Magnetar Financial LLC Invests $359,000 in CRISPR Therapeutics AG (NASDAQ:CRSP)

Magnetar Financial LLC acquired a new position in CRISPR Therapeutics AG (NASDAQ:CRSP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,125 shares of the company’s stock, valued at approximately $359,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Boston Family Office LLC lifted its holdings in CRISPR Therapeutics by 2.2% during the 3rd quarter. Boston Family Office LLC now owns 9,763 shares of the company’s stock worth $459,000 after buying an additional 213 shares in the last quarter. Bedell Frazier Investment Counselling LLC lifted its holdings in CRISPR Therapeutics by 0.8% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 26,357 shares of the company’s stock worth $1,238,000 after buying an additional 218 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in CRISPR Therapeutics by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 12,477 shares of the company’s stock worth $586,000 after buying an additional 231 shares in the last quarter. Intellectus Partners LLC lifted its holdings in CRISPR Therapeutics by 3.6% during the 4th quarter. Intellectus Partners LLC now owns 7,131 shares of the company’s stock worth $281,000 after buying an additional 250 shares in the last quarter. Finally, Farrow Financial Inc. lifted its holdings in CRISPR Therapeutics by 1.4% during the 4th quarter. Farrow Financial Inc. now owns 20,097 shares of the company’s stock worth $777,000 after buying an additional 270 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John Greene bought 7,000 shares of CRISPR Therapeutics stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $44.85 per share, for a total transaction of $313,950.00. Following the purchase, the director now owns 7,000 shares of the company’s stock, valued at approximately $313,950. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Samarth Kulkarni sold 18,360 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total transaction of $1,013,472.00. Following the completion of the sale, the chief executive officer now owns 171,613 shares of the company’s stock, valued at $9,473,037.60. This trade represents a 9.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,381 shares of company stock valued at $1,608,243. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CRSP. Bank of America reduced their target price on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a report on Wednesday, February 19th. TD Cowen upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a report on Wednesday, February 12th. HC Wainwright restated a “buy” rating and issued a $65.00 price objective on shares of CRISPR Therapeutics in a report on Thursday, February 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.11.

CRISPR Therapeutics Stock Performance

Shares of CRISPR Therapeutics stock opened at $41.22 on Friday. CRISPR Therapeutics AG has a 1 year low of $36.52 and a 1 year high of $73.09. The company has a market capitalization of $3.54 billion, a P/E ratio of -9.43 and a beta of 1.76. The company’s fifty day moving average is $43.09 and its two-hundred day moving average is $45.37.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. As a group, equities analysts expect that CRISPR Therapeutics AG will post -5.16 earnings per share 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.