Vanguard Group Inc. Reduces Stock Position in CRISPR Therapeutics AG $CRSP

Key Points

• Vanguard Group reduced its CRISPR Therapeutics stake by 4.1% in the fourth quarter, selling 96,251 shares and leaving it with 2.27 million shares valued at about $119 million.
• Other institutional investors were active as well, with several hedge funds increasing or initiating positions; overall, 69.2% of CRISPR Therapeutics shares are held by hedge funds and other institutional investors.
• Analysts remain mixed on CRSP, with ratings ranging from Strong Buy to Sell; the stock currently carries a Moderate Buy consensus and an average price target of $66.06, while insiders have also been net sellers over the last 90 days.

Vanguard Group Inc. cut its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,268,394 shares of the company's stock after selling 96,251 shares during the period. Vanguard Group Inc. owned 2.38% of CRISPR Therapeutics worth $118,955,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of CRISPR Therapeutics by 196.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company's stock worth $30,000 after acquiring an additional 382 shares during the period. Optiver Holding B.V. grew its position in shares of CRISPR Therapeutics by 71.4% in the third quarter. Optiver Holding B.V. now owns 504 shares of the company's stock valued at $33,000 after purchasing an additional 210 shares in the last quarter. Strategic Advocates LLC purchased a new stake in CRISPR Therapeutics during the 3rd quarter worth about $34,000. Strategic Wealth Investment Group LLC purchased a new stake in CRISPR Therapeutics during the 2nd quarter worth about $36,000. Finally, Bogart Wealth LLC boosted its stake in CRISPR Therapeutics by 333.3% in the 3rd quarter. Bogart Wealth LLC now owns 650 shares of the company's stock worth $42,000 after purchasing an additional 500 shares during the period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CRSP shares. Bank of America decreased their price target on CRISPR Therapeutics from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Thursday, January 22nd. Morgan Stanley reaffirmed an "underweight" rating and set a $33.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, February 17th. Citizens Jmp decreased their target price on shares of CRISPR Therapeutics from $86.00 to $80.00 and set a "market outperform" rating on the stock in a report on Friday, January 30th. Chardan Capital raised their price target on shares of CRISPR Therapeutics from $74.00 to $76.00 and gave the company a "buy" rating in a report on Saturday, February 14th. Finally, TD Cowen boosted their price target on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the company a "hold" rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $66.06.

Insiders Place Their Bets

In other news, General Counsel James R. Kasinger sold 3,182 shares of the company's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $46.78, for a total value of $148,853.96. Following the completion of the transaction, the general counsel directly owned 94,308 shares in the company, valued at approximately $4,411,728.24. This represents a 3.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Naimish Patel sold 3,150 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $48.26, for a total value of $152,019.00. Following the transaction, the insider directly owned 13,143 shares in the company, valued at approximately $634,281.18. This represents a 19.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 51,828 shares of company stock valued at $2,578,097 over the last 90 days. Insiders own 4.10% of the company's stock.

CRISPR Therapeutics Price Performance

CRSP stock opened at $52.83 on Wednesday. The firm has a 50 day simple moving average of $52.03 and a two-hundred day simple moving average of $54.03. The stock has a market cap of $5.10 billion, a PE ratio of -8.49 and a beta of 1.74. CRISPR Therapeutics AG has a one year low of $34.87 and a one year high of $78.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 17.97 and a quick ratio of 17.96.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($1.28) earnings per share for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. The company had revenue of $1.46 million for the quarter. On average, analysts predict that CRISPR Therapeutics AG will post -5.07 EPS for the current fiscal year.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.

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