Arkadios Wealth Advisors Trims Stake in CRISPR Therapeutics AG (NASDAQ:CRSP)

Posted by on Mar 21st, 2023

Arkadios Wealth Advisors decreased its position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP – Get Rating) by 10.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,732 shares of the company’s stock after selling 1,302 shares during the period. Arkadios Wealth Advisors’ holdings in CRISPR Therapeutics were worth $477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. McGuire Investment Group LLC grew its holdings in shares of CRISPR Therapeutics by 672.8% during the 4th quarter. McGuire Investment Group LLC now owns 35,849 shares of the company’s stock worth $1,457,000 after acquiring an additional 31,210 shares during the period. Continental Investors Services Inc. bought a new stake in shares of CRISPR Therapeutics in the 3rd quarter worth approximately $1,554,000. WealthPlan Investment Management LLC bought a new stake in shares of CRISPR Therapeutics in the 3rd quarter worth approximately $377,000. Bank of New York Mellon Corp boosted its position in shares of CRISPR Therapeutics by 16.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 118,444 shares of the company’s stock worth $7,741,000 after purchasing an additional 16,669 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its position in shares of CRISPR Therapeutics by 36.2% in the 3rd quarter. IHT Wealth Management LLC now owns 10,045 shares of the company’s stock worth $656,000 after purchasing an additional 2,668 shares in the last quarter. Hedge funds and other institutional investors own 71.51% of the company’s stock.

CRISPR Therapeutics Trading Down 2.8 %

Shares of CRSP opened at $44.46 on Tuesday. The firm has a market cap of $3.50 billion, a PE ratio of -5.31 and a beta of 1.73. The firm has a fifty day simple moving average of $49.74 and a two-hundred day simple moving average of $53.48. CRISPR Therapeutics AG has a 1-year low of $38.94 and a 1-year high of $86.95.

CRISPR Therapeutics (NASDAQ:CRSP – Get Rating) last announced its earnings results on Tuesday, February 21st. The company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.27) by $0.86. The business had revenue of $6.00 million during the quarter, compared to analyst estimates of $7.37 million. CRISPR Therapeutics had a negative net margin of 54,271.70% and a negative return on equity of 31.85%. The company’s quarterly revenue was down 53.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.84) EPS. As a group, research analysts forecast that CRISPR Therapeutics AG will post -7.54 EPS for the current fiscal year.

Analyst Ratings Changes

CRSP has been the topic of a number of analyst reports. Robert W. Baird initiated coverage on CRISPR Therapeutics in a research report on Monday, March 6th. They issued a “neutral” rating and a $46.00 price target on the stock. Morgan Stanley boosted their price target on CRISPR Therapeutics from $37.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, February 27th. Bryan, Garnier & Co assumed coverage on CRISPR Therapeutics in a research report on Friday. They issued a “buy” rating and a $70.00 price objective on the stock. Chardan Capital lowered their price objective on CRISPR Therapeutics from $153.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, February 22nd. Finally, Credit Suisse Group lowered their price objective on CRISPR Therapeutics from $78.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.59.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 25,000 shares of the company’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $51.47, for a total value of $1,286,750.00. Following the completion of the sale, the chief executive officer now directly owns 369,111 shares in the company, valued at approximately $18,998,143.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 75,000 shares of company stock worth $3,516,250 in the last three months. Corporate insiders own 5.30% of the company’s stock.

About CRISPR Therapeutics

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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.

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

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