ARK Investment Management LLC has recently announced that it has increased stake in CRISPR Therapeutics AG (NASDAQ:CRSP) by 51.28%. After grabbing 6.48 million shares, the institutional investor is now in possession of 2.2 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 9.24% having worth around $554.06 million. Moreover, T. Rowe Price Associates, Inc. (I. increased its share by 0.36 million to have a control over 1.38 million shares. And Ivy Investment Management Co. raised its holdings to 7.0 shares by acquiring 1.03 million shares or 1.46% of the stake.
CRISPR Therapeutics AG (CRSP) concluded trading on 08/20/20 at a closing price of $91.76, with 1.97 million shares of worth about $180.55 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 0.02% during that period and on Thursday the price saw a loss of about -8.82%. Currently the company’s common shares owned by public are about 61.42M shares, out of which, 60.44M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 17 analysts are covering the CRSP stock and their offered price forecasts bring an average price target of $95.21. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $140.00 and could fall to a lowest price of $31.00. Analysts also issued an outlook of 2.30 for the CRISPR Therapeutics AG stock for next 12 months. The stock’s current price level is 3.62% above of average price target set by the analysts, while a rise to estimated low would result in loss of -196.0 for the stock. However, touching the estimated high of $140.00 would mean a gain of 34.46% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 60 times over the past 12 months. They bought 231,797 shares in 18 of the transactions. In 42 selling transactions, insiders dumped 513,613 shares.
ARK Innovation ETF, ARK Genomic Revolution ETF, and Nikko AM Global Umbrella Fund – A are the top 3 mutual funds which are holding stakes in CRISPR Therapeutics AG ARK Innovation ETF is currently holding 4.27 million shares of worth totaling $364.78 million. The company recently came buying 45594.0 shares which brought its stake up to 6.08% of the company’s outstanding shares. ARK Genomic Revolution ETF sold 21177.0 shares, after which its hold over company’s outstanding shares shrunk to 2.99%, leaving 2.1 million shares with the mutual fund that have a worth of about $179.09 million. Nikko AM Global Umbrella Fund – A, after buying 2.08 million shares, have now control over 2.96% of the stake in the company. It holds 2.06 million shares of worth $177.73 million.
CRISPR Therapeutics AG (NASDAQ: CRSP) started trading at $100.68, above $0.04 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $91.76, or with a loss of -8.82%. Stock saw a price change of 0.02% in past 5 days and over the past one month there was a price change of -1.30%. Year-to-date (YTD), CRSP shares are showing a performance of 50.66% which increased to 87.34% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $32.30 but also hit the highest price of $105.12 during that period. While comparing its average daily trading volume of 1.06 million shares, we see that about 1.97 million changed hands on the day. The stock is currently trading 0.76% above its 20-day simple moving average (SMA20), while that difference is up 9.19% for SMA50 and it goes to 46.00% higher than SMA200.
ARK Investment Management LLC acquired 6.48 million shares of CRISPR Therapeutics AG having value of about $554.06 million. Data submitted at the U.S SEC by ARK Investment Management LLC revealed that the firm now holds 2.2 million shares in the company valued at close to $201653519.44, or have control over 51.28% stake in the company. CRISPR Therapeutics AG (NASDAQ: CRSP) currently have 61.42M outstanding shares and institutions hold larger chunk of about 55.50% of that. Holding of mutual funds in the company is about 30.58% while other institutional holders and individual stake holders have control over 31.50% and 15.62% of the stake respectively.
The stock has a current market capitalization of $6.60B and its 3Y-monthly beta is at 2.33. PE ratio of stock for trailing 12 months is 196.49, while it has posted earnings per share of $0.47 in the same period. It has Quick Ratio of 13.00 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CRSP, volatility over the week remained 6.96% while standing at 5.37% over the month.
Analysts are in expectations that CRISPR Therapeutics AG (CRSP) stock would likely to be making an EPS of -$1.17 in the current quarter, while forecast for next quarter ESPS is -$1.18 and it is -$5.01 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.3 which is -$0.87 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.4 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 134.10% while it is estimated to decrease by -4.60% in next year.
Analysts at 17 brokerage firms have issued recommendations for the CRISPR Therapeutics AG (CRSP)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 17 Wall Street analysts, 11 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Needham on July 28, 2020 offering a Buy rating for the stock and assigned a target price range of between $84 and $105 to it. Coverage by SunTrust stated CRISPR Therapeutics AG (CRSP) stock as a Buy in their note to investors on July 14, 2020, suggesting a price target of $140 for the stock. On June 15, 2020, Canaccord Genuity Reiterated their recommendations, while on March 05, 2020, Stifel Initiated their ratings for the stock with a price target of $52. Stock get an In-line rating from Evercore ISI on February 03, 2020.