Moran Wealth Management LLC Acquires 8,717 Shares of CRISPR Therapeutics AG $CRSP

Moran Wealth Management LLC boosted its stake in CRISPR Therapeutics AG (NASDAQ:CRSP) by 52.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,302 shares of the company’s stock after acquiring an additional 8,717 shares during the period. Moran Wealth Management LLC’s holdings in CRISPR Therapeutics were worth $1,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. GSK plc bought a new stake in shares of CRISPR Therapeutics during the 4th quarter valued at about $168,890,000. Orbis Allan Gray Ltd lifted its holdings in CRISPR Therapeutics by 76.9% in the second quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock worth $134,467,000 after buying an additional 1,201,600 shares during the period. State Street Corp lifted its holdings in CRISPR Therapeutics by 35.6% in the second quarter. State Street Corp now owns 3,270,596 shares of the company’s stock worth $159,082,000 after buying an additional 859,334 shares during the period. ARK Investment Management LLC boosted its position in CRISPR Therapeutics by 7.5% during the 4th quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock valued at $551,777,000 after acquiring an additional 735,084 shares in the last quarter. Finally, Norges Bank bought a new stake in CRISPR Therapeutics during the 4th quarter valued at approximately $25,706,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRSP. Wall Street Zen lowered CRISPR Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday. Evercore reiterated an “outperform” rating and issued a $76.00 price objective on shares of CRISPR Therapeutics in a report on Monday, May 11th. Truist Financial raised CRISPR Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Morgan Stanley set a $60.00 target price on shares of CRISPR Therapeutics and gave the company an “equal weight” rating in a report on Thursday, June 11th. Finally, UBS Group set a $80.00 target price on shares of CRISPR Therapeutics in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $67.78.

Insider Transactions at CRISPR Therapeutics

In related news, insider Naimish Patel sold 3,786 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $55.62, for a total transaction of $210,577.32. Following the sale, the insider directly owned 19,357 shares of the company’s stock, valued at approximately $1,076,636.34. This represents a 16.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.10% of the stock is currently owned by insiders.

CRISPR Therapeutics Stock Down 4.5%

Shares of CRISPR Therapeutics stock traded down $2.80 during midday trading on Tuesday, hitting $59.09. The company had a trading volume of 486,858 shares, compared to its average volume of 1,823,704. CRISPR Therapeutics AG has a 52-week low of $44.12 and a 52-week high of $78.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 17.96 and a current ratio of 17.97. The stock has a market capitalization of $5.70 billion, a P/E ratio of -9.52 and a beta of 1.71. The company has a 50 day moving average of $52.92 and a 200 day moving average of $53.09.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Tuesday, March 31st. The company reported ($1.28) EPS for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%.The company had revenue of $1.46 million during the quarter. On average, equities analysts predict that CRISPR Therapeutics AG will post -4.89 earnings per share 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.