial Services LLC increased its position in shares of CRISPR Therapeutics by 8.4% in the 1st quarter. Sowell Financial Services LLC now owns 11,554 shares of the company’s stock valued at $393,000 after purchasing an additional 900 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of CRISPR Therapeutics by 55.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,703 shares of the company’s stock valued at $364,000 after purchasing an additional 3,827 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRSP has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $81.00 target price on shares of CRISPR Therapeutics in a research note on Thursday. Chardan Capital reiterated a “buy” rating and issued a $82.00 price objective on shares of CRISPR Therapeutics in a report on Thursday. JMP Securities restated a “market outperform” rating and set a $86.00 target price on shares of CRISPR Therapeutics in a research note on Wednesday, May 21st. HC Wainwright reaffirmed a “buy” rating and issued a $65.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group dropped their price target on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, CRISPR Therapeutics currently has an average rating of “Hold” and an average price target of $69.53.

Read Our Latest Analysis on CRISPR Therapeutics

CRISPR Therapeutics Price Performance

Shares of NASDAQ:CRSP opened at $46.70 on Friday. CRISPR Therapeutics AG has a 1-year low of $30.04 and a 1-year high of $63.68. The stock has a market cap of $4.03 billion, a P/E ratio of -10.33 and a beta of 1.75. The firm has a fifty day moving average price of $39.28 and a 200 day moving average price of $40.56.

CRISPR Therapeutics (NASDAQ:CRSP – Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($1.58) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 1,023.64% and a negative return on equity of 20.08%. During the same quarter in the previous year, the firm earned ($1.43) earnings per share. The firm’s quarterly revenue was up 71.6% on a year-over-year basis. Sell-side analysts expect that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other news, insider Naimish Patel sold 3,932 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $35.94, for a total transaction of $141,316.08. Following the completion of the sale, the insider now owns 6,068 shares in the company, valued at $218,083.92. This represents a 39.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is currently owned by insiders.

CRISPR Therapeutics Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CRSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CRISPR Therapeutics AG (NASDAQ:CRSP – Free Report).