22,967 Shares in CRISPR Therapeutics AG $CRSP Bought by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC purchased 22,967 shares of CRISPR Therapeutics AG, valued at approximately $1,117,000, during the second quarter.
• Institutional investors and hedge funds own 69.20% of CRISPR Therapeutics' stock, with notable increases in stakes by firms such as UBS and ARK Investment Management.
• CRISPR Therapeutics reported an earnings per share of ($1.29) for the recent quarter, surpassing analysts' expectations, despite a significant decline in revenue compared to estimates.

Concurrent Investment Advisors LLC purchased a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,967 shares of the company's stock, valued at approximately $1,117,000.

A number of other large investors have also recently bought and sold shares of CRSP. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 during the period. ARK Investment Management LLC boosted its stake in CRISPR Therapeutics by 13.3% during the 1st 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. Millennium Management LLC boosted its stake in CRISPR Therapeutics by 6,769.1% during the 1st 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. McElhenny Sheffield Capital Management LLC acquired a new stake in CRISPR Therapeutics during the 2nd quarter worth $6,615,000. Finally, Orbis Allan Gray Ltd boosted its stake in CRISPR Therapeutics by 5.9% during the 1st 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. Institutional investors and hedge funds own 69.20% of the company's stock.

CRISPR Therapeutics Stock Up 3.5%

Shares of CRSP opened at $71.82 on Thursday. The company has a 50-day simple moving average of $59.90 and a 200-day simple moving average of $49.51. The company has a market capitalization of $6.53 billion, a PE ratio of -13.23 and a beta of 1.84. CRISPR Therapeutics AG has a 52-week low of $30.04 and a 52-week high of $78.48.

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

Insider Activity

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,076 shares of the firm's stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total transaction of $71,661.60. Following the completion of the transaction, the general counsel directly owned 83,402 shares in the company, valued at approximately $5,554,573.20. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Samarth Kulkarni sold 4,242 shares of the firm's stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total transaction of $282,517.20. Following the transaction, the chief executive officer owned 205,096 shares of the company's stock, valued at $13,659,393.60. This trade represents a 2.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America reduced 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. Zacks Research upgraded shares of CRISPR Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Needham & Company LLC restated a "buy" rating and issued a $81.00 target price on shares of CRISPR Therapeutics in a research note on Friday, October 10th. Chardan Capital restated a "buy" rating and issued a $82.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company set a $75.00 target price on shares of CRISPR Therapeutics in a research note on Monday. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $71.71.

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.

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