EverSource Wealth Advisors LLC Grows Stake in CRISPR Therapeutics AG $CRSP

Key Points

• EverSource Wealth Advisors LLC significantly increased its stake in CRISPR Therapeutics AG by acquiring 84,708 shares, boosting its holdings by 49,248.8% during the first quarter.
• CRISPR Therapeutics reported a quarterly revenue of $0.89 million, substantially below analyst estimates of $6.44 million, alongside an EPS of ($1.29) surpassing expectations.
• Several analysts maintain a generally positive outlook on CRISPR Therapeutics, with price targets ranging from $42.00 to $105.00 and a consensus rating of "Hold" among rating agencies.

EverSource Wealth Advisors LLC lifted its position in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 49,248.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,880 shares of the company's stock after buying an additional 84,708 shares during the period. EverSource Wealth Advisors LLC owned approximately 0.10% of CRISPR Therapeutics worth $2,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CRSP. Wells Fargo & Company MN raised its holdings in CRISPR Therapeutics by 8.4% in the 4th quarter. Wells Fargo & Company MN now owns 220,123 shares of the company's stock worth $8,664,000 after purchasing an additional 17,094 shares during the period. Envestnet Asset Management Inc. raised its holdings in CRISPR Therapeutics by 2.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 56,033 shares of the company's stock worth $2,205,000 after purchasing an additional 1,256 shares during the period. Invesco Ltd. raised its holdings in CRISPR Therapeutics by 6.3% in the 4th quarter. Invesco Ltd. now owns 33,790 shares of the company's stock worth $1,330,000 after purchasing an additional 2,010 shares during the period. Raymond James Financial Inc. bought a new position in CRISPR Therapeutics in the 4th quarter worth $3,231,000. Finally, NewEdge Advisors LLC raised its holdings in CRISPR Therapeutics by 28.0% in the 4th quarter. NewEdge Advisors LLC now owns 7,420 shares of the company's stock worth $292,000 after purchasing an additional 1,622 shares during the period. 69.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CRSP. JMP Securities reaffirmed a "market outperform" rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a report on Friday, June 27th. Piper Sandler reissued an "overweight" rating and set a $105.00 price target on shares of CRISPR Therapeutics in a report on Friday, June 27th. Barclays raised their price target on CRISPR Therapeutics from $42.00 to $56.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. 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 target on shares of CRISPR Therapeutics in a report on Tuesday, August 5th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.60.

Insider Activity

In other news, Director Simeon George bought 989,812 shares of CRISPR Therapeutics stock in a transaction dated Wednesday, July 16th. The shares were purchased at an average cost of $52.03 per share, with a total value of $51,499,918.36. Following the completion of the acquisition, the director owned 1,730,179 shares of the company's stock, valued at $90,021,213.37. This trade represents a 133.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Naimish Patel sold 3,932 shares of CRISPR Therapeutics stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $35.94, for a total value of $141,316.08. Following the completion of the sale, the insider directly owned 6,068 shares in the company, valued at $218,083.92. This trade represents a 39.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

CRISPR Therapeutics Price Performance

Shares of CRSP stock traded down $1.5170 during trading hours on Wednesday, hitting $52.6430. The stock had a trading volume of 1,487,036 shares, compared to its average volume of 2,619,683. CRISPR Therapeutics AG has a one year low of $30.04 and a one year high of $71.13. The stock's 50-day moving average price is $54.03 and its two-hundred day moving average price is $44.64. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of -9.73 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 (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $0.89 million for the quarter, compared to analysts' expectations of $6.44 million. During the same period in the previous year, the firm posted ($1.49) earnings per share. The business's revenue was up 72.5% compared to the same quarter last year. As a group, equities research analysts predict that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

About CRISPR Therapeutics

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.