Capital Advisors Inc. OK Sells 300,506 Shares of CRISPR Therapeutics AG $CRSP

Key Points

• Capital Advisors Inc. OK significantly reduced its stake in CRISPR Therapeutics AG by selling 300,506 shares, representing a 97.7% decrease in ownership.
• Multiple analysts have provided updated price targets for CRISPR Therapeutics, with target prices ranging from $42.00 to $82.00, indicating a generally positive outlook for the stock.
• Insider activity increased as Director Simeon George purchased 989,812 shares in a single transaction, boosting his ownership by 133.69%.

Capital Advisors Inc. OK lessened its position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 97.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,992 shares of the company's stock after selling 300,506 shares during the period. Capital Advisors Inc. OK's holdings in CRISPR Therapeutics were worth $340,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. ARK Investment Management LLC lifted its holdings 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 valued at $345,929,000 after purchasing an additional 1,192,336 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management bought a new position in CRISPR Therapeutics in the 1st quarter worth approximately $416,000. Cambridge Investment Research Advisors Inc. grew its stake in CRISPR Therapeutics by 14.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,189 shares of the company's stock valued at $1,334,000 after buying an additional 4,914 shares in the last quarter. Vanguard Group Inc. raised its holdings in CRISPR Therapeutics by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company's stock valued at $60,223,000 after acquiring an additional 33,711 shares during the period. Finally, IVC Wealth Advisors LLC purchased a new stake in shares of CRISPR Therapeutics during the second quarter worth $225,000. Hedge funds and other institutional investors own 69.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on CRISPR Therapeutics in a research note on Thursday, September 18th. They set an "overweight" rating and a $70.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of CRISPR Therapeutics from $38.00 to $42.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 5th. Barclays increased their target price 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. Needham & Company LLC restated a "buy" rating and set a $81.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, July 8th. Finally, Chardan Capital reiterated a "buy" rating and issued a $82.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, August 5th. Ten 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 company's stock. According to data from MarketBeat.com, CRISPR Therapeutics currently has a consensus rating of "Hold" and an average price target of $71.50.

Insiders Place Their Bets

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

CRISPR Therapeutics Stock Performance

NASDAQ CRSP opened at $70.19 on Tuesday. CRISPR Therapeutics AG has a 52-week low of $30.04 and a 52-week high of $73.95. The company has a fifty day moving average of $57.82 and a 200-day moving average of $48.06. The company has a market capitalization of $6.38 billion, a P/E ratio of -12.93 and a beta of 1.84.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings results 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. CRISPR Therapeutics had a negative return on equity of 20.05% and a negative net margin of 1,229.43%.The business had revenue of $0.89 million for the quarter, compared to the consensus estimate of $6.44 million. During the same quarter last year, the business posted ($1.49) earnings per share. The company's revenue for the quarter was up 72.5% on a year-over-year basis. As a group, analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal 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.

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