Bedell Frazier Investment Counselling LLC Sells 7,118 Shares of CRISPR Therapeutics AG $CRSP

Bedell Frazier Investment Counselling LLC trimmed its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 48.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,646 shares of the company’s stock after selling 7,118 shares during the period. Bedell Frazier Investment Counselling LLC’s holdings in CRISPR Therapeutics were worth $372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CRSP. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in CRISPR Therapeutics by 182.9% in the 1st 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 purchasing an additional 1,262,560 shares during the last quarter. ARK Investment Management LLC boosted its stake in shares of CRISPR Therapeutics by 13.3% in the 1st quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company’s stock valued at $345,929,000 after purchasing an additional 1,192,336 shares during the last quarter. Geode Capital Management LLC grew its position in shares of CRISPR Therapeutics by 98.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,071,883 shares of the company’s stock worth $100,789,000 after buying an additional 1,025,979 shares during the period. Millennium Management LLC raised its stake in shares of CRISPR Therapeutics by 6,769.1% during the first quarter. Millennium Management LLC now owns 583,733 shares of the company’s stock worth $19,864,000 after buying an additional 575,235 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its stake in shares of CRISPR Therapeutics by 115.3% during the second quarter. Vestmark Advisory Solutions Inc. now owns 484,975 shares of the company’s stock worth $23,589,000 after buying an additional 259,669 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

CRISPR Therapeutics Stock Performance

NASDAQ CRSP opened at $55.32 on Tuesday. CRISPR Therapeutics AG has a 52 week low of $30.04 and a 52 week high of $78.48. The stock’s 50 day moving average price is $62.96 and its two-hundred day moving average price is $53.87. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -9.90 and a beta of 1.89.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Monday, November 10th. The company reported ($1.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.32) by $0.15. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. The firm had revenue of $0.89 million for the quarter, compared to analyst estimates of $8.74 million. On average, equities research analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 50,895 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $67.91, for a total value of $3,456,279.45. Following the completion of the transaction, the chief executive officer directly owned 254,201 shares in the company, valued at $17,262,789.91. This trade represents a 16.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel James R. Kasinger sold 1,076 shares of the company’s 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 approximately $5,554,573.20. This represents a 1.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 56,213 shares of company stock valued at $3,810,458 over the last three months. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CRSP. Citigroup reaffirmed a “buy” rating and issued a $77.00 price objective (down from $87.00) on shares of CRISPR Therapeutics in a research note on Tuesday, November 11th. Robert W. Baird reduced their price target on CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Chardan Capital reiterated a “buy” rating and issued a $82.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, August 5th. Needham & Company LLC cut their target price on CRISPR Therapeutics from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, September 23rd. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, CRISPR Therapeutics currently has an average rating of “Hold” and a consensus target price of $67.84.

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.