Cresset Asset Management LLC Sells 4,771 Shares of CRISPR Therapeutics AG $CRSP

Key Points

• Cresset Asset Management LLC has reduced its holdings in CRISPR Therapeutics AG by 31.7%, selling 4,771 shares and now holding 10,271 shares valued at approximately $350,000.
• Several institutional investors modified their positions in CRISPR Therapeutics, with NBC Securities Inc. increasing its holdings by 156,300.0% in the first quarter.
• CRISPR Therapeutics has received ratings from analysts, including a target price increase from $65.00 to $80.00 by HC Wainwright, while the company has a current consensus rating of "Moderate Buy".

Cresset Asset Management LLC lowered its holdings in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 31.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,271 shares of the company's stock after selling 4,771 shares during the quarter. Cresset Asset Management LLC's holdings in CRISPR Therapeutics were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Costello Asset Management INC bought a new position in CRISPR Therapeutics in the 1st quarter worth $27,000. Wood Tarver Financial Group LLC bought a new position in CRISPR Therapeutics in the 4th quarter worth $30,000. Ameriflex Group Inc. bought a new position in CRISPR Therapeutics in the 4th quarter worth $36,000. NBC Securities Inc. raised its holdings in CRISPR Therapeutics by 156,300.0% in the 1st quarter. NBC Securities Inc. now owns 1,564 shares of the company's stock worth $53,000 after acquiring an additional 1,563 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in CRISPR Therapeutics in the 4th quarter worth $71,000. Institutional investors own 69.20% of the company's stock.

Analyst Ratings Changes

CRSP has been the topic of several recent analyst reports. HC Wainwright lifted their target price on shares of CRISPR Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. JMP Securities reiterated a "market outperform" rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a report on Friday, June 27th. Royal Bank Of Canada lifted their target price on shares of CRISPR Therapeutics from $38.00 to $42.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 5th. The Goldman Sachs Group dropped their target price on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, Chardan Capital reiterated a "buy" rating and issued a $82.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $71.60.

Insider Activity

In other news, insider Naimish Patel sold 3,932 shares of CRISPR Therapeutics stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $35.94, for a total transaction of $141,316.08. Following the sale, the insider directly owned 6,068 shares in the company, valued at approximately $218,083.92. The trade was a 39.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Simeon George bought 989,812 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director owned 1,730,179 shares in the company, valued at $90,021,213.37. This represents a 133.69% increase in their position. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by insiders.

CRISPR Therapeutics Stock Performance

Shares of CRISPR Therapeutics stock opened at $54.13 on Tuesday. The firm's 50-day simple moving average is $55.00 and its 200-day simple moving average is $45.03. CRISPR Therapeutics AG has a twelve month low of $30.04 and a twelve month high of $71.13. The firm has a market cap of $4.92 billion, a P/E ratio of -9.97 and a beta of 1.80.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($1.29) earnings per share 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 for the quarter, compared to analyst estimates of $6.44 million. During the same period in the previous year, the business earned ($1.49) EPS. The firm's revenue was up 72.5% on a year-over-year basis. On average, equities analysts forecast that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

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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