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

Freedom Investment Management Inc. lowered its position in CRISPR Therapeutics AG (NASDAQ:CRSP) by 5.1% in the first quarter, HoldingsChannel reports. The firm owned 9,506 shares of the company’s stock after selling 511 shares during the period. Freedom Investment Management Inc.’s holdings in CRISPR Therapeutics were worth $323,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. SVB Wealth LLC acquired a new stake in shares of CRISPR Therapeutics during the first quarter worth about $25,000. Wood Tarver Financial Group LLC acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $30,000. Costello Asset Management INC acquired a new stake in CRISPR Therapeutics in the first quarter valued at approximately $27,000. Ameriflex Group Inc. purchased a new position in CRISPR Therapeutics in the fourth quarter valued at approximately $36,000. Finally, Quantbot Technologies LP increased its stake in CRISPR Therapeutics by 272.4% in the first quarter. Quantbot Technologies LP now owns 1,337 shares of the company’s stock valued at $45,000 after purchasing an additional 978 shares during the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Stock Performance

Shares of CRSP opened at $53.53 on Thursday. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of -9.86 and a beta of 1.80. CRISPR Therapeutics AG has a one year low of $30.04 and a one year high of $71.13. The stock’s fifty day moving average is $55.42 and its 200-day moving average is $45.15.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Monday, August 4th. The company reported ($1.29) earnings per share for the quarter, beating the consensus estimate of ($1.47) by $0.18. CRISPR Therapeutics had a negative return on equity of 20.05% and a negative net margin of 1,229.43%.The business had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $6.44 million. During the same quarter last year, the business posted ($1.49) earnings per share. The company’s quarterly revenue was up 72.5% on a year-over-year basis. Analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRSP. Piper Sandler reiterated an “overweight” rating and issued a $105.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, June 27th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Chardan Capital reissued a “buy” rating and issued a $82.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, August 5th. Royal Bank Of Canada upped their price objective on shares of CRISPR Therapeutics from $38.00 to $42.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 5th. Finally, Bank of America dropped their price objective on shares of CRISPR Therapeutics from $79.00 to $78.00 and set a “buy” rating for the company in a research note on Tuesday, July 22nd. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CRISPR Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $71.60.

Insider Transactions at CRISPR Therapeutics

In related news, Director Simeon George acquired 989,812 shares of the stock in a transaction dated Wednesday, July 16th. The shares were acquired at an average price of $52.03 per share, with a total value of $51,499,918.36. Following the acquisition, the director owned 1,730,179 shares in the company, valued at approximately $90,021,213.37. The trade was a 133.69% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.30% of the company’s stock.

CRISPR Therapeutics Company Profile

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.