Freedom Investment Management Inc. Decreases Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Freedom Investment Management Inc. lowered its position in CRISPR Therapeutics AG (NASDAQ:CRSP) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,161 shares of the company’s stock after selling 428 shares during the quarter. Freedom Investment Management Inc.’s holdings in CRISPR Therapeutics were worth $383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its holdings in CRISPR Therapeutics by 1.0% in the 3rd quarter. FMR LLC now owns 2,376,166 shares of the company’s stock valued at $111,632,000 after purchasing an additional 23,075 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of CRISPR Therapeutics by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 12,477 shares of the company’s stock valued at $586,000 after buying an additional 231 shares during the period. Boston Family Office LLC boosted its position in CRISPR Therapeutics by 2.2% during the third quarter. Boston Family Office LLC now owns 9,763 shares of the company’s stock worth $459,000 after acquiring an additional 213 shares during the last quarter. Bedell Frazier Investment Counselling LLC grew its stake in CRISPR Therapeutics by 0.8% in the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 26,357 shares of the company’s stock worth $1,238,000 after acquiring an additional 218 shares during the period. Finally, Independent Advisor Alliance raised its holdings in CRISPR Therapeutics by 29.2% in the 3rd quarter. Independent Advisor Alliance now owns 7,719 shares of the company’s stock valued at $363,000 after acquiring an additional 1,745 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

CRISPR Therapeutics Stock Up 0.6 %

Shares of CRSP opened at $51.17 on Friday. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of -18.08 and a beta of 1.67. The business’s 50 day moving average is $48.13 and its two-hundred day moving average is $51.62. CRISPR Therapeutics AG has a 52-week low of $43.42 and a 52-week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.41. The firm had revenue of $0.60 million for the quarter, compared to analysts’ expectations of $6.65 million. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. During the same period in the prior year, the company posted ($1.41) earnings per share. On average, equities analysts expect that CRISPR Therapeutics AG will post -5.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the transaction, the general counsel now directly owns 62,597 shares in the company, valued at approximately $2,896,989.16. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 30,000 shares of CRISPR Therapeutics stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.62, for a total transaction of $1,668,600.00. Following the completion of the transaction, the chief executive officer now directly owns 196,540 shares of the company’s stock, valued at $10,931,554.80. This trade represents a 13.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,382 shares of company stock worth $1,917,679. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CRSP. Stifel Nicolaus decreased their target price on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a report on Wednesday, November 6th. Barclays reduced their target price on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Finally, Truist Financial decreased their target price on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.94.

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.