CRISPR Therapeutics AG $CRSP Shares Acquired by EverSource Wealth Advisors LLC

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. ARK Investment Management LLC increased its stake in CRISPR Therapeutics by 13.3% in the first quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company's stock worth $345,929,000 after purchasing an additional 1,192,336 shares during the period. Baker BROS. Advisors LP increased its stake in CRISPR Therapeutics by 55.1% in the fourth 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 purchased a new stake in CRISPR Therapeutics in the first quarter worth $416,000. Cambridge Investment Research Advisors Inc. increased its stake in CRISPR Therapeutics by 14.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,189 shares of the company's stock worth $1,334,000 after purchasing an additional 4,914 shares during the period. Finally, Green Alpha Advisors LLC increased its stake in shares of CRISPR Therapeutics by 132.9% during the first 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. Hedge funds and other institutional investors own 69.20% of the company's stock.

CRISPR Therapeutics Stock Performance

CRSP traded down $0.4910 on Thursday, hitting $52.5790. The company had a trading volume of 536,030 shares, compared to its average volume of 2,609,776. The stock has a fifty day moving average price of $54.26 and a 200-day moving average price of $44.69. CRISPR Therapeutics AG has a 12-month low of $30.04 and a 12-month high of $71.13. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of -9.66 and a beta of 1.80.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating 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 company had revenue of $0.89 million for the quarter, compared to analyst estimates of $6.44 million. During the same quarter in the previous year, the firm earned ($1.49) earnings per share. The firm's quarterly revenue was up 72.5% compared to the same quarter last year. Analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRSP. Royal Bank Of Canada raised their price target on CRISPR Therapeutics from $38.00 to $42.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group cut their price target on CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Bank of America cut their price target on CRISPR Therapeutics from $79.00 to $78.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Needham & Company LLC restated a "buy" rating and set a $81.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, July 8th. Finally, Barclays raised their price target on CRISPR Therapeutics from $42.00 to $56.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. 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 has a consensus rating of "Moderate Buy" and a consensus price target of $71.60.

Insider Activity

In related news, Director Simeon George bought 989,812 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were bought at an average price of $52.03 per share, for a total transaction of $51,499,918.36. Following the completion of the purchase, the director directly owned 1,730,179 shares of the company's stock, valued at approximately $90,021,213.37. This trade represents a 133.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $141,316.08. Following the completion of the transaction, the insider owned 6,068 shares in the company, valued at $218,083.92. This trade represents a 39.32% decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

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.