Shah Wealth Advisors LLC Purchases New Position in CRISPR Therapeutics AG $CRSP

Shah Wealth Advisors LLC purchased a new stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 69,060 shares of the company’s stock, valued at approximately $3,767,000. CRISPR Therapeutics accounts for about 0.9% of Shah Wealth Advisors LLC’s holdings, making the stock its 23rd biggest holding.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in CRISPR Therapeutics in the 4th quarter worth $25,706,000. Quantinno Capital Management LP lifted its position in shares of CRISPR Therapeutics by 613.5% in the 1st quarter. Quantinno Capital Management LP now owns 47,989 shares of the company’s stock worth $2,283,000 after purchasing an additional 41,263 shares during the period. Canal Insurance CO bought a new stake in shares of CRISPR Therapeutics during the 1st quarter valued at about $1,670,000. Leonteq Securities AG purchased a new position in shares of CRISPR Therapeutics during the fourth quarter valued at about $1,155,000. Finally, KBC Group NV increased its position in shares of CRISPR Therapeutics by 3,999.9% during the first quarter. KBC Group NV now owns 116,847 shares of the company’s stock valued at $5,558,000 after buying an additional 113,997 shares during the period. 69.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on CRSP shares. Morgan Stanley set a $60.00 price objective on shares of CRISPR Therapeutics and gave the stock an “equal weight” rating in a report on Thursday, June 11th. Evercore reiterated an “outperform” rating and set a $76.00 target price on shares of CRISPR Therapeutics in a report on Monday, May 11th. Wall Street Zen raised CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, August 6th. Finally, Citizens Jmp restated a “market outperform” rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.06.

CRISPR Therapeutics Price Performance

CRSP stock opened at $55.79 on Friday. The firm has a 50 day moving average price of $53.86 and a 200-day moving average price of $52.95. CRISPR Therapeutics AG has a 52-week low of $44.12 and a 52-week high of $78.48. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of -11.72 and a beta of 1.76. The company has a debt-to-equity ratio of 0.34, a quick ratio of 17.85 and a current ratio of 17.85.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share for the quarter. The company had revenue of $10.18 million during the quarter. CRISPR Therapeutics had a negative return on equity of 24.39% and a negative net margin of 3,368.72%. Equities research analysts forecast that CRISPR Therapeutics AG will post -4.47 EPS for the current fiscal year.

CRISPR Therapeutics Company Profile

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 ?-thalassemia in collaboration with Vertex Pharmaceuticals.