CRISPR Therapeutics AG $CRSP Shares Purchased by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd boosted its position in CRISPR Therapeutics AG (NASDAQ:CRSP) by 1,923.1% in the 2nd quarter, Holdings Channel reports. The firm owned 1,841 shares of the company’s stock after acquiring an additional 1,750 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in CRISPR Therapeutics were worth $90,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. ARK Investment Management LLC raised its stake in CRISPR Therapeutics by 13.3% in the 1st quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company’s stock valued at $345,929,000 after purchasing an additional 1,192,336 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in CRISPR Therapeutics by 182.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company’s stock valued at $66,452,000 after purchasing an additional 1,262,560 shares during the last quarter. Vanguard Group Inc. raised its stake in CRISPR Therapeutics by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company’s stock valued at $60,223,000 after purchasing an additional 33,711 shares during the last quarter. Orbis Allan Gray Ltd raised its stake in CRISPR Therapeutics by 5.9% in the 1st quarter. Orbis Allan Gray Ltd now owns 1,562,932 shares of the company’s stock valued at $53,187,000 after purchasing an additional 86,813 shares during the last quarter. Finally, Millennium Management LLC raised its stake in CRISPR Therapeutics by 6,769.1% in the 1st quarter. Millennium Management LLC now owns 583,733 shares of the company’s stock valued at $19,864,000 after purchasing an additional 575,235 shares during the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on CRSP. JMP Securities reissued a “market outperform” rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a research note on Friday, June 27th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, September 23rd. Wells Fargo & Company set a $75.00 target price on CRISPR Therapeutics in a research note on Monday, October 13th. Royal Bank Of Canada raised their target price on CRISPR Therapeutics from $38.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics currently has an average rating of “Hold” and a consensus target price of $72.59.

CRISPR Therapeutics Stock Up 0.6%

Shares of CRSP opened at $67.61 on Friday. CRISPR Therapeutics AG has a 52-week low of $30.04 and a 52-week high of $78.48. The company has a market capitalization of $6.15 billion, a PE ratio of -12.45 and a beta of 1.84. The stock has a fifty day simple moving average of $61.62 and a two-hundred day simple moving average of $51.27.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Monday, August 4th. The company reported ($1.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.18. The business had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $6.44 million. CRISPR Therapeutics had a negative return on equity of 20.05% and a negative net margin of 1,229.43%.The company’s revenue was up 72.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.49) EPS. As a group, equities analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel James R. Kasinger sold 1,076 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total transaction of $71,661.60. Following the completion of the transaction, the general counsel directly owned 83,402 shares in the company, valued at approximately $5,554,573.20. This represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 50,895 shares of the stock in a transaction on Friday, October 17th. The stock was sold at an average price of $67.91, for a total value of $3,456,279.45. Following the transaction, the chief executive officer owned 254,201 shares of the company’s stock, valued at approximately $17,262,789.91. This represents a 16.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,213 shares of company stock valued at $3,810,458. Company insiders own 4.30% of the company’s stock.

CRISPR Therapeutics Company Profile

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.