TD Asset Management Inc Sells 53,800 Shares of CRISPR Therapeutics AG $CRSP

TD Asset Management Inc reduced its stake in CRISPR Therapeutics AG (NASDAQ:CRSP) by 23.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,616 shares of the company’s stock after selling 53,800 shares during the period. TD Asset Management Inc owned approximately 0.19% of CRISPR Therapeutics worth $11,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRSP. State Street Corp raised its position in shares of CRISPR Therapeutics by 35.6% in the 2nd quarter. State Street Corp now owns 3,270,596 shares of the company’s stock valued at $159,082,000 after buying an additional 859,334 shares in the last quarter. Orbis Allan Gray Ltd boosted its holdings in shares of CRISPR Therapeutics by 76.9% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock valued at $134,467,000 after purchasing an additional 1,201,600 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of CRISPR Therapeutics by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,364,645 shares of the company’s stock valued at $153,253,000 after purchasing an additional 66,556 shares during the last quarter. Geode Capital Management LLC lifted 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 last quarter. Finally, JPMorgan Chase & Co. boosted its stake in CRISPR Therapeutics by 98.3% in the third quarter. JPMorgan Chase & Co. now owns 593,416 shares of the company’s stock valued at $38,459,000 after buying an additional 294,222 shares in the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Wednesday, January 21st. Needham & Company LLC upped their price target on shares of CRISPR Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Citigroup reissued a “buy” rating on shares of CRISPR Therapeutics in a report on Monday, February 16th. Citizens Jmp lowered their target price on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a report on Friday, January 30th. Finally, Evercore reiterated an “outperform” rating and issued a $74.00 target price on shares of CRISPR Therapeutics in a research report on Friday, February 13th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $64.24.

Insider Buying and Selling at CRISPR Therapeutics

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 value of $111,048.96. Following the completion of the sale, the general counsel owned 85,115 shares in the company, valued at $4,475,346.70. This represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Samarth Kulkarni sold 6,967 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $52.58, for a total transaction of $366,324.86. Following the completion of the sale, the chief executive officer directly owned 226,106 shares of the company’s stock, valued at $11,888,653.48. The trade was a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,079 shares of company stock valued at $5,643,674 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

CRISPR Therapeutics Stock Performance

Shares of CRSP stock opened at $60.14 on Monday. CRISPR Therapeutics AG has a fifty-two week low of $30.04 and a fifty-two week high of $78.48. The stock has a 50 day simple moving average of $54.04 and a two-hundred day simple moving average of $57.29. The company has a market cap of $5.77 billion, a P/E ratio of -9.22 and a beta of 1.71.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($1.37) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($0.22). CRISPR Therapeutics had a negative net margin of 16,569.77% and a negative return on equity of 26.31%. The company had revenue of $0.86 million for the quarter, compared to analyst estimates of $4.72 million. During the same quarter in the prior year, the company posted ($1.01) EPS. CRISPR Therapeutics’s revenue for the quarter was down 97.8% on a year-over-year basis. On average, research analysts predict that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

CRISPR Therapeutics Company 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.