Freedom Investment Management Inc. Lowers Stock Position in CRISPR Therapeutics AG $CRSP

Freedom Investment Management Inc. lessened its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,000 shares of the company’s stock after selling 506 shares during the quarter. Freedom Investment Management Inc.’s holdings in CRISPR Therapeutics were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SVB Wealth LLC acquired a new stake in shares of CRISPR Therapeutics during the 1st quarter valued at approximately $25,000. Costello Asset Management INC acquired a new stake in shares of CRISPR Therapeutics during the 1st quarter valued at approximately $27,000. Quantbot Technologies LP lifted its position 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 acquiring an additional 978 shares during the period. IFP Advisors Inc lifted its position in shares of CRISPR Therapeutics by 24.6% during the 2nd quarter. IFP Advisors Inc now owns 916 shares of the company’s stock valued at $45,000 after acquiring an additional 181 shares during the period. Finally, GF Fund Management CO. LTD. lifted its position in shares of CRISPR Therapeutics by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,186 shares of the company’s stock valued at $74,000 after acquiring an additional 394 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 50,895 shares of the business’s 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 completion of the transaction, the chief executive officer directly owned 254,201 shares in the company, valued at approximately $17,262,789.91. The trade was a 16.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel James R. Kasinger sold 1,076 shares of the business’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total value of $71,661.60. Following the completion of the transaction, the general counsel owned 83,402 shares of the company’s stock, valued at $5,554,573.20. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,213 shares of company stock valued at $3,810,458 over the last quarter. 4.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CRSP has been the subject of a number of research reports. Wells Fargo & Company set a $75.00 price target on shares of CRISPR Therapeutics in a research report on Monday, October 13th. Zacks Research upgraded CRISPR Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Friday. Bank of America lifted their price objective on CRISPR Therapeutics from $78.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Royal Bank Of Canada lifted their price objective on CRISPR Therapeutics from $38.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 5th. Ten analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.59.

CRISPR Therapeutics Stock Performance

Shares of CRSP opened at $67.61 on Friday. The stock has a fifty day moving average of $61.62 and a two-hundred day moving average of $51.41. The company has a market capitalization of $6.15 billion, a PE ratio of -12.45 and a beta of 1.84. CRISPR Therapeutics AG has a fifty-two week low of $30.04 and a fifty-two week high of $78.48.

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

CRISPR Therapeutics 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.