Hedges Asset Management LLC Reduces Holdings in CRISPR Therapeutics AG $CRSP

Hedges Asset Management LLC trimmed its holdings in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 15.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,700 shares of the company’s stock after selling 4,650 shares during the period. Hedges Asset Management LLC’s holdings in CRISPR Therapeutics were worth $1,201,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CRSP. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of CRISPR Therapeutics by 182.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company’s stock worth $66,452,000 after purchasing an additional 1,262,560 shares in the last quarter. ARK Investment Management LLC grew its stake in CRISPR Therapeutics by 13.3% in the 1st quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company’s stock worth $345,929,000 after acquiring an additional 1,192,336 shares during the period. Millennium Management LLC grew its stake in CRISPR Therapeutics by 6,769.1% in the 1st quarter. Millennium Management LLC now owns 583,733 shares of the company’s stock worth $19,864,000 after acquiring an additional 575,235 shares during the period. Two Sigma Investments LP grew its stake in CRISPR Therapeutics by 71.1% in the 4th quarter. Two Sigma Investments LP now owns 306,272 shares of the company’s stock worth $12,055,000 after acquiring an additional 127,219 shares during the period. Finally, Orbis Allan Gray Ltd grew its stake in CRISPR Therapeutics by 5.9% in the 1st quarter. Orbis Allan Gray Ltd now owns 1,562,932 shares of the company’s stock worth $53,187,000 after acquiring an additional 86,813 shares during the period. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Stock Up 0.7%

Shares of NASDAQ CRSP opened at $56.26 on Friday. CRISPR Therapeutics AG has a 52-week low of $30.04 and a 52-week high of $71.13. The firm has a fifty day moving average of $56.73 and a 200-day moving average of $45.73. The stock has a market capitalization of $5.12 billion, a PE ratio of -10.36 and a beta of 1.81.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Monday, August 4th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $6.44 million. During the same period in the previous year, the company earned ($1.49) EPS. The business’s quarterly revenue was up 72.5% compared to the same quarter last year. Equities research analysts expect that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, Director Simeon George purchased 989,812 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The stock was purchased at an average cost of $52.03 per share, with a total value of $51,499,918.36. Following the transaction, the director owned 1,730,179 shares in the company, valued at approximately $90,021,213.37. This trade represents a 133.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price on shares of CRISPR Therapeutics in a research note on Friday, June 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Bank of America lowered their target price 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. Royal Bank Of Canada lifted their target price on shares of CRISPR Therapeutics from $38.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 5th. Finally, Zacks Research raised shares of CRISPR Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, CRISPR Therapeutics presently has an average rating of “Hold” and a consensus target price of $71.60.

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.