Intech Investment Management LLC Sells 16,079 Shares of CRISPR Therapeutics AG $CRSP

Intech Investment Management LLC lessened its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 41.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,904 shares of the company’s stock after selling 16,079 shares during the period. Intech Investment Management LLC’s holdings in CRISPR Therapeutics were worth $1,484,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp bought a new stake in shares of CRISPR Therapeutics in the 2nd quarter valued at approximately $33,000. Thompson Investment Management Inc. acquired a new position in shares of CRISPR Therapeutics in the 3rd quarter worth approximately $33,000. Optiver Holding B.V. lifted its position in shares of CRISPR Therapeutics by 71.4% during the 3rd quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock worth $33,000 after buying an additional 210 shares during the period. Strategic Wealth Investment Group LLC acquired a new stake in CRISPR Therapeutics in the 2nd quarter valued at $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 valued at $42,000 after buying an additional 500 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on CRSP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Wednesday, January 21st. Morgan Stanley restated an “underweight” rating and issued a $33.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, February 17th. Bank of America lowered their target price on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Robert W. Baird cut their price target on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Finally, Needham & Company LLC boosted their price target on shares of CRISPR Therapeutics from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, CRISPR Therapeutics has an average rating of “Hold” and a consensus price target of $64.24.

CRISPR Therapeutics Stock Performance

CRISPR Therapeutics stock opened at $56.50 on Friday. The firm has a market cap of $5.42 billion, a P/E ratio of -8.67 and a beta of 1.72. The business’s fifty day moving average is $54.23 and its two-hundred day moving average is $57.30. CRISPR Therapeutics AG has a 52 week low of $30.04 and a 52 week high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Thursday, February 12th. The company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $0.86 million during the quarter, compared to analyst estimates of $4.72 million. During the same quarter last year, the business posted ($1.01) earnings per share. The business’s quarterly revenue was down 97.8% compared to the same quarter last year. On average, equities research analysts predict that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 2,112 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $52.58, for a total transaction of $111,048.96. Following the sale, the general counsel owned 85,115 shares of the company’s stock, valued at $4,475,346.70. This represents a 2.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 6,967 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $52.58, for a total transaction of $366,324.86. Following the completion of the sale, the chief executive officer owned 226,106 shares of the company’s stock, valued at $11,888,653.48. The trade was a 2.99% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 99,079 shares of company stock worth $5,643,674. Insiders own 4.30% of the company’s stock.

CRISPR Therapeutics Company 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.