Geode Capital Management LLC Boosts Stock Holdings in CRISPR Therapeutics AG $CRSP

Key Points

• Geode Capital Management increased its CRISPR Therapeutics stake by 5.0% in the fourth quarter, adding 108,053 shares and bringing its total position to 2.25 million shares worth about $118 million.
• Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $65.47. Several firms recently raised targets, though one analyst maintained a sell rating.
• CRISPR Therapeutics shares were down 9.0% to $51.84, and the company continues to report losses, posting EPS of -$1.28 for the latest quarter on just $1.46 million in revenue.

Geode Capital Management LLC grew its position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,249,223 shares of the company's stock after acquiring an additional 108,053 shares during the quarter. Geode Capital Management LLC owned 2.36% of CRISPR Therapeutics worth $117,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CRSP. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of CRISPR Therapeutics by 5.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,516 shares of the company's stock worth $228,000 after purchasing an additional 180 shares during the period. Cerity Partners LLC raised its stake in shares of CRISPR Therapeutics by 3.0% during the 2nd quarter. Cerity Partners LLC now owns 6,541 shares of the company's stock worth $318,000 after purchasing an additional 190 shares during the period. Peapack Gladstone Financial Corp raised its stake in shares of CRISPR Therapeutics by 3.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company's stock worth $339,000 after purchasing an additional 200 shares during the period. Optiver Holding B.V. raised its stake in shares of CRISPR Therapeutics by 71.4% during the 3rd quarter. Optiver Holding B.V. now owns 504 shares of the company's stock worth $33,000 after purchasing an additional 210 shares during the period. Finally, US Bancorp DE raised its stake in shares of CRISPR Therapeutics by 4.5% during the 3rd quarter. US Bancorp DE now owns 5,777 shares of the company's stock worth $374,000 after purchasing an additional 249 shares during the period. 69.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRSP has been the topic of a number of research reports. Chardan Capital boosted their price objective on CRISPR Therapeutics from $74.00 to $76.00 and gave the company a "buy" rating in a research note on Saturday, February 14th. Evercore restated an "outperform" rating and issued a $76.00 price objective on shares of CRISPR Therapeutics in a research note on Monday, May 11th. Sanford C. Bernstein boosted their price objective on CRISPR Therapeutics from $50.00 to $56.00 and gave the company a "market perform" rating in a research note on Wednesday, May 13th. Needham & Company LLC boosted their price objective on CRISPR Therapeutics from $80.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, February 13th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of CRISPR Therapeutics in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.47.

CRISPR Therapeutics Trading Down 9.0%

Shares of CRSP opened at $51.84 on Friday. The business's 50-day moving average price is $52.03 and its 200-day moving average price is $53.14. CRISPR Therapeutics AG has a twelve month low of $39.58 and a twelve month high of $78.48. The stock has a market cap of $5.00 billion, a PE ratio of -8.33 and a beta of 1.74. 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 (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. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. The company had revenue of $1.46 million for the quarter. On average, equities analysts forecast that CRISPR Therapeutics AG will post -4.92 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel James R. Kasinger sold 3,182 shares of the business's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $46.78, for a total transaction of $148,853.96. Following the completion of the transaction, the general counsel owned 94,308 shares of the company's stock, valued at approximately $4,411,728.24. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Naimish Patel sold 3,786 shares of the business's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $55.62, for a total value of $210,577.32. Following the transaction, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 46,535 shares of company stock worth $2,311,300 over the last ninety days. Company insiders own 4.30% of the company's stock.

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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