TD Asset Management Inc Trims Position in CRISPR Therapeutics AG $CRSP

TD Asset Management Inc reduced its position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 9.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 158,416 shares of the company’s stock after selling 16,200 shares during the quarter. TD Asset Management Inc’s holdings in CRISPR Therapeutics were worth $8,307,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CRSP. WCG Wealth Advisors LLC purchased a new stake in shares of CRISPR Therapeutics during the 4th quarter valued at approximately $574,000. Goldman Sachs Group Inc. grew its position in CRISPR Therapeutics by 7.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 275,632 shares of the company’s stock worth $14,454,000 after acquiring an additional 18,790 shares during the period. Calton & Associates Inc. acquired a new stake in CRISPR Therapeutics during the fourth quarter worth $221,000. Turn8 Private Wealth Inc. purchased a new stake in CRISPR Therapeutics in the fourth quarter valued at $134,000. Finally, Norges Bank acquired a new position in shares of CRISPR Therapeutics in the 4th quarter valued at $25,706,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel James R. Kasinger sold 3,450 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $48.26, for a total transaction of $166,497.00. Following the completion of the transaction, the general counsel directly owned 91,240 shares of the company’s stock, valued at $4,403,242.40. This represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Samarth Kulkarni sold 10,349 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $48.26, for a total transaction of $499,442.74. Following the sale, the chief executive officer owned 245,834 shares in the company, valued at $11,863,948.84. The trade was a 4.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,937 shares of company stock valued at $1,646,126 over the last quarter. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

CRSP has been the subject of a number of recent analyst reports. Citigroup reissued a “market outperform” rating on shares of CRISPR Therapeutics in a research report on Wednesday, May 27th. Sanford C. Bernstein upped their target price on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Piper Sandler restated an “overweight” rating and issued a $110.00 price objective (up from $105.00) on shares of CRISPR Therapeutics in a report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Monday, April 20th. Finally, Needham & Company LLC raised their price target on CRISPR Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.47.

CRISPR Therapeutics Price Performance

Shares of CRSP opened at $51.48 on Wednesday. CRISPR Therapeutics AG has a fifty-two week low of $39.81 and a fifty-two week high of $78.48. The firm’s 50 day moving average price is $52.23 and its 200 day moving average price is $53.11. The company has a market cap of $4.97 billion, a P/E ratio of -8.28 and a beta of 1.74. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share (EPS) for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. The company had revenue of $1.46 million during the quarter. On average, research analysts forecast that CRISPR Therapeutics AG will post -4.92 earnings per share for the current fiscal year.

About CRISPR Therapeutics

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.