Alta Wealth Advisors LLC Takes Position in CRISPR Therapeutics AG $CRSP

Key Points

• Alta Wealth Advisors LLC has acquired a new stake in CRISPR Therapeutics AG, purchasing 4,884 shares valued at approximately $238,000 in Q2.
• CRISPR Therapeutics reported a 72.5% year-over-year increase in revenue, with earnings per share of ($1.29) for the last quarter, surpassing estimates.
• A significant insider transaction occurred as Director Simeon George bought 989,812 shares at an average price of $52.03, increasing his position by 133.69%.

Alta Wealth Advisors LLC bought a new stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,884 shares of the company's stock, valued at approximately $238,000.

A number of other large investors have also recently made changes to their positions in CRSP. GAMMA Investing LLC boosted its stake in shares of CRISPR Therapeutics by 8,146.2% during the first quarter. GAMMA Investing LLC now owns 4,288 shares of the company's stock valued at $146,000 after purchasing an additional 4,236 shares during the period. NBC Securities Inc. boosted its stake in shares of CRISPR Therapeutics by 156,300.0% during the first quarter. NBC Securities Inc. now owns 1,564 shares of the company's stock valued at $53,000 after purchasing an additional 1,563 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of CRISPR Therapeutics by 46.7% during the first quarter. Farther Finance Advisors LLC now owns 5,626 shares of the company's stock valued at $186,000 after purchasing an additional 1,792 shares during the period. Avanza Fonder AB purchased a new stake in shares of CRISPR Therapeutics during the first quarter valued at $866,000. Finally, SG Americas Securities LLC boosted its stake in shares of CRISPR Therapeutics by 39.1% during the first quarter. SG Americas Securities LLC now owns 29,341 shares of the company's stock valued at $998,000 after purchasing an additional 8,240 shares during the period. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Trading Down 7.0%

Shares of NASDAQ:CRSP opened at $67.74 on Friday. CRISPR Therapeutics AG has a twelve month low of $30.04 and a twelve month high of $73.95. The company's 50 day moving average is $57.69 and its 200 day moving average is $47.81. The company has a market cap of $6.16 billion, a PE ratio of -12.48 and a beta of 1.84.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($1.29) earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $6.44 million. During the same quarter in the prior year, the company earned ($1.49) EPS. CRISPR Therapeutics's quarterly revenue was up 72.5% on a year-over-year basis. Equities research analysts predict that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Simeon George acquired 989,812 shares of the stock in a transaction on Wednesday, July 16th. The shares were acquired at an average price of $52.03 per share, for a total transaction 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of CRISPR Therapeutics in a research note on Thursday, September 18th. They set an "overweight" rating and a $70.00 target price for the company. Barclays upped their price objective on shares of CRISPR Therapeutics from $42.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CRISPR Therapeutics in a research note on Saturday, September 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $81.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, July 8th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $105.00 price objective on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, CRISPR Therapeutics currently has an average rating of "Hold" and an average price target of $71.50.

CRISPR Therapeutics 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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