Police & Firemen s Retirement System of New Jersey Makes New $911,000 Investment in CRISPR Therapeutics AG $CRSP

Police & Firemen s Retirement System of New Jersey acquired a new position in CRISPR Therapeutics AG (NASDAQ:CRSP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,722 shares of the company’s stock, valued at approximately $911,000.

Other hedge funds have also made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new stake in CRISPR Therapeutics during the 2nd quarter worth $33,000. SVB Wealth LLC acquired a new position in shares of CRISPR Therapeutics during the first quarter worth about $25,000. Costello Asset Management INC purchased a new stake in shares of CRISPR Therapeutics in the first quarter worth about $27,000. IFP Advisors Inc grew its stake in shares of CRISPR Therapeutics by 24.6% in the second quarter. IFP Advisors Inc now owns 916 shares of the company’s stock valued at $45,000 after buying an additional 181 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of CRISPR Therapeutics by 272.4% during the 1st quarter. Quantbot Technologies LP now owns 1,337 shares of the company’s stock valued at $45,000 after buying an additional 978 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Trading Up 1.9%

Shares of NASDAQ:CRSP opened at $50.23 on Friday. The firm has a market cap of $4.79 billion, a PE ratio of -8.99 and a beta of 1.89. The company has a fifty day simple moving average of $62.68 and a 200 day simple moving average of $54.15. CRISPR Therapeutics AG has a 12-month low of $30.04 and a 12-month high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.17) earnings per share for the quarter, topping the consensus estimate of ($1.32) by $0.15. The company had revenue of $0.89 million during the quarter, compared to analyst estimates of $8.74 million. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. As a group, equities research analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 50,895 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $67.91, for a total transaction of $3,456,279.45. Following the sale, the chief executive officer directly owned 254,201 shares of the company’s stock, valued at approximately $17,262,789.91. This represents a 16.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel James R. Kasinger sold 1,076 shares of the firm’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total value of $71,661.60. Following the transaction, the general counsel owned 83,402 shares in the company, valued at $5,554,573.20. This trade represents a 1.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 56,213 shares of company stock valued at $3,810,458. 4.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, September 23rd. Royal Bank Of Canada upped their target price on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. started coverage on shares of CRISPR Therapeutics in a report on Thursday, September 18th. They set an “overweight” rating and a $70.00 price target for the company. Bank of America boosted their price objective on shares of CRISPR Therapeutics from $78.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Wedbush lowered their target price on CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.84.

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.