CRISPR Therapeutics AG $CRSP Shares Sold by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. trimmed its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 5.3% during the first quarter, HoldingsChannel reports. The fund owned 1,853,875 shares of the company’s stock after selling 104,236 shares during the quarter. CRISPR Therapeutics comprises approximately 1.2% of Amova Asset Management Americas Inc.’s holdings, making the stock its 26th largest position. Amova Asset Management Americas Inc.’s holdings in CRISPR Therapeutics were worth $88,189,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. GSK plc acquired a new position in CRISPR Therapeutics in the fourth quarter worth about $168,890,000. Orbis Allan Gray Ltd raised its stake in 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 buying an additional 1,201,600 shares in the last quarter. State Street Corp lifted its holdings in CRISPR Therapeutics by 35.6% during the 2nd quarter. State Street Corp now owns 3,270,596 shares of the company’s stock worth $159,082,000 after buying an additional 859,334 shares during the last quarter. ARK Investment Management LLC grew its position in shares of CRISPR Therapeutics by 7.5% in the 4th quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock worth $551,777,000 after acquiring an additional 735,084 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at approximately $25,706,000. 69.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,786 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,076,636.34. This represents a 16.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Friday. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of CRISPR Therapeutics in a research note on Wednesday, July 8th. Sanford C. Bernstein increased their target price on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $80.00 price target on shares of CRISPR Therapeutics in a report on Monday, July 6th. Finally, UBS Group set a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.78.

CRISPR Therapeutics Stock Performance

CRSP stock opened at $46.99 on Tuesday. CRISPR Therapeutics AG has a 1 year low of $44.12 and a 1 year high of $78.48. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -7.55 and a beta of 1.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 17.96 and a current ratio of 17.97. The stock’s fifty day moving average is $52.96 and its two-hundred day moving average is $52.88.

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