Draper Asset Management LLC Increases Stock Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Draper Asset Management LLC boosted its stake in CRISPR Therapeutics AG (NASDAQ:CRSP) by 29.6% during the second quarter, HoldingsChannel reports. The firm owned 4,791 shares of the company’s stock after buying an additional 1,094 shares during the period. CRISPR Therapeutics comprises about 0.8% of Draper Asset Management LLC’s portfolio, making the stock its 17th biggest holding. Draper Asset Management LLC’s holdings in CRISPR Therapeutics were worth $776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Abundance Wealth Counselors purchased a new position in shares of CRISPR Therapeutics during the first quarter worth approximately $26,000. Tradition Wealth Management LLC purchased a new position in shares of CRISPR Therapeutics during the second quarter worth approximately $26,000. Arkadios Wealth Advisors purchased a new position in shares of CRISPR Therapeutics during the second quarter worth approximately $27,000. RMR Wealth Builders purchased a new position in shares of CRISPR Therapeutics during the first quarter worth approximately $29,000. Finally, Ameritas Investment Company LLC purchased a new position in shares of CRISPR Therapeutics during the first quarter worth approximately $29,000. 52.68% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CRSP traded up $0.14 during trading hours on Wednesday, hitting $116.44. The company had a trading volume of 37,194 shares, compared to its average volume of 1,651,059. CRISPR Therapeutics AG has a 52 week low of $79.31 and a 52 week high of $220.20. The company has a market capitalization of $8.87 billion, a PE ratio of 22.61 and a beta of 2.25. The stock has a 50-day moving average price of $125.99 and a 200 day moving average price of $124.31.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Thursday, July 29th. The company reported $9.44 EPS for the quarter, beating the Zacks’ consensus estimate of $3.52 by $5.92. CRISPR Therapeutics had a net margin of 49.52% and a return on equity of 24.08%. The firm had revenue of $900.70 million for the quarter, compared to analysts’ expectations of $678.05 million. On average, sell-side analysts forecast that CRISPR Therapeutics AG will post 4.81 EPS for the current fiscal year.

Several research firms have commented on CRSP. Chardan Capital decreased their price target on shares of CRISPR Therapeutics from $175.00 to $171.00 and set a “buy” rating on the stock in a research note on Friday, July 30th. TheStreet upgraded shares of CRISPR Therapeutics from a “d” rating to a “c+” rating in a report on Monday, August 9th. Canaccord Genuity raised their target price on shares of CRISPR Therapeutics from $151.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, August 16th. Citigroup upgraded shares of CRISPR Therapeutics from a “sell” rating to a “neutral” rating and raised their target price for the stock from $55.00 to $132.00 in a report on Monday, June 14th. Finally, upgraded shares of CRISPR Therapeutics from a “sell” rating to a “neutral” rating and raised their target price for the stock from $55.00 to $132.00 in a report on Monday, June 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $160.00.

In other news, President Rodger Novak sold 25,000 shares of the business’s stock in a transaction on Monday, June 21st. The shares were sold at an average price of $128.62, for a total transaction of $3,215,500.00. Following the sale, the president now owns 646,836 shares in the company, valued at approximately $83,196,046.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Samarth Kulkarni sold 1,500 shares of CRISPR Therapeutics stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $125.02, for a total value of $187,530.00. Following the completion of the transaction, the chief executive officer now directly owns 189,219 shares of the company’s stock, valued at approximately $23,656,159.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,875 shares of company stock worth $15,362,110. Company insiders own 10.70% of the company’s stock.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG engages in the development and commercialization of therapies derived from genome-editing technology. Its proprietary platform CRISPR/Cas9-based therapeutics allows for precise and directed changes to genomic DNA. The company was founded by Rodger Novak, Emmanuelle Charpentier, Shaun Patrick Foy, Matthew Porteus, Daniel Anderson, Chad Cowan and Craig Mellow in 2014 and is headquartered in Zug, Switzerland.

Further Reading: Index Funds

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Institutional Ownership by Quarter for CRISPR Therapeutics (NASDAQ:CRSP)

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