Bank of New York Mellon Corp Buys 3,378 Shares of CRISPR Therapeutics AG (NASDAQ:CRSP)

Bank of New York Mellon Corp grew its position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 4.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 78,692 shares of the company’s stock after buying an additional 3,378 shares during the quarter. Bank of New York Mellon Corp’s holdings in CRISPR Therapeutics were worth $4,250,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CRSP. Baillie Gifford & Co. increased its stake in CRISPR Therapeutics by 2.4% during the 2nd quarter. Baillie Gifford & Co. now owns 405,425 shares of the company’s stock valued at $21,897,000 after purchasing an additional 9,510 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of CRISPR Therapeutics during the 2nd quarter worth $46,000. Slow Capital Inc. raised its holdings in shares of CRISPR Therapeutics by 17.2% in the second quarter. Slow Capital Inc. now owns 79,216 shares of the company’s stock valued at $4,278,000 after acquiring an additional 11,647 shares in the last quarter. Krilogy Financial LLC lifted its stake in CRISPR Therapeutics by 92.9% in the second quarter. Krilogy Financial LLC now owns 20,872 shares of the company’s stock worth $1,127,000 after acquiring an additional 10,050 shares during the period. Finally, Liberty One Investment Management LLC increased its holdings in CRISPR Therapeutics by 14.2% during the second quarter. Liberty One Investment Management LLC now owns 2,705 shares of the company’s stock valued at $146,000 after buying an additional 336 shares during the period. 69.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CRSP. Rodman & Renshaw assumed coverage on shares of CRISPR Therapeutics in a research note on Friday, August 2nd. They set a “buy” rating and a $90.00 price objective for the company. Needham & Company LLC decreased their price objective on CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Truist Financial reduced their price objective on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a research report on Friday, August 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $105.00 price target on shares of CRISPR Therapeutics in a research note on Monday, June 17th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus target price of $75.63.

CRISPR Therapeutics Stock Performance

CRSP opened at $48.94 on Friday. The company has a market cap of $4.16 billion, a P/E ratio of -17.99 and a beta of 1.68. CRISPR Therapeutics AG has a one year low of $37.55 and a one year high of $91.10. The business’s 50-day simple moving average is $51.20 and its 200-day simple moving average is $58.68.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Monday, August 5th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The company had revenue of $0.52 million during the quarter, compared to analysts’ expectations of $12.31 million. The firm’s revenue was down 99.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.98) EPS. As a group, analysts predict that CRISPR Therapeutics AG will post -5.6 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Julianne Bruno sold 3,366 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the transaction, the chief operating officer now owns 6,745 shares in the company, valued at approximately $378,327.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

CRISPR Therapeutics Company Profile

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.