Perigon Wealth Management LLC Reduces Position in Crispr Therapeutics AG (NASDAQ:CRSP)

Perigon Wealth Management LLC lowered its position in Crispr Therapeutics AG (NASDAQ:CRSP) by 22.4% in the second quarter, HoldingsChannel reports. The firm owned 4,927 shares of the company’s stock after selling 1,425 shares during the period. Perigon Wealth Management LLC’s holdings in Crispr Therapeutics were worth $362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. M&T Bank Corp grew its holdings in shares of Crispr Therapeutics by 3.9% in the second quarter. M&T Bank Corp now owns 8,423 shares of the company’s stock valued at $619,000 after purchasing an additional 314 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in shares of Crispr Therapeutics in the second quarter valued at about $313,000. Lenox Wealth Management Inc. lifted its position in Crispr Therapeutics by 77.3% in the second quarter. Lenox Wealth Management Inc. now owns 3,898 shares of the company’s stock valued at $286,000 after buying an additional 1,700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Crispr Therapeutics by 23.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,445 shares of the company’s stock valued at $1,723,000 after buying an additional 4,406 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Crispr Therapeutics by 8.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,401 shares of the company’s stock valued at $470,000 after buying an additional 498 shares during the last quarter. 57.93% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have commented on CRSP shares. William Blair reaffirmed a “buy” rating on shares of Crispr Therapeutics in a research report on Tuesday, July 28th. Chardan Capital upped their target price on shares of Crispr Therapeutics from $72.50 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $104.00 target price on shares of Crispr Therapeutics in a research report on Friday, June 19th. Oppenheimer started coverage on shares of Crispr Therapeutics in a research report on Monday, July 27th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, Canaccord Genuity upped their target price on shares of Crispr Therapeutics from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $90.93.

In other Crispr Therapeutics news, COO Lawrence Otto Klein sold 25,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $60.40, for a total value of $1,510,000.00. Following the transaction, the chief operating officer now directly owns 45,000 shares in the company, valued at $2,718,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samarth Kulkarni sold 10,693 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $65.28, for a total transaction of $698,039.04. Following the completion of the transaction, the chief executive officer now owns 175,833 shares in the company, valued at $11,478,378.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,214 shares of company stock worth $21,181,054. 21.40% of the stock is owned by corporate insiders.

Shares of NASDAQ:CRSP opened at $85.46 on Friday. The firm’s 50 day moving average price is $80.79 and its 200 day moving average price is $59.93. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 185.78 and a beta of 2.35. Crispr Therapeutics AG has a fifty-two week low of $32.30 and a fifty-two week high of $97.82.

Crispr Therapeutics (NASDAQ:CRSP) last issued its earnings results on Monday, July 27th. The company reported ($1.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.35). The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $19.77 million. Crispr Therapeutics had a net margin of 6.77% and a return on equity of 2.35%. The firm’s revenue was down 86.2% compared to the same quarter last year. During the same period last year, the business earned ($1.01) EPS. On average, research analysts predict that Crispr Therapeutics AG will post -4.74 EPS for the current fiscal year.

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

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