Envestnet Asset Management Inc. Lowers Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Envestnet Asset Management Inc. trimmed its holdings in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,646 shares of the company’s stock after selling 671 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CRISPR Therapeutics were worth $2,195,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC purchased a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at approximately $776,000. Oppenheimer & Co. Inc. raised its position in CRISPR Therapeutics by 20.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,435 shares of the company’s stock valued at $1,655,000 after purchasing an additional 4,437 shares during the period. 1832 Asset Management L.P. purchased a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $1,127,000. Seven Eight Capital LP lifted its stake in CRISPR Therapeutics by 82.7% during the fourth quarter. Seven Eight Capital LP now owns 29,556 shares of the company’s stock worth $1,850,000 after purchasing an additional 13,377 shares in the last quarter. Finally, Soviero Asset Management LP acquired a new stake in shares of CRISPR Therapeutics in the fourth quarter valued at $2,754,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRSP has been the topic of several research reports. Guggenheim reissued a “neutral” rating on shares of CRISPR Therapeutics in a research note on Friday, June 28th. StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a research report on Friday, August 16th. Royal Bank of Canada dropped their price objective on shares of CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating for the company in a report on Friday. Rodman & Renshaw assumed coverage on shares of CRISPR Therapeutics in a research note on Friday, August 2nd. They set a “buy” rating and a $90.00 target price on the stock. Finally, Chardan Capital decreased their price target on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.19.

CRISPR Therapeutics Price Performance

Shares of NASDAQ:CRSP opened at $45.37 on Friday. CRISPR Therapeutics AG has a 12 month low of $37.55 and a 12 month high of $91.10. The firm has a market capitalization of $3.85 billion, a P/E ratio of -16.68 and a beta of 1.68. The company’s fifty day moving average price is $48.17 and its 200 day moving average price is $54.95.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Monday, August 5th. The company reported ($1.49) 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 analyst estimates of $12.31 million. The business’s quarterly revenue was down 99.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.98) EPS. On average, sell-side analysts anticipate that CRISPR Therapeutics AG will post -5.6 EPS for the current 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.