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

TD Asset Management Inc lowered its position in CRISPR Therapeutics AG (NASDAQ:CRSP) by 23.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 174,616 shares of the company’s stock after selling 53,800 shares during the period. TD Asset Management Inc’s holdings in CRISPR Therapeutics were worth $11,317,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of CRISPR Therapeutics by 59.7% during the 2nd quarter. Legal & General Group Plc now owns 129,567 shares of the company’s stock valued at $6,302,000 after purchasing an additional 48,412 shares during the last quarter. Intellectus Partners LLC bought a new position in CRISPR Therapeutics during the 2nd quarter worth approximately $284,000. Philadelphia Trust Co. purchased a new position in CRISPR Therapeutics in the 2nd quarter worth approximately $2,444,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of CRISPR Therapeutics during the second quarter valued at approximately $911,000. Finally, JPMorgan Chase & Co. increased its stake in shares of CRISPR Therapeutics by 98.3% in the third quarter. JPMorgan Chase & Co. now owns 593,416 shares of the company’s stock worth $38,459,000 after buying an additional 294,222 shares during the period. 69.20% of the stock is currently owned by institutional investors.

CRISPR Therapeutics Trading Down 2.6%

NASDAQ CRSP opened at $60.14 on Monday. CRISPR Therapeutics AG has a 12 month low of $30.04 and a 12 month high of $78.48. The stock’s fifty day moving average price is $54.04 and its 200-day moving average price is $57.29. The stock has a market cap of $5.77 billion, a P/E ratio of -9.22 and a beta of 1.71.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($1.37) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.22). CRISPR Therapeutics had a negative net margin of 16,569.77% and a negative return on equity of 26.31%. The firm had revenue of $0.86 million for the quarter, compared to analysts’ expectations of $4.72 million. During the same quarter in the previous year, the company earned ($1.01) EPS. The company’s quarterly revenue was down 97.8% compared to the same quarter last year. As a group, analysts forecast that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 60,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $60.23, for a total value of $3,613,800.00. Following the transaction, the chief executive officer directly owned 134,201 shares in the company, valued at approximately $8,082,926.23. This trade represents a 30.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel James R. Kasinger sold 2,112 shares of CRISPR Therapeutics stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $52.58, for a total transaction of $111,048.96. Following the transaction, the general counsel owned 85,115 shares in the company, valued at $4,475,346.70. This represents a 2.42% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 99,079 shares of company stock worth $5,643,674. 4.10% of the stock is owned by insiders.

Analyst Ratings Changes

CRSP has been the topic of several recent analyst reports. Needham & Company LLC raised their target price on CRISPR Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Citigroup reiterated a “buy” rating on shares of CRISPR Therapeutics in a research report on Monday, February 16th. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Wednesday, January 21st. Morgan Stanley reiterated an “underweight” rating and issued a $33.00 price target on shares of CRISPR Therapeutics in a report on Tuesday, February 17th. Finally, TD Cowen upped their price objective on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $64.24.

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 ?-thalassemia in collaboration with Vertex Pharmaceuticals.