McElhenny Sheffield Capital Management LLC Invests $6.62 Million in CRISPR Therapeutics AG $CRSP

Key Points

• McElhenny Sheffield Capital Management LLC invested approximately $6.62 million in CRISPR Therapeutics AG, acquiring 136,000 shares during the second quarter.
• Director Simeon George significantly increased his position by acquiring 989,812 shares at an average cost of $52.03 each, totaling over $51 million.
• CRISPR Therapeutics reported an earnings per share (EPS) of ($1.29) for the last quarter, exceeding analysts' expectations, with a revenue of $0.89 million, well below estimates.

McElhenny Sheffield Capital Management LLC acquired a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 136,000 shares of the company's stock, valued at approximately $6,615,000. McElhenny Sheffield Capital Management LLC owned 0.16% of CRISPR Therapeutics as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. ARK Investment Management LLC grew its position in CRISPR Therapeutics by 13.3% in the 1st quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company's stock valued at $345,929,000 after purchasing an additional 1,192,336 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in CRISPR Therapeutics by 182.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company's stock valued at $66,452,000 after purchasing an additional 1,262,560 shares during the period. Vanguard Group Inc. grew its position in CRISPR Therapeutics by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company's stock valued at $60,223,000 after purchasing an additional 33,711 shares during the period. Orbis Allan Gray Ltd grew its position in CRISPR Therapeutics by 5.9% in the 1st quarter. Orbis Allan Gray Ltd now owns 1,562,932 shares of the company's stock valued at $53,187,000 after purchasing an additional 86,813 shares during the period. Finally, Millennium Management LLC grew its position in CRISPR Therapeutics by 6,769.1% in the 1st quarter. Millennium Management LLC now owns 583,733 shares of the company's stock valued at $19,864,000 after purchasing an additional 575,235 shares during the period. Institutional investors and hedge funds own 69.20% of the company's stock.

Insider Transactions 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 acquired at an average cost of $52.03 per share, for a total transaction of $51,499,918.36. Following the purchase, the director 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CRSP. Needham & Company LLC reissued a "buy" rating and issued a $81.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, July 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CRISPR Therapeutics in a report on Wednesday. Barclays lifted their price objective on shares of CRISPR Therapeutics from $42.00 to $56.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Zacks Research raised shares of CRISPR Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Bank of America cut their price objective 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. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, CRISPR Therapeutics presently has a consensus rating of "Hold" and an average target price of $71.50.

CRISPR Therapeutics Price Performance

NASDAQ CRSP opened at $76.78 on Thursday. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of -14.14 and a beta of 1.84. CRISPR Therapeutics AG has a one year low of $30.04 and a one year high of $78.48. The business's fifty day moving average is $58.43 and its 200-day moving average is $48.41.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its earnings results on Monday, August 4th. The company reported ($1.29) EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $0.89 million for the quarter, compared to analysts' expectations of $6.44 million. During the same period in the previous year, the business posted ($1.49) EPS. 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 EPS for the current fiscal year.

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.

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