Bank of Montreal Can increased its stake in CRISPR Therapeutics AG (NASDAQ:CRSP – Get Rating) by 2,322.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 119,955 shares of the company’s stock after acquiring an additional 115,003 shares during the quarter. Bank of Montreal Can’s holdings in CRISPR Therapeutics were worth $7,745,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in CRISPR Therapeutics in the 1st quarter worth $289,982,000. Nikko Asset Management Americas Inc. increased its holdings in CRISPR Therapeutics by 7.0% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,619,747 shares of the company’s stock worth $291,044,000 after acquiring an additional 300,276 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in CRISPR Therapeutics by 42.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,316,123 shares of the company’s stock worth $99,736,000 after acquiring an additional 390,209 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in CRISPR Therapeutics by 19.8% in the 4th quarter. JPMorgan Chase & Co. now owns 771,899 shares of the company’s stock worth $58,495,000 after acquiring an additional 127,313 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in CRISPR Therapeutics in the 4th quarter worth $43,865,000. Hedge funds and other institutional investors own 70.56% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Citigroup boosted their price target on shares of CRISPR Therapeutics from $53.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Piper Sandler upped their target price on shares of CRISPR Therapeutics from $115.00 to $121.00 and gave the stock an “overweight” rating in a report on Wednesday, June 22nd. Chardan Capital dropped their target price on shares of CRISPR Therapeutics from $164.00 to $154.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. Barclays lowered shares of CRISPR Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $99.00 to $88.00 in a report on Tuesday, August 9th. Finally, TheStreet lowered shares of CRISPR Therapeutics from a “c” rating to a “d” rating in a report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $112.33.
Insider Buying and Selling at CRISPR Therapeutics
In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $75.91, for a total value of $1,897,750.00. Following the transaction, the chief executive officer now owns 290,279 shares of the company’s stock, valued at $22,035,078.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 75,000 shares of company stock valued at $5,108,500 over the last 90 days. 5.30% of the stock is owned by insiders.
CRISPR Therapeutics Price Performance
NASDAQ CRSP opened at $65.01 on Thursday. The firm’s 50-day moving average is $73.66 and its two-hundred day moving average is $64.54. CRISPR Therapeutics AG has a 12 month low of $42.51 and a 12 month high of $124.79. The stock has a market capitalization of $5.07 billion, a P/E ratio of -7.90 and a beta of 1.97.
CRISPR Therapeutics (NASDAQ:CRSP – Get Rating) last posted its earnings results on Monday, August 8th. The company reported ($2.40) EPS for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.17). CRISPR Therapeutics had a negative net margin of 4,274.02% and a negative return on equity of 27.40%. The company had revenue of $0.20 million during the quarter, compared to analyst estimates of $2.20 million. During the same period in the previous year, the company earned $9.44 EPS. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. As a group, analysts anticipate that CRISPR Therapeutics AG will post -9.23 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.
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