Freedom Investment Management Inc. Lowers Stock Position in CRISPR Therapeutics AG $CRSP

Freedom Investment Management Inc. cut its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 5.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,000 shares of the company’s stock after selling 506 shares during the period. Freedom Investment Management Inc.’s holdings in CRISPR Therapeutics were worth $438,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. ARK Investment Management LLC grew its stake in shares of CRISPR Therapeutics by 13.3% during the 1st quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company’s stock valued at $345,929,000 after buying an additional 1,192,336 shares during the period. B & T Capital Management DBA Alpha Capital Management purchased a new stake in shares of CRISPR Therapeutics during the 1st quarter valued at $416,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of CRISPR Therapeutics by 14.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,189 shares of the company’s stock valued at $1,334,000 after buying an additional 4,914 shares during the period. IVC Wealth Advisors LLC purchased a new stake in shares of CRISPR Therapeutics during the 2nd quarter valued at $225,000. Finally, Vanguard Group Inc. boosted its position in CRISPR Therapeutics by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company’s stock worth $60,223,000 after purchasing an additional 33,711 shares during the period. 69.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRSP has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Friday. Barclays upped their price target on shares of CRISPR Therapeutics from $42.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Zacks Research raised shares of CRISPR Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Chardan Capital reaffirmed a “buy” rating and set a $82.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. initiated coverage on shares of CRISPR Therapeutics in a research report on Thursday, September 18th. They set an “overweight” rating and a $70.00 price target for the company. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $72.59.

Insider Transactions at CRISPR Therapeutics

In other news, General Counsel James R. Kasinger sold 1,076 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total value of $71,661.60. Following the sale, the general counsel owned 83,402 shares in the company, valued at approximately $5,554,573.20. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 50,895 shares of the company’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $67.91, for a total transaction of $3,456,279.45. Following the completion of the sale, the chief executive officer owned 254,201 shares in the company, valued at approximately $17,262,789.91. This trade represents a 16.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,213 shares of company stock worth $3,810,458. Company insiders own 4.30% of the company’s stock.

CRISPR Therapeutics Price Performance

Shares of CRSP stock opened at $67.61 on Friday. CRISPR Therapeutics AG has a 12 month low of $30.04 and a 12 month high of $78.48. The firm has a market capitalization of $6.15 billion, a P/E ratio of -12.45 and a beta of 1.84. The company’s fifty day moving average price is $61.62 and its two-hundred day moving average price is $51.41.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Monday, August 4th. The company reported ($1.29) EPS for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.18. CRISPR Therapeutics had a negative net margin of 1,229.43% and a negative return on equity of 20.05%. The firm had revenue of $0.89 million for the quarter, compared to analyst estimates of $6.44 million. During the same quarter in the previous year, the business posted ($1.49) EPS. The firm’s revenue was up 72.5% compared to the same quarter last year. On average, sell-side analysts anticipate that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

About CRISPR Therapeutics

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.