Reynders McVeigh Capital Management LLC Sells 92,373 Shares of CRISPR Therapeutics AG $CRSP

Key Points

• Reynders McVeigh Capital Management cut its CRISPR Therapeutics stake by 74.8% in the second quarter, selling 92,373 shares and retaining 31,065 shares valued at approximately $1.69 million.
• CRISPR Therapeutics shares fell 2.1% to $51.83, while the company reported a quarterly loss of $0.94 per share on $10.18 million in revenue. Institutional investors collectively own 69.2% of the stock.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $68.06, although ratings range from Strong Buy to Sell.

Reynders McVeigh Capital Management LLC decreased its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 74.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,065 shares of the company's stock after selling 92,373 shares during the period. Reynders McVeigh Capital Management LLC's holdings in CRISPR Therapeutics were worth $1,694,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of CRISPR Therapeutics during the fourth quarter worth approximately $25,706,000. Quantinno Capital Management LP increased its holdings in shares of CRISPR Therapeutics by 613.5% in the first quarter. Quantinno Capital Management LP now owns 47,989 shares of the company's stock valued at $2,283,000 after purchasing an additional 41,263 shares in the last quarter. Canal Insurance CO acquired a new stake in shares of CRISPR Therapeutics in the first quarter valued at approximately $1,670,000. Leonteq Securities AG bought a new position in CRISPR Therapeutics in the 4th quarter worth approximately $1,155,000. Finally, Blue Jean Financial LLC acquired a new position in CRISPR Therapeutics during the 4th quarter worth $1,470,000. Institutional investors own 69.20% of the company's stock.

CRISPR Therapeutics Stock Down 2.1%

NASDAQ CRSP traded down $1.13 on Tuesday, reaching $51.83. The company had a trading volume of 1,248,127 shares, compared to its average volume of 1,739,759. The company's fifty day moving average is $53.31 and its 200-day moving average is $52.91. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -10.89 and a beta of 1.76. The company has a debt-to-equity ratio of 0.34, a quick ratio of 17.85 and a current ratio of 17.85. CRISPR Therapeutics AG has a 1-year low of $44.12 and a 1-year high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share (EPS) for the quarter. The firm had revenue of $10.18 million during the quarter. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%. On average, research analysts forecast that CRISPR Therapeutics AG will post -4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group set a $80.00 target price on CRISPR Therapeutics in a research note on Friday, June 12th. Citigroup reiterated a "market outperform" rating on shares of CRISPR Therapeutics in a research report on Tuesday, August 25th. Needham & Company LLC reiterated a "buy" rating and set a $82.00 price target on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CRISPR Therapeutics in a research note on Friday, July 17th. Finally, Morgan Stanley set a $60.00 price target on CRISPR Therapeutics and gave the company an "equal weight" rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, CRISPR Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $68.06.

About CRISPR Therapeutics

CRISPR Therapeutics AG NASDAQ: CRSP is a biotechnology company focused on developing gene-editing medicines using CRISPR/Cas9 technology. The company's programs are designed to modify disease-associated genes in human cells, with the goal of treating serious conditions across hematology, oncology, autoimmune disease and regenerative medicine.

Its most advanced product is Casgevy (exa-cel), an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals. Casgevy uses CRISPR/Cas9 gene editing to modify a patient's blood stem cells and is approved in several markets for eligible patients with sickle cell disease and transfusion-dependent beta thalassemia.

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