CRISPR Therapeutics AG $CRSP Shares Purchased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management significantly increased its holdings in CRISPR Therapeutics AG by 182.9%, acquiring an additional 1,262,560 shares, bringing their total ownership to approximately 2.26% of the company.
• CRISPR Therapeutics reported an earnings per share (EPS) of ($1.29) for the last quarter, exceeding expectations, despite the total revenue of $0.89 million falling short of analyst predictions.
• Multiple analysts have raised their price targets on CRISPR shares, with Piper Sandler maintaining an "overweight" rating and setting a target at $105.00, indicating strong investor interest and confidence in the stock.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 182.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,952,751 shares of the company's stock after acquiring an additional 1,262,560 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 2.26% of CRISPR Therapeutics worth $66,452,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. ARK Investment Management LLC boosted its position in shares of CRISPR Therapeutics by 13.3% during the first quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company's stock worth $345,929,000 after buying an additional 1,192,336 shares during the period. Millennium Management LLC increased 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 acquiring an additional 575,235 shares during the period. Two Sigma Investments LP boosted its holdings in CRISPR Therapeutics by 71.1% in the 4th quarter. Two Sigma Investments LP now owns 306,272 shares of the company's stock valued at $12,055,000 after purchasing an additional 127,219 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of CRISPR Therapeutics by 5.9% during the 1st quarter. Orbis Allan Gray Ltd now owns 1,562,932 shares of the company's stock worth $53,187,000 after acquiring an additional 86,813 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in CRISPR Therapeutics by 49,248.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 84,880 shares of the company's stock valued at $2,888,000 after acquiring an additional 84,708 shares during the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

CRISPR Therapeutics Stock Performance

CRSP traded down $0.62 during mid-day trading on Friday, reaching $62.32. 5,230,366 shares of the stock were exchanged, compared to its average volume of 1,908,551. The company has a 50 day moving average price of $57.16 and a two-hundred day moving average price of $46.31. The stock has a market capitalization of $5.67 billion, a PE ratio of -11.48 and a beta of 1.81. CRISPR Therapeutics AG has a 1 year low of $30.04 and a 1 year high of $71.13.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its quarterly earnings data 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 company 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%. CRISPR Therapeutics's revenue for the quarter was up 72.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.49) earnings per share. Sell-side analysts expect that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on CRSP. Royal Bank Of Canada upped their price objective on shares of CRISPR Therapeutics from $38.00 to $42.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. initiated coverage on shares of CRISPR Therapeutics in a research note on Thursday. They issued an "overweight" rating and a $70.00 price objective for the company. Bank of America cut their price target 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. Piper Sandler reiterated an "overweight" rating and set a $105.00 target price on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Finally, Barclays boosted their price target on shares of CRISPR Therapeutics from $42.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CRISPR Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.50.

Insider Buying and Selling

In related news, Director Simeon George acquired 989,812 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was purchased at an average cost of $52.03 per share, for a total transaction of $51,499,918.36. Following the purchase, the director directly owned 1,730,179 shares of the company's stock, valued at $90,021,213.37. This trade represents a 133.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 4.30% of the stock is owned by company insiders.

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.