CRISPR Therapeutics AG $CRSP Shares Sold by Amova Asset Management Americas Inc.

Key Points

• Amova Asset Management Americas reduced its CRISPR Therapeutics stake by 5.3% in the first quarter, selling 104,236 shares and leaving it with 1.85 million shares valued at about $88.2 million.
• Other institutions were mixed on the stock: several increased positions sharply, and overall 69.2% of CRSP shares are held by hedge funds and other institutional investors.
• Insider Naimish Patel sold 3,786 shares to cover tax withholding tied to equity award vesting, while analysts currently rate the stock a Moderate Buy with an average price target of $67.78.

Amova Asset Management Americas Inc. lessened its stake in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,853,875 shares of the company's stock after selling 104,236 shares during the quarter. CRISPR Therapeutics comprises approximately 1.2% of Amova Asset Management Americas Inc.'s holdings, making the stock its 26th biggest holding. Amova Asset Management Americas Inc. owned approximately 1.92% of CRISPR Therapeutics worth $88,189,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CRSP. Hollencrest Capital Management increased its holdings in shares of CRISPR Therapeutics by 249.9% during the 1st quarter. Hollencrest Capital Management now owns 1,312 shares of the company's stock worth $62,000 after buying an additional 937 shares during the last quarter. KBC Group NV boosted its holdings in CRISPR Therapeutics by 3,999.9% in the first quarter. KBC Group NV now owns 116,847 shares of the company's stock valued at $5,558,000 after acquiring an additional 113,997 shares during the last quarter. Swiss National Bank grew its position in CRISPR Therapeutics by 5.1% during the first quarter. Swiss National Bank now owns 169,700 shares of the company's stock valued at $8,073,000 after acquiring an additional 8,200 shares during the period. Allspring Global Investments Holdings LLC grew its position in CRISPR Therapeutics by 11.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,932 shares of the company's stock valued at $290,000 after acquiring an additional 605 shares during the period. Finally, Independent Financial Group LLC acquired a new stake in CRISPR Therapeutics during the first quarter worth about $292,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CRISPR Therapeutics

In related news, insider Naimish Patel sold 3,786 shares of CRISPR Therapeutics stock in a transaction on Friday, May 29th. The shares were sold at an average price of $55.62, for a total transaction of $210,577.32. Following the sale, the insider owned 19,357 shares of the company's stock, valued at $1,076,636.34. The trade was a 16.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is owned by company insiders.

CRISPR Therapeutics Stock Down 1.7%

NASDAQ CRSP opened at $46.99 on Tuesday. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32. CRISPR Therapeutics AG has a fifty-two week low of $44.12 and a fifty-two week high of $78.48. The business has a 50 day moving average price of $52.96 and a two-hundred day moving average price of $52.88. The stock has a market cap of $4.53 billion, a PE ratio of -7.55 and a beta of 1.71.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($1.28) earnings per share (EPS) for the quarter. The firm had revenue of $1.46 million for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. As a group, sell-side analysts predict that CRISPR Therapeutics AG will post -4.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded CRISPR Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, July 5th. Citizens Jmp reissued a "market outperform" rating and set a $80.00 target price on shares of CRISPR Therapeutics in a research report on Monday, July 6th. Weiss Ratings restated a "sell (d-)" rating on shares of CRISPR Therapeutics in a report on Friday. Evercore reaffirmed an "outperform" rating and set a $76.00 price target on shares of CRISPR Therapeutics in a research report on Monday, May 11th. Finally, UBS Group set a $80.00 price objective on shares of CRISPR Therapeutics in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, CRISPR Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $67.78.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.

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