Armistice Capital LLC Purchases 6,357 Shares of CRISPR Therapeutics AG (NASDAQ:CRSP)

Armistice Capital LLC increased its position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198,357 shares of the company’s stock after purchasing an additional 6,357 shares during the quarter. Armistice Capital LLC’s holdings in CRISPR Therapeutics were worth $10,713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CRSP. Norges Bank bought a new stake in CRISPR Therapeutics during the fourth quarter worth about $38,661,000. Cambridge Investment Research Advisors Inc. boosted its stake in CRISPR Therapeutics by 107.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 47,929 shares of the company’s stock valued at $3,000,000 after buying an additional 24,839 shares in the last quarter. Advisory Services Network LLC boosted its stake in CRISPR Therapeutics by 27.9% in the fourth quarter. Advisory Services Network LLC now owns 17,674 shares of the company’s stock valued at $1,106,000 after buying an additional 3,854 shares in the last quarter. Evoke Wealth LLC acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at about $207,000. Finally, Manhattan West Asset Management LLC acquired a new stake in CRISPR Therapeutics in the fourth quarter valued at about $215,000. Institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Price Performance

Shares of CRSP opened at $45.92 on Thursday. CRISPR Therapeutics AG has a 1 year low of $37.55 and a 1 year high of $91.10. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -16.88 and a beta of 1.68. The business has a 50-day moving average of $49.62 and a 200-day moving average of $56.30.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Monday, August 5th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The firm had revenue of $0.52 million during the quarter, compared to the consensus estimate of $12.31 million. During the same period last year, the business earned ($0.98) EPS. CRISPR Therapeutics’s revenue was down 99.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that CRISPR Therapeutics AG will post -5.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank of Canada reduced their price objective on CRISPR Therapeutics from $66.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 6th. Stifel Nicolaus reduced their price objective on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Rodman & Renshaw assumed coverage on CRISPR Therapeutics in a research note on Friday, August 2nd. They issued a “buy” rating and a $90.00 price objective on the stock. Truist Financial reduced their price objective on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Needham & Company LLC reduced their price objective on CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $75.63.

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.