Trexquant Investment LP Takes Position in CRISPR Therapeutics AG $CRSP

Key Points

• Trexquant Investment LP has invested approximately $1.32 million in CRISPR Therapeutics AG, acquiring 38,831 shares during the first quarter.
• CRISPR Therapeutics reported a quarterly earnings per share of ($1.29), which was better than the expected ($1.47), but its revenue fell short of estimates at $0.89 million.
• Institutional investors collectively own 69.20% of CRISPR Therapeutics stock, with several hedge funds recently increasing their stakes significantly.

Trexquant Investment LP purchased a new position in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 38,831 shares of the company's stock, valued at approximately $1,321,000.

A number of other institutional investors also recently bought and sold shares of the stock. ARK Investment Management LLC raised its holdings 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 worth $345,929,000 after purchasing an additional 1,192,336 shares during the period. Vanguard Group Inc. raised its holdings in CRISPR Therapeutics by 1.9% during the first quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company's stock valued at $60,223,000 after acquiring an additional 33,711 shares during the period. Bank of America Corp DE raised its holdings in CRISPR Therapeutics by 12.0% during the fourth quarter. Bank of America Corp DE now owns 1,211,509 shares of the company's stock valued at $47,685,000 after acquiring an additional 129,746 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in CRISPR Therapeutics by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 690,191 shares of the company's stock valued at $27,166,000 after acquiring an additional 13,865 shares during the period. Finally, Two Sigma Investments LP raised its holdings in CRISPR Therapeutics by 71.1% during the fourth quarter. Two Sigma Investments LP now owns 306,272 shares of the company's stock valued at $12,055,000 after acquiring an additional 127,219 shares during the period. 69.20% of the stock is owned by institutional investors.

Insider Activity

In other CRISPR Therapeutics news, Director Simeon George bought 989,812 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was acquired at an average price of $52.03 per share, for a total transaction of $51,499,918.36. Following the completion of the transaction, the director directly owned 1,730,179 shares of the company's stock, valued at approximately $90,021,213.37. This represents a 133.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CRSP has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $81.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, July 8th. Piper Sandler reissued an "overweight" rating and set a $105.00 price target on shares of CRISPR Therapeutics in a report on Friday, June 27th. JMP Securities restated a "market outperform" rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Zacks Research upgraded CRISPR Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, Chardan Capital restated a "buy" rating and set a $82.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, CRISPR Therapeutics has an average rating of "Hold" and an average price target of $71.60.

CRISPR Therapeutics Stock Up 7.9%

CRSP traded up $4.08 on Thursday, hitting $55.89. The company had a trading volume of 2,201,777 shares, compared to its average volume of 1,899,655. The company has a market cap of $5.08 billion, a PE ratio of -10.29 and a beta of 1.81. CRISPR Therapeutics AG has a 12-month low of $30.04 and a 12-month high of $71.13. The business's fifty day simple moving average is $56.65 and its 200 day simple moving average is $45.64.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating 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 business had revenue of $0.89 million during the quarter, compared to analyst estimates of $6.44 million. During the same quarter in the previous year, the business earned ($1.49) earnings per share. The company's revenue for the quarter was up 72.5% compared to the same quarter last year. On average, analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

CRISPR Therapeutics 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.