EverSource Wealth Advisors LLC Has $4.27 Million Stock Position in CRISPR Therapeutics AG $CRSP

Key Points

• EverSource Wealth Advisors increased its CRISPR Therapeutics stake by 56.1% in the first quarter to 89,683 shares worth approximately $4.27 million. Institutional investors and hedge funds collectively own 69.2% of the company.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $67.78, although ratings range from Strong Buy to Sell.
• CRSP opened at $47.64, well below its 52-week high of $78.48, while the company remains unprofitable and analysts expect a full-year loss of approximately $4.90 per share.

EverSource Wealth Advisors LLC lifted its stake in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 56.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,683 shares of the company's stock after purchasing an additional 32,218 shares during the period. EverSource Wealth Advisors LLC owned 0.09% of CRISPR Therapeutics worth $4,266,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CRSP. Royal Bank of Canada lifted its stake in CRISPR Therapeutics by 28.2% in the first quarter. Royal Bank of Canada now owns 142,696 shares of the company's stock valued at $4,856,000 after buying an additional 31,392 shares during the period. AQR Capital Management LLC acquired a new position in shares of CRISPR Therapeutics during the 1st quarter worth about $861,000. Woodline Partners LP grew its position in shares of CRISPR Therapeutics by 34.3% during the 1st quarter. Woodline Partners LP now owns 136,483 shares of the company's stock worth $4,645,000 after buying an additional 34,883 shares during the period. Prudential Financial Inc. bought a new stake in shares of CRISPR Therapeutics in the 2nd quarter valued at about $237,000. Finally, Invesco Ltd. raised its position in shares of CRISPR Therapeutics by 138.4% in the 2nd quarter. Invesco Ltd. now owns 66,648 shares of the company's stock valued at $3,242,000 after acquiring an additional 38,691 shares during the period. 69.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CRSP. Weiss Ratings restated a "sell (d-)" rating on shares of CRISPR Therapeutics in a report on Friday, July 17th. HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of CRISPR Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, July 5th. Citigroup restated a "market outperform" rating on shares of CRISPR Therapeutics in a research report on Wednesday, July 22nd. Finally, Sanford C. Bernstein raised their price objective on CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.78.

Insider Activity at CRISPR Therapeutics

In related news, insider Naimish Patel sold 3,786 shares of the firm's 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 directly owned 19,357 shares in the company, valued at $1,076,636.34. This trade represents a 16.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is currently owned by insiders.

CRISPR Therapeutics Price Performance

NASDAQ CRSP opened at $47.64 on Thursday. The business has a 50 day simple moving average of $52.60 and a 200 day simple moving average of $52.49. CRISPR Therapeutics AG has a 52-week low of $44.12 and a 52-week high of $78.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 17.96 and a current ratio of 17.97. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of -7.66 and a beta of 1.71.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share for the quarter. The company had revenue of $1.46 million during the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. Analysts anticipate that CRISPR Therapeutics AG will post -4.9 earnings per share for the current fiscal year.

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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