Envestnet Asset Management Inc. Acquires 2,739 Shares of CRISPR Therapeutics AG (NASDAQ:CRSP)

Envestnet Asset Management Inc. lifted its holdings in CRISPR Therapeutics AG (NASDAQ:CRSPGet Rating) by 14.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 21,828 shares of the company’s stock after acquiring an additional 2,739 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CRISPR Therapeutics were worth $1,326,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. increased its stake in shares of CRISPR Therapeutics by 1,128.0% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 614 shares of the company’s stock worth $39,000 after buying an additional 564 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of CRISPR Therapeutics by 159.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 635 shares of the company’s stock worth $39,000 after buying an additional 390 shares during the period. Allworth Financial LP increased its stake in shares of CRISPR Therapeutics by 21.0% in the second quarter. Allworth Financial LP now owns 737 shares of the company’s stock worth $45,000 after buying an additional 128 shares during the period. Twin Lakes Capital Management LLC increased its stake in shares of CRISPR Therapeutics by 80.4% in the first quarter. Twin Lakes Capital Management LLC now owns 772 shares of the company’s stock worth $48,000 after buying an additional 344 shares during the period. Finally, Pinnacle Holdings LLC purchased a new position in shares of CRISPR Therapeutics in the first quarter worth $48,000. 70.56% of the stock is currently owned by institutional investors.

CRISPR Therapeutics Price Performance

NASDAQ:CRSP opened at $55.54 on Tuesday. The company has a market capitalization of $4.35 billion, a PE ratio of -6.31 and a beta of 1.71. The firm’s 50-day moving average price is $59.26 and its 200-day moving average price is $64.45. CRISPR Therapeutics AG has a 1-year low of $42.51 and a 1-year high of $86.95.

CRISPR Therapeutics (NASDAQ:CRSPGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported ($2.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.30) by $0.06. The company had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $3.53 million. CRISPR Therapeutics had a negative net margin of 4,831.79% and a negative return on equity of 31.34%. Equities analysts anticipate that CRISPR Therapeutics AG will post -9.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRSP has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on shares of CRISPR Therapeutics from $55.00 to $69.00 in a research note on Tuesday, August 9th. Credit Suisse Group decreased their target price on shares of CRISPR Therapeutics from $90.00 to $78.00 in a research note on Wednesday, November 2nd. Chardan Capital reduced their price objective on shares of CRISPR Therapeutics from $164.00 to $154.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Citigroup boosted their price objective on shares of CRISPR Therapeutics from $53.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, August 2nd. Finally, SVB Leerink boosted their price objective on shares of CRISPR Therapeutics from $75.00 to $76.00 and gave the company an “outperform” rating in a research report on Monday, November 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $102.69.

Insider Buying and Selling

In related news, CEO Samarth Kulkarni sold 25,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $66.84, for a total value of $1,671,000.00. Following the transaction, the chief executive officer now owns 290,279 shares in the company, valued at approximately $19,402,248.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 75,000 shares of company stock worth $4,656,500 in the last quarter. Corporate insiders own 5.30% of the company’s stock.

CRISPR Therapeutics 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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