Moran Wealth Management LLC Acquires 8,717 Shares of CRISPR Therapeutics AG $CRSP

Moran Wealth Management LLC boosted its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 52.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,302 shares of the company’s stock after buying an additional 8,717 shares during the quarter. Moran Wealth Management LLC’s holdings in CRISPR Therapeutics were worth $1,204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. GSK plc bought a new stake in shares of CRISPR Therapeutics in the fourth quarter worth approximately $168,890,000. Orbis Allan Gray Ltd raised its holdings in shares of CRISPR Therapeutics by 76.9% during the second 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 during the last quarter. State Street Corp lifted its position in CRISPR Therapeutics by 35.6% during the second quarter. State Street Corp now owns 3,270,596 shares of the company’s stock valued at $159,082,000 after purchasing an additional 859,334 shares during the period. ARK Investment Management LLC boosted its holdings in CRISPR Therapeutics by 7.5% in the fourth quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock worth $551,777,000 after purchasing an additional 735,084 shares during the last quarter. Finally, Norges Bank purchased a new stake in CRISPR Therapeutics in the fourth quarter worth approximately $25,706,000. Institutional investors own 69.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup reiterated a “market outperform” rating on shares of CRISPR Therapeutics in a research note on Wednesday, May 27th. Sanford C. Bernstein raised their price target on CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective (up from $105.00) on shares of CRISPR Therapeutics in a report on Tuesday, March 17th. Evercore reiterated an “outperform” rating and set a $76.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, May 11th. Finally, Wall Street Zen cut CRISPR Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.78.

CRISPR Therapeutics Stock Performance

CRSP traded down $2.80 during trading on Tuesday, hitting $59.09. The company’s stock had a trading volume of 486,858 shares, compared to its average volume of 1,823,704. 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 AG has a one year low of $44.12 and a one year high of $78.48. The firm has a market cap of $5.70 billion, a PE ratio of -9.52 and a beta of 1.71. The business’s 50 day simple moving average is $52.92 and its 200-day simple moving average is $53.09.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($1.28) earnings per share (EPS) for the quarter. The business had revenue of $1.46 million for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. As a group, sell-side analysts predict that CRISPR Therapeutics AG will post -4.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,786 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $55.62, for a total transaction of $210,577.32. Following the completion of the sale, the insider owned 19,357 shares of the company’s stock, valued at approximately $1,076,636.34. The trade was a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 4.10% of the company’s stock.

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.