Readystate Asset Management LP Acquires New Holdings in CRISPR Therapeutics AG (NASDAQ:CRSP)

Readystate Asset Management LP purchased a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,153 shares of the company’s stock, valued at approximately $336,000.

Several other hedge funds also recently modified their holdings of CRSP. Cetera Investment Advisers boosted its position in shares of CRISPR Therapeutics by 451.3% in the first quarter. Cetera Investment Advisers now owns 34,100 shares of the company’s stock worth $2,324,000 after acquiring an additional 27,915 shares during the last quarter. CWM LLC raised its holdings in CRISPR Therapeutics by 11,871.1% in the second quarter. CWM LLC now owns 22,386 shares of the company’s stock valued at $1,209,000 after buying an additional 22,199 shares during the period. Capital Advisors Inc. OK raised its holdings in CRISPR Therapeutics by 8.1% in the third quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock valued at $14,122,000 after buying an additional 22,583 shares during the period. Granite Bay Wealth Management LLC purchased a new position in CRISPR Therapeutics in the second quarter valued at approximately $2,375,000. Finally, International Assets Investment Management LLC purchased a new position in CRISPR Therapeutics in the third quarter valued at approximately $1,825,000. 69.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CRSP. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a research note 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 research note on Wednesday, November 6th. Finally, Truist Financial dropped their price objective on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.94.

Insiders Place Their Bets

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the sale, the general counsel now directly owns 62,597 shares of the company’s stock, valued at $2,896,989.16. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Samarth Kulkarni sold 4,293 shares of CRISPR Therapeutics stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $198,680.04. Following the completion of the transaction, the chief executive officer now owns 226,540 shares of the company’s stock, valued at approximately $10,484,271.20. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,382 shares of company stock worth $2,744,179. Corporate insiders own 4.10% of the company’s stock.

CRISPR Therapeutics Stock Performance

NASDAQ:CRSP opened at $49.51 on Friday. CRISPR Therapeutics AG has a fifty-two week low of $43.42 and a fifty-two week high of $91.10. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -17.49 and a beta of 1.62. The stock has a fifty day moving average price of $48.56 and a 200-day moving average price of $51.53.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.41. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. The company had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $6.65 million. During the same quarter in the prior year, the firm posted ($1.41) earnings per share. Research analysts predict that CRISPR Therapeutics AG will post -5.14 EPS for the current fiscal 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.