Granite Bay Wealth Management LLC Makes New Investment in CRISPR Therapeutics AG (NASDAQ:CRSP)

Granite Bay Wealth Management LLC purchased a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 41,096 shares of the company’s stock, valued at approximately $2,375,000.

Several other large investors have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. boosted its position in shares of CRISPR Therapeutics by 66.7% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares in the last quarter. SFE Investment Counsel boosted its position in CRISPR Therapeutics by 3.6% in the second quarter. SFE Investment Counsel now owns 5,846 shares of the company’s stock valued at $316,000 after buying an additional 203 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in CRISPR Therapeutics by 4.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,606 shares of the company’s stock valued at $249,000 after buying an additional 211 shares in the last quarter. Orion Capital Management LLC boosted its position in CRISPR Therapeutics by 44.0% in the first quarter. Orion Capital Management LLC now owns 720 shares of the company’s stock valued at $49,000 after buying an additional 220 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in CRISPR Therapeutics by 35.0% in the second quarter. National Bank of Canada FI now owns 848 shares of the company’s stock valued at $46,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

CRISPR Therapeutics Stock Down 0.7 %

Shares of NASDAQ CRSP opened at $46.98 on Tuesday. CRISPR Therapeutics AG has a twelve month low of $37.55 and a twelve month high of $91.10. The firm has a fifty day simple moving average of $49.28 and a 200 day simple moving average of $55.76. The company has a market capitalization of $3.99 billion, a PE ratio of -17.27 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Monday, August 5th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The company had revenue of $0.52 million for the quarter, compared to analyst estimates of $12.31 million. During the same period in the previous year, the company earned ($0.98) earnings per share. The firm’s revenue was down 99.3% compared to the same quarter last year. As a group, equities analysts expect that CRISPR Therapeutics AG will post -5.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research report on Friday, August 16th. Needham & Company LLC cut their target price on shares of CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Rodman & Renshaw assumed coverage on shares of CRISPR Therapeutics in a research report on Friday, August 2nd. They issued a “buy” rating and a $90.00 target price on the stock. Stifel Nicolaus cut their target price on shares of 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, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of CRISPR Therapeutics in a research note on Thursday, August 8th. Three equities 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, CRISPR Therapeutics has an average rating of “Hold” and an average price target 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.