ARK Investment Management LLC Raises Stake in CRISPR Therapeutics AG (NASDAQ:CRSP)

ARK Investment Management LLC raised its stake in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,536,104 shares of the company's stock after purchasing an additional 1,372,986 shares during the period. CRISPR Therapeutics makes up approximately 3.2% of ARK Investment Management LLC's holdings, making the stock its 9th biggest position. ARK Investment Management LLC owned 10.75% of CRISPR Therapeutics worth $534,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its position in CRISPR Therapeutics by 80.7% in the third quarter. CWM LLC now owns 582 shares of the company's stock worth $26,000 after purchasing an additional 260 shares during the period. Tradewinds Capital Management LLC boosted its position in shares of CRISPR Therapeutics by 545.5% during the 3rd quarter. Tradewinds Capital Management LLC now owns 710 shares of the company's stock valued at $32,000 after acquiring an additional 600 shares in the last quarter. Headlands Technologies LLC bought a new stake in CRISPR Therapeutics in the third quarter valued at about $34,000. Pinnacle Holdings LLC acquired a new position in CRISPR Therapeutics in the first quarter worth about $48,000. Finally, BluePath Capital Management LLC acquired a new stake in CRISPR Therapeutics during the third quarter valued at approximately $37,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Samarth Kulkarni sold 50,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $60.51, for a total value of $3,025,500.00. Following the sale, the chief executive officer now owns 187,377 shares of the company's stock, valued at approximately $11,338,182.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Samarth Kulkarni sold 50,000 shares of the firm's stock in a transaction on Monday, January 29th. The shares were sold at an average price of $60.51, for a total value of $3,025,500.00. Following the completion of the transaction, the chief executive officer now owns 187,377 shares of the company's stock, valued at $11,338,182.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel James R. Kasinger sold 2,801 shares of the business's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $78.26, for a total transaction of $219,206.26. Following the sale, the general counsel now directly owns 60,070 shares in the company, valued at $4,701,078.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,410 shares of company stock valued at $9,234,677. Company insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho lifted their price objective on CRISPR Therapeutics from $82.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Truist Financial reissued a "buy" rating on shares of CRISPR Therapeutics in a report on Friday, December 8th. Wolfe Research began coverage on CRISPR Therapeutics in a report on Thursday, February 15th. They set a "peer perform" rating on the stock. Morgan Stanley lifted their target price on CRISPR Therapeutics from $46.00 to $48.00 and gave the company an "underweight" rating in a research note on Monday, February 26th. Finally, TD Cowen cut CRISPR Therapeutics from a "market perform" rating to an "underperform" rating and set a $30.00 price target on the stock. in a report on Monday, December 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $74.75.

CRISPR Therapeutics Stock Performance

NASDAQ:CRSP traded down $2.00 on Thursday, reaching $68.16. The company's stock had a trading volume of 1,600,516 shares, compared to its average volume of 1,966,590. CRISPR Therapeutics AG has a 1-year low of $37.55 and a 1-year high of $91.10. The business's 50-day moving average price is $73.90 and its two-hundred day moving average price is $61.75. The firm has a market cap of $5.47 billion, a PE ratio of -34.78 and a beta of 1.79.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.95. The business had revenue of $201.20 million during the quarter, compared to analysts' expectations of $148.72 million. CRISPR Therapeutics had a negative return on equity of 8.09% and a negative net margin of 240.84%. CRISPR Therapeutics's revenue for the quarter was up 3253.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.41) EPS. As a group, sell-side analysts expect that CRISPR Therapeutics AG will post -6.24 EPS for the current year.

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.