35,100 Shares in CRISPR Therapeutics AG $CRSP Acquired by Canal Insurance CO

Canal Insurance CO purchased a new position in CRISPR Therapeutics AG (NASDAQ:CRSP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 35,100 shares of the company’s stock, valued at approximately $1,670,000.

Other institutional investors also recently modified their holdings of the company. Mcguire Capital Advisors Inc. bought a new stake in shares of CRISPR Therapeutics during the 4th quarter worth $25,000. Ramirez Asset Management Inc. acquired a new stake in shares of CRISPR Therapeutics during the fourth quarter worth $26,000. Rothschild Investment LLC raised its position in shares of CRISPR Therapeutics by 836.7% during the fourth quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock worth $29,000 after purchasing an additional 502 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of CRISPR Therapeutics by 196.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company’s stock valued at $30,000 after purchasing an additional 382 shares during the last quarter. Finally, Strategic Advocates LLC purchased a new stake in shares of CRISPR Therapeutics during the third quarter valued at $34,000. Institutional investors own 69.20% of the company’s stock.

Insider Transactions at CRISPR Therapeutics

In related news, insider Naimish Patel sold 3,786 shares of CRISPR Therapeutics stock in a transaction on Friday, May 29th. The stock was sold at an average price of $55.62, for a total transaction of $210,577.32. Following the completion of the sale, the insider owned 19,357 shares of the company’s stock, valued at approximately $1,076,636.34. This trade represents a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 4.10% of the company’s stock.

CRISPR Therapeutics Trading Down 5.1%

Shares of NASDAQ:CRSP opened at $50.63 on Tuesday. The firm has a fifty day moving average of $53.43 and a two-hundred day moving average of $53.09. The firm has a market capitalization of $4.88 billion, a P/E ratio of -8.14 and a beta of 1.71. CRISPR Therapeutics AG has a 12-month low of $44.12 and a 12-month high of $78.48. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($1.28) 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 company had revenue of $1.46 million for the quarter. On average, equities analysts expect that CRISPR Therapeutics AG will post -4.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRSP has been the topic of a number of analyst reports. UBS Group set a $80.00 price target on CRISPR Therapeutics in a research note on Friday, June 12th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday, July 8th. Citigroup reiterated a “market outperform” rating on shares of CRISPR Therapeutics in a report on Wednesday, May 27th. Sanford C. Bernstein raised their target price on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.78.

About CRISPR Therapeutics

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.