Pathway Capital Management LP Invests $3.24 Million in CRISPR Therapeutics AG $CRSP

Pathway Capital Management LP acquired a new stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) during the third quarter, HoldingsChannel reports. The fund acquired 50,049 shares of the company’s stock, valued at approximately $3,244,000. CRISPR Therapeutics accounts for 15.9% of Pathway Capital Management LP’s investment portfolio, making the stock its 4th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CRISPR Therapeutics by 5.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,516 shares of the company’s stock worth $228,000 after buying an additional 180 shares during the last quarter. IFP Advisors Inc boosted its position in CRISPR Therapeutics by 24.6% in the second quarter. IFP Advisors Inc now owns 916 shares of the company’s stock worth $45,000 after purchasing an additional 181 shares during the last quarter. Cerity Partners LLC grew its stake in shares of CRISPR Therapeutics by 3.0% during the 2nd quarter. Cerity Partners LLC now owns 6,541 shares of the company’s stock valued at $318,000 after purchasing an additional 190 shares during the period. Peapack Gladstone Financial Corp grew its stake in shares of CRISPR Therapeutics by 3.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company’s stock valued at $339,000 after purchasing an additional 200 shares during the period. Finally, Ipswich Investment Management Co. Inc. increased its position in shares of CRISPR Therapeutics by 0.9% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 25,198 shares of the company’s stock valued at $1,633,000 after purchasing an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRSP shares. Chardan Capital cut their target price on shares of CRISPR Therapeutics from $82.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Bank of America cut their price objective on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Royal Bank Of Canada raised their target price on CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 11th. Citigroup reiterated a “market outperform” rating on shares of CRISPR Therapeutics in a research report on Friday. Finally, Citizens Jmp reduced their price target on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a research report on Friday. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.85.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $60.23, for a total transaction of $3,613,800.00. Following the transaction, the chief executive officer owned 134,201 shares of the company’s stock, valued at approximately $8,082,926.23. This represents a 30.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is currently owned by insiders.

CRISPR Therapeutics Trading Up 2.7%

NASDAQ:CRSP opened at $51.31 on Tuesday. The business’s 50-day moving average is $55.08 and its 200 day moving average is $58.27. CRISPR Therapeutics AG has a 12 month low of $30.04 and a 12 month high of $78.48. The company has a market capitalization of $4.89 billion, a P/E ratio of -9.18 and a beta of 1.72.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.17) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.15. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. The business had revenue of $0.89 million during the quarter, compared to analyst estimates of $8.74 million. On average, research analysts forecast that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

CRISPR Therapeutics 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.