Newbridge Financial Services Group Inc. Raises Holdings in CRISPR Therapeutics AG (NASDAQ:CRSP)

Newbridge Financial Services Group Inc. lifted its stake in CRISPR Therapeutics AG (NASDAQ:CRSP) by 49.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,076 shares of the company’s stock after acquiring an additional 358 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in CRISPR Therapeutics were worth $67,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at $32,000. Bourgeon Capital Management LLC grew its holdings in shares of CRISPR Therapeutics by 1,000.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at about $41,000. TFC Financial Management Inc. lifted its stake in CRISPR Therapeutics by 3,400.0% in the fourth quarter. TFC Financial Management Inc. now owns 700 shares of the company’s stock valued at $44,000 after buying an additional 680 shares during the last quarter. Finally, Sachetta LLC acquired a new position in shares of CRISPR Therapeutics in the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRSP. Piper Sandler restated an “overweight” rating and issued a $105.00 price target on shares of CRISPR Therapeutics in a research report on Monday. Wells Fargo & Company dropped their price objective on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Oppenheimer reduced their target price on shares of CRISPR Therapeutics from $102.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Needham & Company LLC reiterated a “buy” rating and set a $88.00 price target on shares of CRISPR Therapeutics in a research note on Monday. Finally, Robert W. Baird raised their price objective on shares of CRISPR Therapeutics from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, CRISPR Therapeutics presently has an average rating of “Hold” and a consensus price target of $75.71.

Insider Activity

In related news, CEO Samarth Kulkarni sold 19,582 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the sale, the chief executive officer now directly owns 208,122 shares in the company, valued at approximately $12,468,589.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.10% of the company’s stock.

CRISPR Therapeutics Stock Down 0.7 %

CRSP stock traded down $0.43 during midday trading on Tuesday, hitting $61.35. The stock had a trading volume of 214,037 shares, compared to its average volume of 1,650,756. CRISPR Therapeutics AG has a 12-month low of $37.55 and a 12-month high of $91.10. The company’s 50-day moving average price is $57.06 and its 200 day moving average price is $65.09.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. During the same period last year, the business earned ($0.67) EPS. CRISPR Therapeutics’s revenue for the quarter was down 99.5% compared to the same quarter last year. As a group, sell-side analysts expect that CRISPR Therapeutics AG will post -5.51 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.