Geode Capital Management LLC Grows Position in CRISPR Therapeutics AG $CRSP

Geode Capital Management LLC grew its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,249,223 shares of the company’s stock after purchasing an additional 108,053 shares during the quarter. Geode Capital Management LLC’s holdings in CRISPR Therapeutics were worth $117,971,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Global Assets Advisory LLC bought a new position in shares of CRISPR Therapeutics during the fourth quarter valued at approximately $228,000. Beck Bode LLC bought a new position in shares of CRISPR Therapeutics during the fourth quarter valued at approximately $5,181,000. Axxcess Wealth Management LLC raised its holdings in shares of CRISPR Therapeutics by 6.2% during the fourth quarter. Axxcess Wealth Management LLC now owns 13,022 shares of the company’s stock valued at $683,000 after acquiring an additional 764 shares in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in shares of CRISPR Therapeutics during the fourth quarter valued at approximately $918,000. Finally, Global Retirement Partners LLC raised its holdings in shares of CRISPR Therapeutics by 58.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,545 shares of the company’s stock valued at $81,000 after acquiring an additional 567 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRSP. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Monday, April 20th. TD Cowen increased their price objective on CRISPR Therapeutics from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Wall Street Zen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Sanford C. Bernstein increased their price objective on CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, Evercore reiterated an “outperform” rating and issued a $76.00 price objective on shares of CRISPR Therapeutics in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, CRISPR Therapeutics has an average rating of “Moderate Buy” and an average price target of $65.47.

Insider Activity

In other news, CEO Samarth Kulkarni sold 10,020 shares of CRISPR Therapeutics stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $46.78, for a total transaction of $468,735.60. Following the transaction, the chief executive officer directly owned 255,501 shares of the company’s stock, valued at $11,952,336.78. The trade was a 3.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Naimish Patel sold 3,786 shares of CRISPR Therapeutics stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $55.62, for a total value of $210,577.32. Following the transaction, the insider directly owned 19,357 shares in the company, valued at approximately $1,076,636.34. The trade was a 16.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 46,535 shares of company stock valued at $2,311,300 in the last quarter. 4.30% of the stock is currently owned by insiders.

CRISPR Therapeutics Trading Down 9.0%

CRISPR Therapeutics stock opened at $51.84 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 17.97 and a quick ratio of 17.96. CRISPR Therapeutics AG has a one year low of $39.58 and a one year high of $78.48. The stock has a market capitalization of $5.00 billion, a PE ratio of -8.33 and a beta of 1.74. The business’s fifty day moving average is $52.03 and its 200 day moving average is $53.14.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share (EPS) for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. The firm had revenue of $1.46 million for the quarter. On average, sell-side analysts predict that CRISPR Therapeutics AG will post -4.92 EPS for the current 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.