CRISPR Therapeutics AG (NASDAQ:CRSP) Stake Increased by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC grew its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 4.3% in the third quarter, Holdings Channel.com reports. The firm owned 119,586 shares of the company’s stock after purchasing an additional 4,913 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in CRISPR Therapeutics were worth $5,618,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Cetera Investment Advisers raised its holdings in shares of CRISPR Therapeutics by 451.3% during the first quarter. Cetera Investment Advisers now owns 34,100 shares of the company’s stock worth $2,324,000 after acquiring an additional 27,915 shares in the last quarter. CWM LLC raised its holdings in shares of CRISPR Therapeutics by 11,871.1% during the second quarter. CWM LLC now owns 22,386 shares of the company’s stock worth $1,209,000 after acquiring an additional 22,199 shares in the last quarter. Capital Advisors Inc. OK raised its holdings in shares of CRISPR Therapeutics by 8.1% during the third quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock worth $14,122,000 after acquiring an additional 22,583 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in CRISPR Therapeutics during the second quarter worth $2,375,000. Finally, International Assets Investment Management LLC acquired a new position in CRISPR Therapeutics during the third quarter worth $1,825,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Stock Down 7.1 %

Shares of NASDAQ CRSP opened at $51.24 on Wednesday. CRISPR Therapeutics AG has a 52 week low of $43.42 and a 52 week high of $91.10. The business has a 50-day simple moving average of $48.39 and a two-hundred day simple moving average of $51.54. The company has a market cap of $4.37 billion, a P/E ratio of -18.11 and a beta of 1.62.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. The firm had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. During the same quarter last year, the company posted ($1.41) EPS. Equities research analysts anticipate that CRISPR Therapeutics AG will post -5.14 EPS for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 30,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.62, for a total value of $1,668,600.00. Following the transaction, the chief executive officer now directly owns 196,540 shares of the company’s stock, valued at $10,931,554.80. The trade was a 13.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 1,089 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the transaction, the general counsel now directly owns 62,597 shares in the company, valued at $2,896,989.16. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,382 shares of company stock worth $1,917,679 in the last quarter. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CRSP has been the topic of several analyst reports. StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, August 8th. Barclays decreased their target price on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Stifel Nicolaus decreased their target price on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Finally, Truist Financial decreased their target price on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics presently has an average rating of “Hold” and an average price target of $74.94.

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.