State Street Corp increased its stake in Crispr Therapeutics AG (NASDAQ:CRSP) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,103 shares of the company’s stock after buying an additional 758 shares during the period. State Street Corp owned 0.07% of Crispr Therapeutics worth $1,521,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Nikko Asset Management Americas Inc. grew its holdings in Crispr Therapeutics by 48.4% in the third quarter. Nikko Asset Management Americas Inc. now owns 2,777,414 shares of the company’s stock worth $113,846,000 after purchasing an additional 906,006 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Crispr Therapeutics by 19.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 738,869 shares of the company’s stock valued at $34,801,000 after buying an additional 121,176 shares during the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of Crispr Therapeutics during the second quarter valued at approximately $5,165,000. River & Mercantile Asset Management LLP purchased a new stake in shares of Crispr Therapeutics during the second quarter valued at approximately $4,032,000. Finally, OZ Management LP purchased a new stake in shares of Crispr Therapeutics during the second quarter valued at approximately $3,876,000. 49.82% of the stock is owned by institutional investors.
CRSP opened at $58.33 on Friday. The company has a current ratio of 8.32, a quick ratio of 8.32 and a debt-to-equity ratio of 0.06. Crispr Therapeutics AG has a 1-year low of $29.34 and a 1-year high of $74.00. The company has a market capitalization of $3.29 billion, a PE ratio of -126.80 and a beta of 3.20. The firm’s 50 day simple moving average is $65.14 and its two-hundred day simple moving average is $52.14.
Crispr Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Monday, October 28th. The company reported $2.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.95) by $3.35. The firm had revenue of $211.93 million for the quarter, compared to the consensus estimate of $6.32 million. Crispr Therapeutics had a negative net margin of 5.30% and a negative return on equity of 2.60%. Equities analysts forecast that Crispr Therapeutics AG will post 0.65 earnings per share for the current fiscal year.
A number of research firms have recently commented on CRSP. Zacks Investment Research cut shares of Crispr Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 30th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price target on shares of Crispr Therapeutics in a report on Monday, December 23rd. TheStreet upgraded shares of Crispr Therapeutics from a “d” rating to a “c” rating in a report on Monday, October 28th. Goldman Sachs Group raised their target price on shares of Crispr Therapeutics from $52.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Oppenheimer raised their target price on shares of Crispr Therapeutics from $65.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. Crispr Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $71.38.
In other news, Director Pablo J. Cagnoni sold 7,500 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $55.00, for a total transaction of $412,500.00. Following the sale, the director now directly owns 7,500 shares in the company, valued at approximately $412,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Rodger Novak sold 33,618 shares of Crispr Therapeutics stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $70.00, for a total transaction of $2,353,260.00. Following the completion of the sale, the president now owns 33,618 shares in the company, valued at $2,353,260. The disclosure for this sale can be found here. Insiders have sold a total of 56,118 shares of company stock worth $3,620,760 over the last 90 days. Insiders own 21.40% of the company’s stock.
About Crispr Therapeutics
CRISPR Therapeutics AG, a gene editing company, focuses on developing transformative gene-based medicines for the treatment of serious human diseases using its regularly interspaced short palindromic repeats associated protein-9 (CRISPR/Cas9) gene-editing platform in Switzerland. Its lead product candidate is CTX001, an ex vivo CRISPR gene-edited therapy for treating patients suffering from dependent beta thalassemia or severe sickle cell disease in which a patient's hematopoietic stem cells are engineered to produce high levels of fetal hemoglobin in red blood cells.
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