Shah Wealth Advisors LLC Buys New Position in CRISPR Therapeutics AG $CRSP

Shah Wealth Advisors LLC purchased a new position in CRISPR Therapeutics AG (NASDAQ:CRSP) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 69,060 shares of the company’s stock, valued at approximately $3,767,000. CRISPR Therapeutics makes up approximately 0.9% of Shah Wealth Advisors LLC’s holdings, making the stock its 23rd largest holding. Shah Wealth Advisors LLC owned approximately 0.07% of CRISPR Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Royal Bank of Canada grew its position in CRISPR Therapeutics by 28.2% in the first quarter. Royal Bank of Canada now owns 142,696 shares of the company’s stock worth $4,856,000 after acquiring an additional 31,392 shares in the last quarter. AQR Capital Management LLC purchased a new stake in CRISPR Therapeutics during the first quarter valued at about $861,000. Woodline Partners LP lifted its stake in CRISPR Therapeutics by 34.3% during the first quarter. Woodline Partners LP now owns 136,483 shares of the company’s stock worth $4,645,000 after purchasing an additional 34,883 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of CRISPR Therapeutics in the 2nd quarter worth about $237,000. Finally, Invesco Ltd. boosted its holdings in shares of CRISPR Therapeutics by 138.4% in the 2nd quarter. Invesco Ltd. now owns 66,648 shares of the company’s stock worth $3,242,000 after purchasing an additional 38,691 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 target price on shares of CRISPR Therapeutics in a research report on Thursday, August 6th. Citizens Jmp reiterated a “market outperform” rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research report on Monday, August 31st. Sanford C. Bernstein boosted their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of CRISPR Therapeutics in a research note on Monday, August 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.06.

CRISPR Therapeutics Stock Performance

Shares of CRSP stock opened at $55.79 on Friday. The company has a market capitalization of $5.39 billion, a P/E ratio of -11.72 and a beta of 1.76. CRISPR Therapeutics AG has a fifty-two week low of $44.12 and a fifty-two week high of $78.48. The company has a debt-to-equity ratio of 0.34, a quick ratio of 17.85 and a current ratio of 17.85. The stock has a 50 day moving average price of $53.86 and a two-hundred day moving average price of $52.95.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, June 30th. The company reported ($0.94) earnings per share (EPS) for the quarter. CRISPR Therapeutics had a negative return on equity of 24.39% and a negative net margin of 3,368.72%.The firm had revenue of $10.18 million during the quarter. Analysts expect that CRISPR Therapeutics AG will post -4.47 earnings per share 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.