Moran Wealth Management LLC Makes New Investment in CRISPR Therapeutics AG $CRSP

Key Points

• Moran Wealth Management LLC acquired 13,654 shares of CRISPR Therapeutics AG valued at approximately $664,000, indicating growing interest from institutional investors in the biotech sector.
• CRISPR Therapeutics reported a loss of ($1.29) per share for the last quarter, surpassing analysts' expectations, though revenue fell short of forecasts at $0.89 million.
• Analysts have set a strong outlook for the stock, with target prices ranging from $56.00 to $105.00, reflecting a consensus rating of "Hold."

Moran Wealth Management LLC acquired a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,654 shares of the company's stock, valued at approximately $664,000.

Several other hedge funds have also recently bought and sold shares of CRSP. GAMMA Investing LLC lifted its position in CRISPR Therapeutics by 8,146.2% during the first quarter. GAMMA Investing LLC now owns 4,288 shares of the company's stock worth $146,000 after acquiring an additional 4,236 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of CRISPR Therapeutics by 46.7% during the first quarter. Farther Finance Advisors LLC now owns 5,626 shares of the company's stock worth $186,000 after purchasing an additional 1,792 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of CRISPR Therapeutics by 244.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 94,100 shares of the company's stock worth $3,202,000 after purchasing an additional 66,789 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of CRISPR Therapeutics by 55.7% during the first quarter. Janney Montgomery Scott LLC now owns 10,703 shares of the company's stock worth $364,000 after purchasing an additional 3,827 shares during the period. Finally, Sowell Financial Services LLC increased its holdings in shares of CRISPR Therapeutics by 8.4% during the first quarter. Sowell Financial Services LLC now owns 11,554 shares of the company's stock worth $393,000 after purchasing an additional 900 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CRSP. JPMorgan Chase & Co. began coverage on shares of CRISPR Therapeutics in a report on Thursday, September 18th. They set an "overweight" rating and a $70.00 target price on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $105.00 target price on shares of CRISPR Therapeutics in a report on Friday, June 27th. Wells Fargo & Company set a $75.00 target price on shares of CRISPR Therapeutics in a report on Monday. Barclays raised their target price 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. Finally, Chardan Capital reaffirmed a "buy" rating and set a $82.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $71.71.

CRISPR Therapeutics Stock Performance

NASDAQ CRSP opened at $68.43 on Friday. The firm's fifty day moving average price is $60.15 and its two-hundred day moving average price is $49.75. The stock has a market cap of $6.22 billion, a PE ratio of -12.60 and a beta of 1.84. CRISPR Therapeutics AG has a fifty-two week low of $30.04 and a fifty-two week high of $78.48.

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

Insiders Place Their Bets

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,076 shares of the business's stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total transaction of $71,661.60. Following the sale, the general counsel owned 83,402 shares of the company's stock, valued at approximately $5,554,573.20. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 4,242 shares of the business's stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total transaction of $282,517.20. Following the sale, the chief executive officer directly owned 205,096 shares in the company, valued at approximately $13,659,393.60. The trade was a 2.03% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.30% of the company's stock.

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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