Tyche Wealth Partners LLC Increases Position in CRISPR Therapeutics AG $CRSP

Key Points

• Tyche Wealth Partners LLC increased its position in CRISPR Therapeutics by 71.9% during the second quarter, now owning 15,785 shares valued at approximately $768,000.
• Multiple institutional investors, including Ark Investment Management and Millennium Management LLC, have also significantly boosted their holdings in CRISPR Therapeutics, reflecting strong institutional interest.
• CRISPR Therapeutics reported a quarterly loss of ($1.29) per share, which was better than the consensus estimate, and revenue surged by 72.5% year-over-year despite coming in below analyst expectations.

Tyche Wealth Partners LLC grew its position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 71.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,785 shares of the company's stock after purchasing an additional 6,600 shares during the period. Tyche Wealth Partners LLC's holdings in CRISPR Therapeutics were worth $768,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. ARK Investment Management LLC raised its holdings in shares of 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 buying an additional 1,192,336 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in CRISPR Therapeutics by 182.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company's stock worth $66,452,000 after purchasing an additional 1,262,560 shares during the period. Vanguard Group Inc. lifted its position in shares of CRISPR Therapeutics by 1.9% during the first quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company's stock worth $60,223,000 after purchasing an additional 33,711 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of CRISPR Therapeutics by 5.9% in the first 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 holdings in shares of CRISPR Therapeutics by 6,769.1% in the first 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 in the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Simeon George acquired 989,812 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were bought at an average price of $52.03 per share, with a total value of $51,499,918.36. Following the completion of the acquisition, the director owned 1,730,179 shares in the company, valued at $90,021,213.37. This trade represents a 133.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.30% of the stock is owned by corporate insiders.

CRISPR Therapeutics Price Performance

Shares of NASDAQ CRSP opened at $70.19 on Tuesday. The business has a 50-day moving average of $57.82 and a two-hundred day moving average of $48.06. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of -12.93 and a beta of 1.84. CRISPR Therapeutics AG has a 1 year low of $30.04 and a 1 year high of $73.95.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($1.29) earnings per share for the quarter, topping the consensus estimate of ($1.47) by $0.18. The business had revenue of $0.89 million for the quarter, compared to analyst estimates 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 business's quarterly revenue was up 72.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.49) EPS. As a group, equities research analysts expect that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRSP. Barclays raised their price target on shares of CRISPR Therapeutics from $42.00 to $56.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Zacks Research upgraded CRISPR Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CRISPR Therapeutics in a research report on Saturday, September 27th. Royal Bank Of Canada lifted their price objective on CRISPR Therapeutics from $38.00 to $42.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 5th. Finally, 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. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $71.50.

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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