Goldman Sachs Group Inc. Sells 49,946 Shares of CRISPR Therapeutics AG $CRSP

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. cut its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 25.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,328 shares of the company's stock after selling 49,946 shares during the quarter. Goldman Sachs Group Inc. owned 0.17% of CRISPR Therapeutics worth $5,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRSP. SVB Wealth LLC bought a new stake in CRISPR Therapeutics during the 1st quarter worth approximately $25,000. Wood Tarver Financial Group LLC bought a new stake in CRISPR Therapeutics during the 4th quarter worth approximately $30,000. Costello Asset Management INC bought a new stake in CRISPR Therapeutics during the 1st quarter worth approximately $27,000. Ameriflex Group Inc. bought a new stake in CRISPR Therapeutics during the 4th quarter worth approximately $36,000. Finally, Quantbot Technologies LP grew its holdings in CRISPR Therapeutics by 272.4% during the 1st quarter. Quantbot Technologies LP now owns 1,337 shares of the company's stock worth $45,000 after acquiring an additional 978 shares during the last quarter. 69.20% of the stock is owned by institutional investors.

CRISPR Therapeutics Stock Up 5.8%

CRISPR Therapeutics stock opened at $61.19 on Wednesday. CRISPR Therapeutics AG has a 12-month low of $30.04 and a 12-month high of $71.13. The firm's fifty day moving average is $56.99 and its 200 day moving average is $45.95. The company has a market capitalization of $5.57 billion, a PE ratio of -11.27 and a beta of 1.81.

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

Insider Activity

In related news, Director Simeon George bought 989,812 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 1,730,179 shares of the company's stock, valued at approximately $90,021,213.37. The trade was a 133.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. HC Wainwright boosted their target price on shares of CRISPR Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Chardan Capital reissued a "buy" rating and set a $82.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, August 5th. Bank of America reduced their target price on shares of CRISPR Therapeutics from $79.00 to $78.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Zacks Research raised shares of CRISPR Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Barclays upped their price objective on shares of 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 research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $71.60.

CRISPR Therapeutics 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.

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