Wealth Enhancement Trust Services Inc. Takes Position in CRISPR Therapeutics AG $CRSP

Key Points

• Wealth Enhancement Trust Services initiated a new position in CRISPR Therapeutics (NASDAQ:CRSP), buying 38,753 shares in Q4 valued at approximately $2.03 million.
• Company insiders have been net sellers recently: CEO Samarth Kulkarni sold 10,020 shares and the general counsel sold 3,182, with insiders disposing of 141,828 shares worth about $7.74 million over the last quarter (insiders now own 4.30%).
• Analyst sentiment is mixed but leaning positive with a consensus "Moderate Buy" and a $64.53 target, while the company reported a Q4 earnings miss (EPS of -$1.37 vs. -$1.15 expected) and a 97.8% year-over-year revenue decline; market cap is about $5.57 billion.

Wealth Enhancement Trust Services Inc. purchased a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,753 shares of the company's stock, valued at approximately $2,032,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in CRISPR Therapeutics by 5.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,516 shares of the company's stock worth $228,000 after buying an additional 180 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of CRISPR Therapeutics by 3.0% during the second quarter. Cerity Partners LLC now owns 6,541 shares of the company's stock valued at $318,000 after acquiring an additional 190 shares during the last quarter. Peapack Gladstone Financial Corp lifted its position in shares of CRISPR Therapeutics by 3.0% in the second quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company's stock valued at $339,000 after acquiring an additional 200 shares in the last quarter. Optiver Holding B.V. lifted 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 acquiring an additional 210 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of CRISPR Therapeutics by 4.5% in the third quarter. US Bancorp DE now owns 5,777 shares of the company's stock worth $374,000 after acquiring an additional 249 shares during the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 10,020 shares of the business's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $46.78, for a total value of $468,735.60. Following the transaction, the chief executive officer directly owned 255,501 shares in the company, valued at $11,952,336.78. The trade was a 3.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel James R. Kasinger sold 3,182 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $46.78, for a total transaction of $148,853.96. Following the completion of the sale, the general counsel directly owned 94,308 shares of the company's stock, valued at approximately $4,411,728.24. This trade represents a 3.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 141,828 shares of company stock valued at $7,744,397. 4.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on CRSP shares. Truist Financial raised CRISPR Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CRISPR Therapeutics in a research note on Wednesday, January 21st. TD Cowen upped their target price on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Friday, February 13th. Bank of America reduced their target price on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a "buy" rating for the company in a research report on Thursday, January 22nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $110.00 price target (up from $105.00) on shares of CRISPR Therapeutics in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $64.53.

CRISPR Therapeutics Stock Performance

Shares of CRISPR Therapeutics stock opened at $57.99 on Friday. The business's 50 day moving average price is $52.10 and its 200 day moving average price is $55.97. The company has a market cap of $5.57 billion, a price-to-earnings ratio of -8.89 and a beta of 1.80. CRISPR Therapeutics AG has a one year low of $33.03 and a one year high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its earnings results on Friday, February 13th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.15) by ($0.22). CRISPR Therapeutics had a negative net margin of 16,569.77% and a negative return on equity of 26.31%. The company had revenue of $0.86 million during the quarter, compared to analysts' expectations of $4.72 million. During the same quarter in the previous year, the company earned ($1.01) earnings per share. The firm's quarterly revenue was down 97.8% compared to the same quarter last year. On average, analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

CRISPR Therapeutics Profile

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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