CRISPR Therapeutics AG $CRSP Stake Reduced by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in CRISPR Therapeutics AG by 1.3%, owning approximately 713,539 shares worth $24.28 million following the sale.
• Ark Investment Management LLC increased its stake by 13.3% during the same period, bringing their total ownership to 10,165,400 shares valued at $345.93 million.
• CRISPR Therapeutics reported a quarterly earnings per share (EPS) of $(1.29), beating estimates, though their revenue fell short of expectations at $0.89 million compared to a forecast of $6.44 million.

Charles Schwab Investment Management Inc. reduced its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 713,539 shares of the company's stock after selling 9,493 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.83% of CRISPR Therapeutics worth $24,282,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. ARK Investment Management LLC boosted its stake in CRISPR Therapeutics by 13.3% during the 1st 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 in the last quarter. Baker BROS. Advisors LP boosted its stake in CRISPR Therapeutics by 55.1% in the 4th quarter. Baker BROS. Advisors LP now owns 1,308,011 shares of the company's stock worth $51,483,000 after purchasing an additional 464,936 shares during the period. B & T Capital Management DBA Alpha Capital Management acquired a new position in CRISPR Therapeutics in the 1st quarter valued at approximately $416,000. Cambridge Investment Research Advisors Inc. increased 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 during the period. Finally, Green Alpha Advisors LLC increased its stake in CRISPR Therapeutics by 132.9% in the 1st quarter. Green Alpha Advisors LLC now owns 57,361 shares of the company's stock valued at $1,952,000 after buying an additional 32,732 shares during the period. Institutional investors own 69.20% of the company's stock.

Insider Activity at CRISPR Therapeutics

In related news, Director Simeon George bought 989,812 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were purchased at an average cost of $52.03 per share, for a total transaction of $51,499,918.36. Following the acquisition, the director owned 1,730,179 shares of the company's stock, valued at approximately $90,021,213.37. This represents a 133.69% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Naimish Patel sold 3,932 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $35.94, for a total value of $141,316.08. Following the transaction, the insider directly owned 6,068 shares of the company's stock, valued at approximately $218,083.92. This trade represents a 39.32% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.30% of the company's stock.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ CRSP opened at $53.07 on Thursday. The stock has a market cap of $4.83 billion, a P/E ratio of -9.77 and a beta of 1.80. The firm has a 50 day moving average price of $54.26 and a 200 day moving average price of $44.69. CRISPR Therapeutics AG has a 52-week low of $30.04 and a 52-week high of $71.13.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.47) by $0.18. The firm had revenue of $0.89 million during the quarter, compared to analysts' expectations of $6.44 million. CRISPR Therapeutics had a negative net margin of 1,229.43% and a negative return on equity of 20.05%. The business's revenue for the quarter was up 72.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.49) earnings per share. Analysts predict that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on CRSP shares. Barclays lifted their target price on shares of CRISPR Therapeutics from $42.00 to $56.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Piper Sandler reiterated an "overweight" rating and set a $105.00 price target on shares of CRISPR Therapeutics in a report on Friday, June 27th. HC Wainwright upped their price target on CRISPR Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised CRISPR Therapeutics to a "sell" rating in a report on Friday, May 16th. Finally, Chardan Capital reissued a "buy" rating and set a $82.00 price objective 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 given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $71.60.

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.

Want to see what other hedge funds are holding CRSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.