Bank of America Corp DE Grows Stock Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Bank of America Corp DE boosted its position in CRISPR Therapeutics AG (NASDAQ:CRSP) by 12.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,211,509 shares of the company’s stock after buying an additional 129,746 shares during the quarter. Bank of America Corp DE owned approximately 1.42% of CRISPR Therapeutics worth $47,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in CRSP. Western Pacific Wealth Management LP boosted its stake in CRISPR Therapeutics by 100.0% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after buying an additional 500 shares during the period. Spire Wealth Management lifted its stake in CRISPR Therapeutics by 303.7% during the fourth quarter. Spire Wealth Management now owns 1,970 shares of the company’s stock worth $78,000 after purchasing an additional 1,482 shares during the last quarter. MCF Advisors LLC purchased a new position in shares of CRISPR Therapeutics in the fourth quarter worth about $80,000. First Horizon Advisors Inc. increased its holdings in shares of CRISPR Therapeutics by 33.4% in the fourth quarter. First Horizon Advisors Inc. now owns 2,039 shares of the company’s stock worth $80,000 after buying an additional 511 shares during the period. Finally, AdvisorNet Financial Inc increased its holdings in shares of CRISPR Therapeutics by 91.1% in the fourth quarter. AdvisorNet Financial Inc now owns 2,478 shares of the company’s stock worth $98,000 after buying an additional 1,181 shares during the period. 69.20% of the stock is owned by institutional investors.

Insider Buying and Selling at CRISPR Therapeutics

In other news, General Counsel James R. Kasinger sold 2,850 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total value of $120,897.00. Following the completion of the sale, the general counsel now directly owns 77,530 shares in the company, valued at $3,288,822.60. This represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Samarth Kulkarni sold 18,360 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total value of $1,013,472.00. Following the completion of the sale, the chief executive officer now owns 171,613 shares of the company’s stock, valued at $9,473,037.60. The trade was a 9.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,381 shares of company stock worth $1,608,243. Insiders own 4.30% of the company’s stock.

CRISPR Therapeutics Trading Down 4.4%

Shares of CRSP opened at $35.60 on Thursday. The firm has a market cap of $3.07 billion, a PE ratio of -8.15 and a beta of 1.88. The firm has a fifty day simple moving average of $37.71 and a two-hundred day simple moving average of $42.56. CRISPR Therapeutics AG has a 1-year low of $30.04 and a 1-year high of $67.88.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. The company’s revenue was up 71.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.43) EPS. As a group, research analysts forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank of Canada reduced their price target on CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 12th. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a report on Friday, March 21st. Needham & Company LLC reduced their target price on CRISPR Therapeutics from $84.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group reduced their target price on CRISPR Therapeutics from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $65.00 target price on shares of CRISPR Therapeutics in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics has an average rating of “Hold” and an average target price of $71.75.

About CRISPR Therapeutics

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.