Hedges Asset Management LLC Grows Stock Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Hedges Asset Management LLC boosted its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,350 shares of the company’s stock after purchasing an additional 1,188 shares during the quarter. Hedges Asset Management LLC’s holdings in CRISPR Therapeutics were worth $958,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Baker BROS. Advisors LP raised its holdings in CRISPR Therapeutics by 743.1% in the third quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company’s stock valued at $39,608,000 after acquiring an additional 743,075 shares in the last quarter. State Street Corp raised its holdings in shares of CRISPR Therapeutics by 25.0% in the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock valued at $140,611,000 after purchasing an additional 599,304 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of CRISPR Therapeutics during the 2nd quarter worth $10,078,000. Granite Bay Wealth Management LLC acquired a new position in shares of CRISPR Therapeutics during the second quarter worth $2,375,000. Finally, International Assets Investment Management LLC purchased a new position in CRISPR Therapeutics in the third quarter valued at $1,825,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays decreased their price target on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Needham & Company LLC restated a “buy” rating and issued a $84.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, January 14th. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research note on Monday, December 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $53.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $86.00 target price on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $78.38.

CRISPR Therapeutics Stock Performance

CRSP stock opened at $44.23 on Friday. CRISPR Therapeutics AG has a one year low of $36.52 and a one year high of $91.10. The company has a fifty day moving average of $44.43 and a 200-day moving average of $47.88. The stock has a market capitalization of $3.78 billion, a PE ratio of -15.63 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The business had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. During the same quarter last year, the firm posted ($1.41) EPS. Equities analysts forecast that CRISPR Therapeutics AG will post -5.13 earnings per share for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $55.10, for a total transaction of $826,500.00. Following the completion of the transaction, the chief executive officer now directly owns 181,540 shares of the company’s stock, valued at approximately $10,002,854. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 4.10% of the company’s stock.

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.