CRISPR Therapeutics AG $CRSP Stake Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 31.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,726 shares of the company’s stock after buying an additional 1,380 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CRISPR Therapeutics were worth $195,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ARK Investment Management LLC lifted its position in shares of CRISPR Therapeutics by 13.3% during the 1st quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company’s stock valued at $345,929,000 after acquiring an additional 1,192,336 shares during the last quarter. Baker BROS. Advisors LP increased its position in CRISPR Therapeutics by 55.1% during the fourth quarter. Baker BROS. Advisors LP now owns 1,308,011 shares of the company’s stock worth $51,483,000 after buying an additional 464,936 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management acquired a new position in CRISPR Therapeutics during the first quarter worth $416,000. Cambridge Investment Research Advisors Inc. increased its position in CRISPR Therapeutics by 14.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,189 shares of the company’s stock worth $1,334,000 after buying an additional 4,914 shares during the last quarter. Finally, Green Alpha Advisors LLC increased its position in CRISPR Therapeutics by 132.9% during the first quarter. Green Alpha Advisors LLC now owns 57,361 shares of the company’s stock worth $1,952,000 after buying an additional 32,732 shares during the last quarter. 69.20% of the stock is owned by institutional investors.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, Director Simeon George purchased 989,812 shares of the business’s stock in a transaction on Wednesday, July 16th. The stock was purchased at an average price of $52.03 per share, for a total transaction of $51,499,918.36. Following the completion of the purchase, the director directly owned 1,730,179 shares in the company, valued at approximately $90,021,213.37. This trade represents a 133.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Naimish Patel sold 3,932 shares of CRISPR Therapeutics stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $35.94, for a total transaction of $141,316.08. Following the completion of the transaction, the insider owned 6,068 shares of the company’s stock, valued at $218,083.92. This trade represents a 39.32% decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

CRISPR Therapeutics Stock Performance

NASDAQ CRSP opened at $59.73 on Monday. The firm has a 50-day simple moving average of $53.49 and a 200 day simple moving average of $44.46. CRISPR Therapeutics AG has a twelve month low of $30.04 and a twelve month high of $71.13. The stock has a market cap of $5.43 billion, a PE ratio of -11.00 and a beta of 1.80.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Monday, August 4th. The company reported ($1.29) earnings per share for the quarter, beating the consensus estimate of ($1.47) by $0.18. The business had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $6.44 million. CRISPR Therapeutics had a negative net margin of 1,229.43% and a negative return on equity of 20.05%. The firm’s revenue was up 72.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.49) earnings per share. Research analysts forecast that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRSP has been the topic of several research analyst reports. HC Wainwright raised their price target on CRISPR Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen raised CRISPR Therapeutics to a “sell” rating in a research report on Friday, May 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Chardan Capital reaffirmed a “buy” rating and issued a $82.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group lowered their price target on CRISPR Therapeutics from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CRISPR Therapeutics has an average rating of “Hold” and a consensus target price of $71.60.

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.