Mirae Asset Global Investments Co. Ltd. Decreases Stake in CRISPR Therapeutics AG (NASDAQ:CRSP)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSPGet Rating) by 15.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 105,382 shares of the company’s stock after selling 19,095 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CRISPR Therapeutics were worth $6,615,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CRSP. Northern Trust Corp boosted its position in shares of CRISPR Therapeutics by 2.4% during the 4th quarter. Northern Trust Corp now owns 43,308 shares of the company’s stock worth $3,282,000 after purchasing an additional 1,007 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CRISPR Therapeutics by 67.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 259,041 shares of the company’s stock worth $19,636,000 after buying an additional 104,371 shares in the last quarter. Citigroup Inc. boosted its position in shares of CRISPR Therapeutics by 8.0% in the 4th quarter. Citigroup Inc. now owns 30,788 shares of the company’s stock worth $2,332,000 after buying an additional 2,275 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of CRISPR Therapeutics by 19.8% in the 4th quarter. JPMorgan Chase & Co. now owns 771,899 shares of the company’s stock worth $58,495,000 after buying an additional 127,313 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of CRISPR Therapeutics by 2.6% in the 4th quarter. Allianz Asset Management GmbH now owns 43,137 shares of the company’s stock worth $3,277,000 after buying an additional 1,075 shares in the last quarter. 70.56% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Price Performance

NASDAQ CRSP opened at $66.65 on Thursday. CRISPR Therapeutics AG has a 12 month low of $42.51 and a 12 month high of $122.25. The company has a 50-day moving average of $73.14 and a 200-day moving average of $65.41. The company has a market cap of $5.20 billion, a P/E ratio of -8.10 and a beta of 1.97.

CRISPR Therapeutics (NASDAQ:CRSPGet Rating) last posted its quarterly earnings data on Monday, August 8th. The company reported ($2.40) EPS for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.17). CRISPR Therapeutics had a negative net margin of 4,274.02% and a negative return on equity of 27.40%. The company had revenue of $0.20 million for the quarter, compared to analyst estimates of $2.20 million. During the same period in the prior year, the company earned $9.44 EPS. The company’s revenue was down 100.0% compared to the same quarter last year. As a group, equities research analysts anticipate that CRISPR Therapeutics AG will post -9.26 EPS for the current year.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $61.59, for a total transaction of $1,539,750.00. Following the completion of the sale, the chief executive officer now owns 290,279 shares in the company, valued at approximately $17,878,283.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 75,000 shares of company stock worth $5,108,500. 5.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Credit Suisse Group boosted their price objective on shares of CRISPR Therapeutics from $74.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 9th. TheStreet lowered shares of CRISPR Therapeutics from a “c” rating to a “d” rating in a research report on Thursday, August 18th. Stifel Nicolaus boosted their price objective on shares of CRISPR Therapeutics from $55.00 to $69.00 in a research report on Tuesday, August 9th. Piper Sandler boosted their price objective on shares of CRISPR Therapeutics from $115.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 22nd. Finally, Citigroup boosted their target price on shares of CRISPR Therapeutics from $53.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus price target of $112.33.

CRISPR Therapeutics Company Profile

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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.

See Also

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Institutional Ownership by Quarter for CRISPR Therapeutics (NASDAQ:CRSP)

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