Amova Asset Management Americas Inc. Decreases Position in CRISPR Therapeutics AG $CRSP

Amova Asset Management Americas Inc. trimmed its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 10.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,163,675 shares of the company’s stock after selling 250,596 shares during the quarter. CRISPR Therapeutics comprises approximately 1.4% of Amova Asset Management Americas Inc.’s portfolio, making the stock its 19th biggest position. Amova Asset Management Americas Inc. owned approximately 2.38% of CRISPR Therapeutics worth $140,185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRSP. Legal & General Group Plc raised its stake in CRISPR Therapeutics by 59.7% during the 2nd quarter. Legal & General Group Plc now owns 129,567 shares of the company’s stock worth $6,302,000 after acquiring an additional 48,412 shares in the last quarter. Philadelphia Trust Co. acquired a new stake in shares of CRISPR Therapeutics during the second quarter worth about $2,444,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of CRISPR Therapeutics in the 2nd quarter valued at about $911,000. JPMorgan Chase & Co. boosted its position in shares of CRISPR Therapeutics by 98.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 593,416 shares of the company’s stock valued at $38,459,000 after purchasing an additional 294,222 shares during the period. Finally, Nwam LLC boosted its position in shares of CRISPR Therapeutics by 455.7% in the 3rd quarter. Nwam LLC now owns 101,769 shares of the company’s stock valued at $6,770,000 after purchasing an additional 83,454 shares during the period. Institutional investors and hedge funds own 69.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC boosted their price objective on CRISPR Therapeutics from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday, January 21st. Robert W. Baird lowered their price objective on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Royal Bank Of Canada lifted their price objective on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 11th. Finally, Chardan Capital increased their target price on shares of CRISPR Therapeutics from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Saturday, February 14th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $64.24.

Insiders Place Their Bets

In other news, General Counsel James R. Kasinger sold 2,112 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $52.58, for a total transaction of $111,048.96. Following the transaction, the general counsel directly owned 85,115 shares of the company’s stock, valued at $4,475,346.70. This represents a 2.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Samarth Kulkarni sold 60,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $60.23, for a total transaction of $3,613,800.00. Following the completion of the sale, the chief executive officer owned 134,201 shares of the company’s stock, valued at $8,082,926.23. This trade represents a 30.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 99,079 shares of company stock worth $5,643,674. Corporate insiders own 4.30% of the company’s stock.

CRISPR Therapeutics Trading Up 3.3%

NASDAQ CRSP opened at $60.00 on Thursday. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of -9.20 and a beta of 1.72. The business’s 50 day moving average is $54.20 and its two-hundred day moving average is $57.31. CRISPR Therapeutics AG has a 12-month low of $30.04 and a 12-month high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.22). The business had revenue of $0.86 million during the quarter, compared to analysts’ expectations of $4.72 million. CRISPR Therapeutics had a negative net margin of 16,569.77% and a negative return on equity of 26.31%. The firm’s quarterly revenue was down 97.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.01) earnings per share. Equities analysts forecast that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

CRISPR Therapeutics Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.