KLP Kapitalforvaltning AS Raises Position in CRISPR Therapeutics AG $CRSP

KLP Kapitalforvaltning AS increased its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,200 shares of the company’s stock after acquiring an additional 1,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in CRISPR Therapeutics were worth $837,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. ARK Investment Management LLC lifted its stake in shares of CRISPR Therapeutics by 13.3% in the first quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company’s stock worth $345,929,000 after acquiring an additional 1,192,336 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of CRISPR Therapeutics by 182.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,952,751 shares of the company’s stock worth $66,452,000 after acquiring an additional 1,262,560 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of CRISPR Therapeutics by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company’s stock worth $60,223,000 after acquiring an additional 33,711 shares in the last quarter. Orbis Allan Gray Ltd lifted its stake in shares of CRISPR Therapeutics by 5.9% in the first quarter. Orbis Allan Gray Ltd now owns 1,562,932 shares of the company’s stock worth $53,187,000 after acquiring an additional 86,813 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of CRISPR Therapeutics by 6,769.1% in the first quarter. Millennium Management LLC now owns 583,733 shares of the company’s stock worth $19,864,000 after acquiring an additional 575,235 shares in the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

Insider Buying and Selling

In other news, CEO Samarth Kulkarni sold 4,242 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total transaction of $282,517.20. Following the sale, the chief executive officer directly owned 205,096 shares in the company, valued at approximately $13,659,393.60. This represents a 2.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel James R. Kasinger sold 1,076 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total value of $71,661.60. Following the sale, the general counsel owned 83,402 shares in the company, valued at $5,554,573.20. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on CRSP shares. JMP Securities reiterated a “market outperform” rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research note on Friday, June 27th. Wells Fargo & Company set a $75.00 price objective on CRISPR Therapeutics in a research note on Monday. Barclays upped their price objective on CRISPR Therapeutics from $42.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. began coverage on CRISPR Therapeutics in a research note on Thursday, September 18th. They set an “overweight” rating and a $70.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.71.

CRISPR Therapeutics Trading Down 4.7%

Shares of CRISPR Therapeutics stock opened at $68.43 on Friday. The business’s 50 day simple moving average is $60.15 and its 200-day simple moving average is $49.75. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of -12.60 and a beta of 1.84. CRISPR Therapeutics AG has a twelve month low of $30.04 and a twelve month high of $78.48.

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

CRISPR Therapeutics Company 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.