Bank of New York Mellon Corp Grows Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Bank of New York Mellon Corp boosted its position in CRISPR Therapeutics AG (NASDAQ:CRSP) by 2.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 76,569 shares of the company’s stock after acquiring an additional 1,553 shares during the period. Bank of New York Mellon Corp’s holdings in CRISPR Therapeutics were worth $3,014,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC purchased a new stake in shares of CRISPR Therapeutics during the 4th quarter valued at about $39,000. Western Pacific Wealth Management LP grew its stake in shares of CRISPR Therapeutics by 100.0% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after purchasing an additional 500 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of CRISPR Therapeutics during the 3rd quarter valued at $40,000. Darwin Wealth Management LLC bought a new stake in CRISPR Therapeutics during the third quarter worth approximately $43,000. Finally, Spire Wealth Management raised its holdings in shares of CRISPR Therapeutics by 303.7% during the fourth quarter. Spire Wealth Management now owns 1,970 shares of the company’s stock valued at $78,000 after acquiring an additional 1,482 shares during the period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Price Performance

Shares of CRISPR Therapeutics stock opened at $41.17 on Friday. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -9.42 and a beta of 1.76. The business has a fifty day simple moving average of $43.06 and a two-hundred day simple moving average of $45.41. CRISPR Therapeutics AG has a 1 year low of $36.52 and a 1 year high of $75.91.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. As a group, equities analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRSP has been the topic of several research analyst reports. Royal Bank of Canada lowered their price target on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 12th. The Goldman Sachs Group dropped their target price on CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Morgan Stanley upped their price target on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, February 14th. TD Cowen raised shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 target price on the stock in a research note on Wednesday, February 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.11.

Insider Buying and Selling

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 2,850 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $120,897.00. Following the sale, the general counsel now owns 77,530 shares of the company’s stock, valued at approximately $3,288,822.60. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 9,973 shares of CRISPR Therapeutics stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $423,054.66. Following the completion of the sale, the chief executive officer now owns 180,890 shares of the company’s stock, valued at $7,673,353.80. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,381 shares of company stock worth $1,608,243 in the last three months. 4.10% of the stock is owned by corporate insiders.

CRISPR Therapeutics Company 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.