CRISPR Therapeutics AG $CRSP Shares Bought by Legal & General Group Plc

Key Points

• Legal & General Group Plc increased its stake in CRISPR Therapeutics by 59.7% in Q2, acquiring an additional 48,412 shares to hold 129,567 shares (about 0.14% of the company) worth roughly $6.30 million.
• Insiders have been net sellers: CEO Samarth Kulkarni sold 50,895 shares on Oct. 17 for about $3.46 million (a 16.68% reduction), and insiders sold 56,213 shares totaling $3.81 million over the last quarter.
• The analyst consensus is a Hold with an average price target of $67.42; recent results showed an EPS of -$1.17 (better than -$1.32 expected) but revenue missed estimates.

Legal & General Group Plc grew its stake in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 59.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,567 shares of the company's stock after acquiring an additional 48,412 shares during the quarter. Legal & General Group Plc owned about 0.14% of CRISPR Therapeutics worth $6,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRSP. SVB Wealth LLC acquired a new position in CRISPR Therapeutics in the 1st quarter valued at about $25,000. Costello Asset Management INC acquired a new position in shares of CRISPR Therapeutics in the first quarter valued at approximately $27,000. Atlantic Union Bankshares Corp acquired a new position in shares of CRISPR Therapeutics in the second quarter valued at approximately $33,000. Quantbot Technologies LP lifted its stake in shares of CRISPR Therapeutics by 272.4% during the first quarter. Quantbot Technologies LP now owns 1,337 shares of the company's stock valued at $45,000 after buying an additional 978 shares during the period. Finally, IFP Advisors Inc boosted its position in CRISPR Therapeutics by 24.6% during the second quarter. IFP Advisors Inc now owns 916 shares of the company's stock worth $45,000 after acquiring an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 69.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CRSP shares. Wedbush cut their price target on CRISPR Therapeutics from $13.00 to $9.00 and set an "outperform" rating for the company in a report on Wednesday, November 5th. Wells Fargo & Company set a $75.00 target price on CRISPR Therapeutics in a research note on Monday, October 13th. Citigroup reissued a "buy" rating and issued a $77.00 price target (down from $87.00) on shares of CRISPR Therapeutics in a research note on Tuesday, November 11th. Zacks Research raised shares of CRISPR Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Robert W. Baird decreased their target price on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 11th. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $67.42.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 50,895 shares of CRISPR Therapeutics stock in a transaction on Friday, October 17th. The shares were sold at an average price of $67.91, for a total transaction of $3,456,279.45. Following the transaction, the chief executive officer owned 254,201 shares in the company, valued at approximately $17,262,789.91. The trade was a 16.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel James R. Kasinger sold 1,076 shares of the company's stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total transaction of $71,661.60. Following the sale, the general counsel directly owned 83,402 shares of the company's stock, valued at approximately $5,554,573.20. This trade represents a 1.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 56,213 shares of company stock valued at $3,810,458. 4.30% of the stock is owned by insiders.

CRISPR Therapeutics Price Performance

Shares of NASDAQ:CRSP opened at $55.99 on Thursday. The business has a 50-day moving average of $61.43 and a two-hundred day moving average of $55.08. The firm has a market capitalization of $5.34 billion, a PE ratio of -10.02 and a beta of 1.74. CRISPR Therapeutics AG has a 12 month low of $30.04 and a 12 month high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its earnings results on Monday, November 10th. The company reported ($1.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.32) by $0.15. The business had revenue of $0.89 million during the quarter, compared to analysts' expectations of $8.74 million. CRISPR Therapeutics had a negative return on equity of 21.23% and a negative net margin of 1,273.70%. As a group, research analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current 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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