SteelPeak Wealth LLC Lowers Stock Position in CRISPR Therapeutics AG $CRSP

SteelPeak Wealth LLC lessened its holdings in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 3.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,543 shares of the company’s stock after selling 318 shares during the quarter. SteelPeak Wealth LLC’s holdings in CRISPR Therapeutics were worth $416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ARK Investment Management LLC boosted its position in CRISPR Therapeutics by 13.3% during the first quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company’s stock worth $345,929,000 after purchasing an additional 1,192,336 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CRISPR Therapeutics by 182.9% during the first 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 during the period. Vanguard Group Inc. boosted its position in CRISPR Therapeutics by 1.9% during the first 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. Orbis Allan Gray Ltd boosted its position in CRISPR Therapeutics by 5.9% during the first quarter. Orbis Allan Gray Ltd now owns 1,562,932 shares of the company’s stock worth $53,187,000 after purchasing an additional 86,813 shares during the period. Finally, Millennium Management LLC boosted its position in CRISPR Therapeutics by 6,769.1% during the first quarter. Millennium Management LLC now owns 583,733 shares of the company’s stock worth $19,864,000 after purchasing an additional 575,235 shares during the period. Institutional investors own 69.20% of the company’s stock.

Insider Transactions at CRISPR Therapeutics

In related news, Director Simeon George bought 989,812 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was acquired at an average cost of $52.03 per share, for a total transaction of $51,499,918.36. Following the completion of the transaction, the director directly owned 1,730,179 shares in the company, valued at $90,021,213.37. This trade represents a 133.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRSP. Royal Bank Of Canada increased 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 report on Tuesday, August 5th. Zacks Research upgraded shares of CRISPR Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Needham & Company LLC restated a “buy” rating and issued a $81.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, July 8th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, September 23rd. Finally, Piper Sandler restated an “overweight” rating and issued a $105.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $71.50.

CRISPR Therapeutics Price Performance

Shares of CRISPR Therapeutics stock opened at $76.78 on Thursday. CRISPR Therapeutics AG has a 1 year low of $30.04 and a 1 year high of $78.48. The firm has a market cap of $6.98 billion, a PE ratio of -14.14 and a beta of 1.84. The company has a 50 day simple moving average of $58.43 and a two-hundred day simple moving average of $48.41.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results 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 business had revenue of $0.89 million during the quarter, compared to analyst estimates of $6.44 million. During the same period in the previous year, the business posted ($1.49) earnings per share. CRISPR Therapeutics’s revenue for the quarter was up 72.5% on a year-over-year basis. As a group, research analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

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.