Hedges Asset Management LLC Has $1.20 Million Position in CRISPR Therapeutics AG $CRSP

Key Points

• Hedges Asset Management LLC has reduced its holdings in CRISPR Therapeutics AG by 15.8%, now owning 24,700 shares worth approximately $1.2 million.
• Several hedge funds, including UBS AM and Millennium Management, have significantly increased their investments in CRISPR, highlighting a shift in institutional sentiment towards the stock.
• CRISPR Therapeutics reported a loss of ($1.29) EPS for its latest quarter, while its revenue fell short of expectations, amounting to only $0.89 million.

Hedges Asset Management LLC lowered its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 15.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,700 shares of the company's stock after selling 4,650 shares during the quarter. Hedges Asset Management LLC's holdings in CRISPR Therapeutics were worth $1,201,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CRSP. Northern Trust Corp boosted its position in CRISPR Therapeutics by 12.9% during the fourth quarter. Northern Trust Corp now owns 257,168 shares of the company's stock worth $10,122,000 after purchasing an additional 29,416 shares during the period. Ameriprise Financial Inc. boosted its position in shares of CRISPR Therapeutics by 9.9% in the fourth quarter. Ameriprise Financial Inc. now owns 205,173 shares of the company's stock valued at $8,072,000 after acquiring an additional 18,412 shares during the period. Deutsche Bank AG boosted its position in shares of CRISPR Therapeutics by 65.0% in the fourth quarter. Deutsche Bank AG now owns 8,133 shares of the company's stock valued at $320,000 after acquiring an additional 3,205 shares during the period. Focus Partners Wealth bought a new stake in shares of CRISPR Therapeutics in the fourth quarter valued at approximately $239,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CRISPR Therapeutics by 21.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,967 shares of the company's stock valued at $3,143,000 after acquiring an additional 14,125 shares during the period. Institutional investors own 69.20% of the company's stock.

Analyst Upgrades and Downgrades

CRSP has been the subject of several research reports. Chardan Capital reissued a "buy" rating and issued a $82.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, August 5th. Bank of America reduced their price objective on CRISPR Therapeutics from $79.00 to $78.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. Piper Sandler reissued an "overweight" rating and issued a $105.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, June 27th. HC Wainwright increased their price objective on CRISPR Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada raised their target price on CRISPR Therapeutics from $38.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 5th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $71.50.

CRISPR Therapeutics Stock Down 0.1%

CRISPR Therapeutics stock traded down $0.06 during mid-day trading on Friday, hitting $62.88. 2,144,949 shares of the company were exchanged, compared to its average volume of 2,546,740. The business has a fifty day moving average of $57.05 and a 200 day moving average of $46.18. CRISPR Therapeutics AG has a 1-year low of $30.04 and a 1-year high of $71.13. The company has a market capitalization of $5.72 billion, a PE ratio of -11.56 and a beta of 1.81.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported ($1.29) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $0.89 million during the quarter, compared to analyst estimates of $6.44 million. During the same period in the prior year, the company posted ($1.49) earnings per share. The business's revenue for the quarter was up 72.5% compared to the same quarter last year. Research analysts expect that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insider Activity

In other CRISPR Therapeutics news, Director Simeon George acquired 989,812 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was acquired at an average cost of $52.03 per share, for a total transaction of $51,499,918.36. Following the transaction, the director owned 1,730,179 shares of the company's stock, valued at $90,021,213.37. This trade represents a 133.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.30% of the company's stock.

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.