Virtu Financial LLC Purchases New Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Key Points

• Virtu Financial LLC recently acquired a new position in CRISPR Therapeutics AG, buying 14,014 shares valued at approximately $477,000.
• The company's latest earnings report showed a loss of ($1.29) earnings per share, which was better than the expected loss of ($1.47), but revenue fell short of estimates at $0.89 million.
• Analysts have mixed views on CRISPR's stock, with target price adjustments ranging from $47.00 to $86.00, reflecting a consensus rating of "Hold" and an average target price of $71.60.

Virtu Financial LLC purchased a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 14,014 shares of the company's stock, valued at approximately $477,000.

Several other large investors have also made changes to their positions in the company. Costello Asset Management INC acquired a new stake in CRISPR Therapeutics in the first quarter valued at approximately $27,000. Wood Tarver Financial Group LLC acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $30,000. Ameriflex Group Inc. acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $36,000. NBC Securities Inc. boosted its position in CRISPR Therapeutics by 156,300.0% in the first quarter. NBC Securities Inc. now owns 1,564 shares of the company's stock valued at $53,000 after buying an additional 1,563 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 69.20% of the company's stock.

CRISPR Therapeutics Price Performance

Shares of NASDAQ:CRSP traded up $0.91 during midday trading on Friday, hitting $59.73. 3,060,144 shares of the company's stock were exchanged, compared to its average volume of 3,828,408. The stock has a 50 day moving average price of $53.49 and a 200-day moving average price of $44.44. The company has a market cap of $5.43 billion, a PE ratio of -11.00 and a beta of 1.80. CRISPR Therapeutics AG has a 12 month low of $30.04 and a 12 month high of $71.13.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly 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. CRISPR Therapeutics had a negative net margin of 1,229.43% and a negative return on equity of 20.05%. The business had revenue of $0.89 million for the quarter, compared to analysts' expectations of $6.44 million. During the same period in the previous year, the company earned ($1.49) earnings per share. The firm'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 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on CRSP shares. The Goldman Sachs Group cut their target price on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. 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. Royal Bank Of Canada lifted their price target on shares of CRISPR Therapeutics from $38.00 to $42.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 5th. HC Wainwright lifted their price target on shares of CRISPR Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $81.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, CRISPR Therapeutics currently has an average rating of "Hold" and a consensus target price of $71.60.

Insider Activity

In related news, insider Naimish Patel sold 3,932 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $35.94, for a total transaction of $141,316.08. Following the transaction, the insider directly owned 6,068 shares in the company, valued at approximately $218,083.92. The trade was a 39.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Simeon George purchased 989,812 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were purchased at an average price of $52.03 per share, for a total transaction of $51,499,918.36. Following the completion of the acquisition, the director owned 1,730,179 shares of the company's stock, valued at $90,021,213.37. The trade was a 133.69% increase in their position. The disclosure for this purchase can be found here. 4.30% of the stock is currently owned by insiders.

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.