InTrack Investment Management Inc Acquires New Holdings in CRISPR Therapeutics AG (NASDAQ:CRSP)

InTrack Investment Management Inc bought a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) during the first quarter, Holdings Channel reports. The fund bought 7,658 shares of the company’s stock, valued at approximately $522,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ARK Investment Management LLC lifted its holdings in shares of CRISPR Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after purchasing an additional 1,372,986 shares during the period. Capital International Investors lifted its holdings in CRISPR Therapeutics by 0.8% during the 4th quarter. Capital International Investors now owns 6,134,450 shares of the company’s stock worth $384,017,000 after buying an additional 48,938 shares during the period. Vanguard Group Inc. grew its position in shares of CRISPR Therapeutics by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 1,590,651 shares of the company’s stock valued at $99,575,000 after buying an additional 51,926 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of CRISPR Therapeutics by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 653,023 shares of the company’s stock valued at $40,879,000 after buying an additional 15,085 shares during the period. Finally, Norges Bank bought a new position in shares of CRISPR Therapeutics during the fourth quarter worth about $38,661,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

CRISPR Therapeutics Trading Down 1.5 %

NASDAQ CRSP traded down $0.84 during mid-day trading on Tuesday, hitting $53.12. The company’s stock had a trading volume of 1,058,868 shares, compared to its average volume of 1,643,101. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of -19.53 and a beta of 1.70. The company’s 50 day simple moving average is $56.62 and its 200 day simple moving average is $64.40. CRISPR Therapeutics AG has a twelve month low of $37.55 and a twelve month high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $25.53 million. CRISPR Therapeutics’s revenue was down 99.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.67) EPS. As a group, research analysts forecast that CRISPR Therapeutics AG will post -5.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRSP. Wells Fargo & Company reduced their target price on CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Piper Sandler reiterated an “overweight” rating and set a $105.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, June 17th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Citigroup dropped their price objective on CRISPR Therapeutics from $89.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, Oppenheimer decreased their target price on CRISPR Therapeutics from $102.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.71.

Insider Buying and Selling at CRISPR Therapeutics

In other news, COO Julianne Bruno sold 3,366 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the sale, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at $378,327.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Julianne Bruno sold 3,366 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the sale, the chief operating officer now owns 6,745 shares in the company, valued at approximately $378,327.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Samarth Kulkarni sold 19,582 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the transaction, the chief executive officer now directly owns 208,122 shares in the company, valued at $12,468,589.02. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

CRISPR Therapeutics Company Profile

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.