CRISPR Therapeutics AG $CRSP Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in CRISPR Therapeutics by 25.3%, selling 49,946 shares and now holding 147,328 shares valued at approximately $5 million.
• CRISPR Therapeutics reported a quarterly revenue of $0.89 million, significantly below the consensus estimate of $6.44 million, although it experienced a 72.5% increase compared to the previous year.
• Analysts are optimistic about CRISPR Therapeutics, with multiple firms increasing their target prices and ratings, averaging a consensus target price of $71.60 per share.

Goldman Sachs Group Inc. lessened its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 25.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,328 shares of the company's stock after selling 49,946 shares during the period. Goldman Sachs Group Inc. owned about 0.17% of CRISPR Therapeutics worth $5,014,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CRSP. SVB Wealth LLC bought a new position in CRISPR Therapeutics in the first quarter worth approximately $25,000. Costello Asset Management INC bought a new position in CRISPR Therapeutics in the first quarter worth approximately $27,000. Wood Tarver Financial Group LLC bought a new position in CRISPR Therapeutics in the fourth quarter worth approximately $30,000. Ameriflex Group Inc. bought a new position in CRISPR Therapeutics in the fourth quarter worth approximately $36,000. Finally, Quantbot Technologies LP raised its stake in CRISPR Therapeutics by 272.4% in the first quarter. Quantbot Technologies LP now owns 1,337 shares of the company's stock worth $45,000 after buying an additional 978 shares in the last quarter. Institutional investors own 69.20% of the company's stock.

CRISPR Therapeutics Price Performance

NASDAQ:CRSP traded down $0.62 during mid-day trading on Friday, hitting $62.32. The company's stock had a trading volume of 5,230,366 shares, compared to its average volume of 1,908,551. CRISPR Therapeutics AG has a 1 year low of $30.04 and a 1 year high of $71.13. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of -11.48 and a beta of 1.81. The business's fifty day moving average is $57.16 and its two-hundred day moving average is $46.31.

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

Insider Activity

In other news, Director Simeon George bought 989,812 shares of the stock in a transaction dated Wednesday, July 16th. The shares were acquired at an average cost of $52.03 per share, with a total value of $51,499,918.36. Following the purchase, the director directly owned 1,730,179 shares in the company, valued at $90,021,213.37. The trade was a 133.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRSP. Piper Sandler reaffirmed an "overweight" rating and set a $105.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Zacks Research raised CRISPR Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. JMP Securities reaffirmed a "market outperform" rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Barclays upped their price target on CRISPR Therapeutics from $42.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. 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. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $71.50.

CRISPR Therapeutics Company 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.