State Street Corp Increases Stock Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

State Street Corp lifted its holdings in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 25.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,992,988 shares of the company’s stock after purchasing an additional 599,304 shares during the period. State Street Corp’s holdings in CRISPR Therapeutics were worth $140,611,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Baker BROS. Advisors LP lifted its holdings in CRISPR Therapeutics by 743.1% in the 3rd quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company’s stock valued at $39,608,000 after purchasing an additional 743,075 shares in the last quarter. Farallon Capital Management LLC purchased a new position in shares of CRISPR Therapeutics during the second quarter valued at approximately $28,625,000. Marshall Wace LLP acquired a new stake in CRISPR Therapeutics during the second quarter worth approximately $10,078,000. Private Advisor Group LLC raised its holdings in CRISPR Therapeutics by 472.9% in the 2nd quarter. Private Advisor Group LLC now owns 77,627 shares of the company’s stock valued at $4,193,000 after acquiring an additional 64,076 shares during the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new position in shares of CRISPR Therapeutics during the 2nd quarter worth $2,375,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the transaction, the general counsel now directly owns 62,597 shares in the company, valued at approximately $2,896,989.16. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 30,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.62, for a total transaction of $1,668,600.00. Following the sale, the chief executive officer now directly owns 196,540 shares of the company’s stock, valued at approximately $10,931,554.80. This represents a 13.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,382 shares of company stock valued at $2,744,179 in the last quarter. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRSP. Barclays lowered their price objective on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $53.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Finally, Chardan Capital reissued a “buy” rating and set a $94.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.93.

CRISPR Therapeutics Stock Down 3.6 %

Shares of NASDAQ CRSP opened at $43.78 on Friday. The firm has a market cap of $3.74 billion, a PE ratio of -15.47 and a beta of 1.62. The business has a 50 day moving average price of $48.79 and a two-hundred day moving average price of $51.19. CRISPR Therapeutics AG has a fifty-two week low of $42.86 and a fifty-two week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its 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. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. The business had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. During the same quarter in the prior year, the business posted ($1.41) EPS. On average, analysts anticipate that CRISPR Therapeutics AG will post -5.13 earnings per share for the current year.

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.