Cetera Investment Advisers Reduces Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Cetera Investment Advisers lessened its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 16.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,835 shares of the company’s stock after selling 5,777 shares during the period. Cetera Investment Advisers’ holdings in CRISPR Therapeutics were worth $1,174,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Western Pacific Wealth Management LP lifted its stake in CRISPR Therapeutics by 100.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after acquiring an additional 500 shares during the period. Spire Wealth Management lifted its stake in CRISPR Therapeutics by 303.7% during the 4th quarter. Spire Wealth Management now owns 1,970 shares of the company’s stock valued at $78,000 after acquiring an additional 1,482 shares during the period. MCF Advisors LLC acquired a new stake in CRISPR Therapeutics during the 4th quarter valued at approximately $80,000. First Horizon Advisors Inc. lifted its stake in CRISPR Therapeutics by 33.4% during the 4th quarter. First Horizon Advisors Inc. now owns 2,039 shares of the company’s stock valued at $80,000 after acquiring an additional 511 shares during the period. Finally, Elkhorn Partners Limited Partnership lifted its stake in CRISPR Therapeutics by 22.6% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 3,800 shares of the company’s stock valued at $150,000 after acquiring an additional 700 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CRISPR Therapeutics

In other news, COO Julianne Bruno sold 1,198 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $50,819.16. Following the completion of the sale, the chief operating officer now owns 8,263 shares of the company’s stock, valued at $350,516.46. This represents a 12.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Samarth Kulkarni sold 9,973 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $423,054.66. Following the sale, the chief executive officer now directly owns 180,890 shares of the company’s stock, valued at $7,673,353.80. The trade was a 5.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,021 shares of company stock valued at $594,771 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CRSP has been the subject of several research reports. Chardan Capital decreased their price objective on shares of CRISPR Therapeutics from $84.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Evercore ISI upgraded shares of CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $99.00 in a research note on Friday, February 14th. Wall Street Zen upgraded shares of CRISPR Therapeutics to a “sell” rating in a research note on Friday, May 16th. Royal Bank of Canada decreased their target price on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $81.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $71.75.

CRISPR Therapeutics Stock Performance

NASDAQ:CRSP opened at $37.53 on Friday. The company has a fifty day moving average of $37.14 and a two-hundred day moving average of $42.10. The stock has a market capitalization of $3.24 billion, a PE ratio of -8.59 and a beta of 1.88. CRISPR Therapeutics AG has a fifty-two week low of $30.04 and a fifty-two week high of $67.88.

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

CRISPR Therapeutics 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.