ARK Investment Management LLC recently announced the acquisition of new stake in CRISPR Therapeutics AG (NASDAQ:CRSP). The institutional investor has increased its shareholding in the Healthcare company by 51.28% to 6.48 million shares with purchase of 2.2 million shares. This fresh investment now brings its stake to 9.24% valued currently at $554.06 million. In addition, T. Rowe Price Associates, Inc. (I. raised its holdings by 0.36 million to 1.38 million shares. And Ivy Investment Management Co. has lifted its position by 0.00% or 7.0 shares – to 1.03 million shares.
With over 1.12 million CRISPR Therapeutics AG (CRSP) shares trading Monday and a closing price of $86.59 on the day, the dollar volume was approximately $96.91 million. The shares have shown a negative weekly performance of -5.52% and its price on 08/24/20 lost nearly -4.28%. Currently, there are 61.42M common shares owned by the public and among those 60.44M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for CRSP have a consensus price objective of $95.21. The analysts have set the share’s price value over the next 12 months at a high of $140.00 and a low of $31.00 should the stock experience a downside. Incidentally, analysts’ outlook for the CRISPR Therapeutics AG stock is 2.30 for the next 12 months. The average price target is 9.05% above its last price level and an upside to the estimated low will see the stock lose -179.32% over that period. But an upside of 38.15% will see the stock hit the forecast high price target while mean target price for the stock is $104.50.
Insiders at the company have transacted a total of 60 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 231,797 shares. Insider sales of the common stock occurred on 42 occasions, with total insider shares sold totaling 513,613 shares.
The top 3 mutual fund holders in CRISPR Therapeutics AG are ARK Innovation ETF, ARK Genomic Revolution ETF, and Nikko AM Global Umbrella Fund – A. ARK Innovation ETF owns 4.27 million shares of the company’s stock, all valued at over $364.78 million. The company bought an additional 45594.0 shares recently to bring their total holdings to about 6.08% of the shares outstanding. ARK Genomic Revolution ETF sold 21177.0 shares to see its total holdings shrink to 2.1 million shares valued at over $179.09 million and representing 2.99% of the shares outstanding. Nikko AM Global Umbrella Fund – A bought 2.06 million shares to bring its total holdings to over 2.08 million shares at a value of $177.73 million. Nikko AM Global Umbrella Fund – A now owns shares totaling to 2.96% of the shares outstanding.
Shares of CRISPR Therapeutics AG (NASDAQ: CRSP) opened at $91.50, up $1.04 from a prior closing price of $90.46. However, the script later closed the day at $86.59, down -4.28%. The company’s stock has a 5-day price change of -5.52% and 30.52% over the past three months. CRSP shares are trading 42.17% year to date (YTD), with the 12-month market performance up to 85.70% higher. It has a 12-month low price of $32.30 and touched a high of $105.12 over the same period. Currently, 1.12 million shares have been traded, compared to an average intraday trading volume of 1.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.97%, 1.60%, and 36.84% respectively.
Institutional ownership of CRISPR Therapeutics AG (NASDAQ: CRSP) shares accounts for 58.20% of the company’s 61.42M shares outstanding. Mutual fund holders own 30.58%, while other institutional holders and individual stakeholders account for 31.66% and 15.43% respectively.
It has a market capitalization of $6.16B and a beta (3y monthly) value of 2.33. The stock’s trailing 12-month PE ratio is 185.42, while the earnings-per-share (ttm) stands at $0.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.33% over the week and 5.55% over the month.
Analysts forecast that CRISPR Therapeutics AG (CRSP) will achieve an EPS of -$1.17 for the current quarter, -$1.18 for the next quarter and -$5.01 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.3 while analysts give the company a high EPS estimate of -$0.87. Comparatively, EPS for the current quarter was $2.4 a year ago. Earnings per share for the fiscal year are expected to increase by 134.10%, and -4.60% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate CRISPR Therapeutics AG (CRSP) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 4 of the 17 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the CRSP, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on July 28, 2020, with the firm’s price target at $84-$105. SunTrust coverage for the CRISPR Therapeutics AG (CRSP) stock in a research note released on July 14, 2020 offered a Buy rating with a price target of $140. Canaccord Genuity was of a view on June 15, 2020 that the stock is Buy, while Stifel gave the stock Hold rating on March 05, 2020, issuing a price target of $52. Evercore ISI on their part issued In-line rating on February 03, 2020.