Bay Colony Advisory Group Inc d b a Bay Colony Advisors Lowers Stake in CRISPR Therapeutics AG (NASDAQ:CRSP)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors cut its holdings in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 28.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,933 shares of the company’s stock after selling 1,950 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in CRISPR Therapeutics were worth $309,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CRSP. Fairfield Bush & CO. acquired a new position in shares of CRISPR Therapeutics during the first quarter worth $90,000. Bank of New York Mellon Corp increased its position in shares of CRISPR Therapeutics by 40.7% during the first quarter. Bank of New York Mellon Corp now owns 91,062 shares of the company’s stock worth $5,716,000 after purchasing an additional 26,358 shares in the last quarter. US Bancorp DE increased its position in shares of CRISPR Therapeutics by 10.0% during the first quarter. US Bancorp DE now owns 9,526 shares of the company’s stock worth $598,000 after purchasing an additional 866 shares in the last quarter. BlackRock Inc. increased its position in shares of CRISPR Therapeutics by 79.2% during the first quarter. BlackRock Inc. now owns 2,278,774 shares of the company’s stock worth $143,038,000 after purchasing an additional 1,007,246 shares in the last quarter. Finally, Cibc World Market Inc. increased its position in shares of CRISPR Therapeutics by 49.3% during the first quarter. Cibc World Market Inc. now owns 8,354 shares of the company’s stock worth $524,000 after purchasing an additional 2,760 shares in the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRSP has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on CRISPR Therapeutics from $46.00 to $48.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Royal Bank of Canada upped their target price on CRISPR Therapeutics from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. TheStreet raised CRISPR Therapeutics from a “d+” rating to a “c” rating in a research report on Friday, February 23rd. Barclays upped their price target on shares of CRISPR Therapeutics from $61.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Finally, Chardan Capital upped their price target on shares of CRISPR Therapeutics from $110.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.93.

CRISPR Therapeutics Price Performance

CRSP stock opened at $58.72 on Tuesday. The company’s 50-day simple moving average is $73.89 and its 200-day simple moving average is $63.30. CRISPR Therapeutics AG has a 52-week low of $37.55 and a 52-week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Wednesday, February 21st. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.95. The firm had revenue of $201.20 million for the quarter, compared to analysts’ expectations of $148.72 million. During the same period in the previous year, the company earned ($1.41) earnings per share. The company’s revenue was up 3253.3% compared to the same quarter last year. On average, sell-side analysts forecast that CRISPR Therapeutics AG will post -6.24 EPS for the current year.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $60.51, for a total value of $3,025,500.00. Following the transaction, the chief executive officer now directly owns 187,377 shares of the company’s stock, valued at approximately $11,338,182.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Samarth Kulkarni sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $60.51, for a total value of $3,025,500.00. Following the transaction, the chief executive officer now directly owns 187,377 shares of the company’s stock, valued at approximately $11,338,182.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel James R. Kasinger sold 2,801 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $78.26, for a total transaction of $219,206.26. Following the completion of the transaction, the general counsel now directly owns 60,070 shares in the company, valued at $4,701,078.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,410 shares of company stock valued at $7,984,677. 4.10% of the stock is owned by corporate insiders.

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.