Readystate Asset Management LP Invests $996,000 in CRISPR Therapeutics AG $CRSP

Readystate Asset Management LP purchased a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 20,933 shares of the company’s stock, valued at approximately $996,000.

Several other institutional investors also recently bought and sold shares of CRSP. ARK Investment Management LLC increased its position in shares of CRISPR Therapeutics by 7.5% in the fourth quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock valued at $551,777,000 after buying an additional 735,084 shares in the last quarter. Orbis Allan Gray Ltd raised its position in shares of CRISPR Therapeutics by 19.4% during the 4th quarter. Orbis Allan Gray Ltd now owns 5,950,145 shares of the company’s stock worth $312,026,000 after purchasing an additional 968,060 shares during the last quarter. Capital International Investors raised its position in shares of CRISPR Therapeutics by 4.3% during the 4th quarter. Capital International Investors now owns 5,892,745 shares of the company’s stock worth $309,016,000 after purchasing an additional 243,487 shares during the last quarter. State Street Corp lifted its stake in 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. Finally, GSK plc purchased a new position in CRISPR Therapeutics in the 4th quarter valued at about $168,890,000. 69.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Naimish Patel sold 3,786 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $55.62, for a total value of $210,577.32. Following the completion of the transaction, the insider owned 19,357 shares of the company’s stock, valued at approximately $1,076,636.34. This trade represents a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 5.20% of the company’s stock.

CRISPR Therapeutics Trading Up 0.2%

CRSP opened at $47.64 on Thursday. CRISPR Therapeutics AG has a 52 week low of $44.12 and a 52 week high of $78.48. The business has a fifty day simple moving average of $52.60 and a 200-day simple moving average of $52.49. The firm has a market cap of $4.59 billion, a P/E ratio of -7.66 and a beta of 1.71. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share (EPS) for the quarter. The firm had revenue of $1.46 million for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%. On average, equities analysts expect that CRISPR Therapeutics AG will post -4.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Evercore reiterated an “outperform” rating and set a $76.00 price objective on shares of CRISPR Therapeutics in a research note on Monday, May 11th. Citigroup reissued a “market outperform” rating on shares of CRISPR Therapeutics in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Friday, July 17th. UBS Group set a $80.00 target price on shares of CRISPR Therapeutics in a report on Friday, June 12th. Finally, Morgan Stanley set a $60.00 target price on shares of CRISPR Therapeutics and gave the company an “equal weight” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.78.

About CRISPR Therapeutics

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.