Northern Trust Corp Increases Stock Holdings in CRISPR Therapeutics AG (NASDAQ:CRSP)

Northern Trust Corp increased its position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 12.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 257,168 shares of the company’s stock after buying an additional 29,416 shares during the quarter. Northern Trust Corp owned about 0.30% of CRISPR Therapeutics worth $10,122,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. ARK Investment Management LLC lifted its holdings in shares of CRISPR Therapeutics by 19.7% during the fourth quarter. ARK Investment Management LLC now owns 8,973,064 shares of the company’s stock worth $353,180,000 after purchasing an additional 1,474,439 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in CRISPR Therapeutics by 39.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company’s stock valued at $150,029,000 after buying an additional 1,074,238 shares in the last quarter. Capital International Investors increased its stake in CRISPR Therapeutics by 10.3% in the 4th quarter. Capital International Investors now owns 8,743,523 shares of the company’s stock valued at $344,145,000 after purchasing an additional 816,789 shares in the last quarter. Norges Bank acquired a new position in shares of CRISPR Therapeutics during the 4th quarter worth $17,458,000. Finally, Contrarius Group Holdings Ltd acquired a new position in CRISPR Therapeutics during the fourth quarter worth about $14,516,000. 69.20% of the stock is owned by institutional investors and hedge funds.

CRISPR Therapeutics Stock Up 6.8%

Shares of NASDAQ CRSP opened at $38.77 on Friday. The stock’s 50 day moving average price is $37.50 and its two-hundred day moving average price is $42.36. CRISPR Therapeutics AG has a 52-week low of $30.04 and a 52-week high of $67.88. The stock has a market capitalization of $3.35 billion, a P/E ratio of -8.87 and a beta of 1.88.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. During the same period last year, the business earned ($1.43) EPS. The company’s quarterly revenue was up 71.6% on a year-over-year basis. On average, analysts anticipate that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Wall Street Analyst Weigh In

CRSP has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Stifel Nicolaus cut their target price on CRISPR Therapeutics from $53.00 to $49.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley increased their target price on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, February 14th. Chardan Capital reduced their price objective on CRISPR Therapeutics from $84.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $71.75.

Insiders Place Their Bets

In related news, Director John Greene bought 7,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $44.85 per share, for a total transaction of $313,950.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at approximately $313,950. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samarth Kulkarni sold 18,360 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total value of $1,013,472.00. Following the sale, the chief executive officer now owns 171,613 shares in the company, valued at $9,473,037.60. The trade was a 9.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,381 shares of company stock valued at $1,608,243. Company insiders own 4.30% 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.