Raymond James & Associates Grows Stock Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Raymond James & Associates increased its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 11.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,839 shares of the company’s stock after buying an additional 3,231 shares during the period. Raymond James & Associates’ holdings in CRISPR Therapeutics were worth $1,993,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. HB Wealth Management LLC purchased a new stake in shares of CRISPR Therapeutics in the 4th quarter worth about $207,000. SG Americas Securities LLC boosted its position in shares of CRISPR Therapeutics by 107.3% in the 4th quarter. SG Americas Securities LLC now owns 48,013 shares of the company’s stock worth $3,006,000 after buying an additional 24,850 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in shares of CRISPR Therapeutics in the 4th quarter worth about $328,000. Bouvel Investment Partners LLC boosted its position in shares of CRISPR Therapeutics by 4.5% in the 4th quarter. Bouvel Investment Partners LLC now owns 21,848 shares of the company’s stock worth $1,368,000 after buying an additional 942 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its position in shares of CRISPR Therapeutics by 14.8% in the 4th quarter. Interchange Capital Partners LLC now owns 6,620 shares of the company’s stock worth $413,000 after buying an additional 855 shares in the last quarter. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRSP. Barclays upped their target price on shares of CRISPR Therapeutics from $61.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Wolfe Research started coverage on shares of CRISPR Therapeutics in a research note on Thursday, February 15th. They set a “peer perform” rating on the stock. Royal Bank of Canada lifted their target price on shares of CRISPR Therapeutics from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 22nd. Morgan Stanley boosted their price target on CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Finally, Mizuho raised their price objective on CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.93.

CRISPR Therapeutics Price Performance

NASDAQ CRSP opened at $57.96 on Wednesday. CRISPR Therapeutics AG has a 1-year low of $37.55 and a 1-year high of $91.10. The firm has a market capitalization of $4.92 billion, a P/E ratio of -29.57 and a beta of 1.76. The business’s 50-day simple moving average is $73.89 and its 200-day simple moving average is $63.30.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.15 by $0.95. The business had revenue of $201.20 million during the quarter, compared to analysts’ expectations of $148.72 million. During the same quarter in the previous year, the business posted ($1.41) EPS. The company’s quarterly revenue was up 3253.3% on a year-over-year basis. On average, equities research analysts expect that CRISPR Therapeutics AG will post -6.24 EPS for the current fiscal year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 50,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $60.51, for a total transaction of $3,025,500.00. Following the completion of the sale, the chief executive officer now directly owns 187,377 shares of the company’s stock, valued at approximately $11,338,182.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other CRISPR Therapeutics news, CFO Raju Prasad sold 3,524 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $72.69, for a total value of $256,159.56. Following the completion of the transaction, the chief financial officer now owns 6,476 shares in the company, valued at approximately $470,740.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Samarth Kulkarni sold 50,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $60.51, for a total transaction of $3,025,500.00. Following the sale, the chief executive officer now owns 187,377 shares in the company, valued at approximately $11,338,182.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,410 shares of company stock valued at $7,984,677. Company insiders own 4.10% of the company’s stock.

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.