IVC Wealth Advisors LLC Makes New Investment in CRISPR Therapeutics AG $CRSP

Key Points

• IVC Wealth Advisors LLC has invested approximately $225,000 in CRISPR Therapeutics AG, acquiring 4,616 shares during the second quarter of 2023.
• Insider buying was notable as Director Simeon George purchased 989,812 shares for about $51.5 million, increasing his position by 133.69%.
• Analysts have mixed ratings for CRISPR Therapeutics, with target prices ranging from $38.00 to $105.00, indicating a possible average target of $71.50.

IVC Wealth Advisors LLC purchased a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,616 shares of the company's stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. SFE Investment Counsel increased its stake in CRISPR Therapeutics by 5.8% during the first quarter. SFE Investment Counsel now owns 6,507 shares of the company's stock worth $221,000 after purchasing an additional 355 shares during the period. Axxcess Wealth Management LLC increased its stake in CRISPR Therapeutics by 4.0% during the first quarter. Axxcess Wealth Management LLC now owns 10,309 shares of the company's stock worth $351,000 after purchasing an additional 393 shares during the period. GF Fund Management CO. LTD. increased its stake in CRISPR Therapeutics by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 2,186 shares of the company's stock worth $74,000 after purchasing an additional 394 shares during the period. Ipswich Investment Management Co. Inc. increased its stake in CRISPR Therapeutics by 1.7% during the second quarter. Ipswich Investment Management Co. Inc. now owns 24,968 shares of the company's stock worth $1,214,000 after purchasing an additional 425 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in CRISPR Therapeutics by 2.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 23,195 shares of the company's stock worth $1,128,000 after purchasing an additional 450 shares during the period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CRISPR Therapeutics

In other news, Director Simeon George acquired 989,812 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were purchased at an average cost 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 in the company, valued at approximately $90,021,213.37. This represents a 133.69% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 4.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CRSP has been the topic of a number of recent research reports. Royal Bank Of Canada upped their target price on shares of CRISPR Therapeutics from $38.00 to $42.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 5th. Piper Sandler restated an "overweight" rating and set a $105.00 target price on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Zacks Research upgraded shares of CRISPR Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Bank of America cut their target price on shares of CRISPR Therapeutics from $79.00 to $78.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Finally, Chardan Capital restated a "buy" rating and set a $82.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, August 5th. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, CRISPR Therapeutics has an average rating of "Hold" and an average target price of $71.50.

CRISPR Therapeutics Trading Down 7.0%

CRSP stock opened at $67.74 on Friday. The company has a market capitalization of $6.16 billion, a P/E ratio of -12.48 and a beta of 1.84. CRISPR Therapeutics AG has a twelve month low of $30.04 and a twelve month high of $73.95. The business has a 50 day simple moving average of $57.69 and a 200-day simple moving average of $47.81.

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

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.

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