Bank of America Corp DE Raises Stock Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Bank of America Corp DE boosted its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 12.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,211,509 shares of the company’s stock after buying an additional 129,746 shares during the period. Bank of America Corp DE’s holdings in CRISPR Therapeutics were worth $47,685,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CRSP. Western Pacific Wealth Management LP increased its stake in CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after buying an additional 500 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of CRISPR Therapeutics by 303.7% during the 4th quarter. Spire Wealth Management now owns 1,970 shares of the company’s stock valued at $78,000 after purchasing an additional 1,482 shares during the last quarter. MCF Advisors LLC bought a new position in shares of CRISPR Therapeutics during the 4th quarter valued at about $80,000. First Horizon Advisors Inc. boosted its holdings in shares of CRISPR Therapeutics by 33.4% during the 4th quarter. First Horizon Advisors Inc. now owns 2,039 shares of the company’s stock valued at $80,000 after purchasing an additional 511 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of CRISPR Therapeutics by 91.1% during the 4th quarter. AdvisorNet Financial Inc now owns 2,478 shares of the company’s stock valued at $98,000 after purchasing an additional 1,181 shares during the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of CRISPR Therapeutics from $53.00 to $49.00 and set a “hold” rating for the company in a report on Thursday, February 13th. StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a report on Friday, March 21st. 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 for the company in a report on Wednesday, February 12th. Morgan Stanley increased their price target on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the company an “underweight” rating in a report on Friday, February 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus target price of $71.75.

Insider Transactions at CRISPR Therapeutics

In other news, COO Julianne Bruno sold 1,198 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $50,819.16. Following the transaction, the chief operating officer now directly owns 8,263 shares of the company’s stock, valued at approximately $350,516.46. This trade represents a 12.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Samarth Kulkarni sold 9,973 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $423,054.66. Following the transaction, the chief executive officer now directly owns 180,890 shares in the company, valued at approximately $7,673,353.80. This trade represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,381 shares of company stock valued at $1,608,243. 4.30% of the stock is currently owned by company insiders.

CRISPR Therapeutics Stock Down 4.4%

CRSP stock opened at $35.60 on Thursday. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -8.15 and a beta of 1.88. CRISPR Therapeutics AG has a twelve month low of $30.04 and a twelve month high of $67.88. The business’s fifty day simple moving average is $37.71 and its two-hundred day simple moving average is $42.56.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($1.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. The business’s revenue for the quarter was up 71.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.43) EPS. Research analysts expect that CRISPR Therapeutics AG will post -5.16 EPS 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.