Concorde Asset Management LLC purchased a new position in shares of Crispr Therapeutics AG (NASDAQ:CRSP) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,921 shares of the company’s stock, valued at approximately $830,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC purchased a new position in Crispr Therapeutics during the third quarter worth about $403,000. Webster Bank N. A. purchased a new position in Crispr Therapeutics during the third quarter worth about $27,000. NEXT Financial Group Inc purchased a new position in Crispr Therapeutics during the third quarter worth about $143,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Crispr Therapeutics during the third quarter worth about $92,000. Finally, Vigilant Capital Management LLC purchased a new position in Crispr Therapeutics during the third quarter worth about $25,000. Institutional investors and hedge funds own 55.29% of the company’s stock.
A number of research analysts have weighed in on the stock. SunTrust Banks assumed coverage on shares of Crispr Therapeutics in a research note on Tuesday, July 14th. They issued a “buy” rating and a $140.00 target price on the stock. Citigroup reiterated a “sell” rating on shares of Crispr Therapeutics in a research note on Wednesday, August 5th. BidaskClub upgraded shares of Crispr Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, September 2nd. Stifel Nicolaus boosted their target price on shares of Crispr Therapeutics from $75.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 21st. Finally, Chardan Capital upped their price target on shares of Crispr Therapeutics from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $101.41.
Crispr Therapeutics (NASDAQ:CRSP) last posted its earnings results on Monday, July 27th. The company reported ($1.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.35). Crispr Therapeutics had a return on equity of 2.35% and a net margin of 6.77%. The company had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $19.77 million. During the same period in the prior year, the business posted ($1.01) earnings per share. The company’s revenue for the quarter was down 86.2% on a year-over-year basis. As a group, research analysts forecast that Crispr Therapeutics AG will post -4.72 EPS for the current fiscal year.
In related news, Director Bradley J. Phd Bolzon sold 60,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $92.51, for a total value of $5,550,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Rodger Novak sold 25,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $92.62, for a total transaction of $2,315,500.00. Following the completion of the transaction, the president now owns 651,940 shares of the company’s stock, valued at $60,382,682.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,000 shares of company stock valued at $12,064,743. 21.40% of the stock is owned by company insiders.
Crispr Therapeutics Profile
CRISPR Therapeutics AG, a gene editing company, focuses on developing transformative gene-based medicines for the treatment of serious human diseases using its regularly interspaced short palindromic repeats associated protein-9 (CRISPR/Cas9) gene-editing platform in Switzerland. Its lead product candidate is CTX001, an ex vivo CRISPR gene-edited therapy for treating patients suffering from dependent beta thalassemia or severe sickle cell disease in which a patient's hematopoietic stem cells are engineered to produce high levels of fetal hemoglobin in red blood cells.
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