Blair William & Co. IL Reduces Holdings in CRISPR Therapeutics AG $CRSP

Key Points

• Blair William & Co. IL significantly reduced its stake in CRISPR Therapeutics AG by 48.5% during the 2nd quarter, lowering its holdings to 35,130 shares valued at approximately $1.7 million.
• Several institutional investors, including ARK Investment Management LLC and UBS AM, have increased their positions in CRISPR Therapeutics, indicating a shift in investment strategies towards the company.
• Analysts have set varied price targets for CRISPR Therapeutics, with Piper Sandler maintaining an "overweight" rating and a target price of $105, amidst a consensus rating of "Hold" and an average price target of $71.71.

Blair William & Co. IL trimmed its stake in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 48.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,130 shares of the company's stock after selling 33,087 shares during the period. Blair William & Co. IL's holdings in CRISPR Therapeutics were worth $1,709,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ARK Investment Management LLC lifted its position in shares of 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 purchasing an additional 1,192,336 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of CRISPR Therapeutics by 182.9% in 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. Vanguard Group Inc. lifted its position in shares of CRISPR Therapeutics by 1.9% in the 1st 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 lifted its position in shares of 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 purchasing an additional 86,813 shares during the period. Finally, Millennium Management LLC lifted its position in shares of 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 purchasing an additional 575,235 shares during the period. 69.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently 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 report on Friday, June 27th. Wells Fargo & Company set a $75.00 target price on shares of CRISPR Therapeutics in a research report on Monday. 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 reiterated a "buy" rating and issued a $81.00 price target on shares of CRISPR Therapeutics in a research note on Friday, October 10th. Finally, Royal Bank Of Canada increased their price target 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. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $71.71.

CRISPR Therapeutics Stock Performance

NASDAQ:CRSP opened at $69.38 on Wednesday. The firm has a market cap of $6.31 billion, a P/E ratio of -12.78 and a beta of 1.84. CRISPR Therapeutics AG has a fifty-two week low of $30.04 and a fifty-two week high of $78.48. The firm has a 50-day simple moving average of $59.59 and a two-hundred day simple moving average of $49.36.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported ($1.29) earnings per share 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 analyst estimates of $6.44 million. CRISPR Therapeutics had a negative net margin of 1,229.43% and a negative return on equity of 20.05%. CRISPR Therapeutics's revenue was up 72.5% compared to the same quarter last year. During the same period last year, the business earned ($1.49) EPS. On average, equities research analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

About CRISPR Therapeutics

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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