E Fund Management Co. Ltd. Has $599,000 Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

E Fund Management Co. Ltd. increased its stake in CRISPR Therapeutics AG (NASDAQ:CRSP) by 101.9% in the 2nd quarter, Holdings Channel reports. The firm owned 11,088 shares of the company’s stock after purchasing an additional 5,597 shares during the period. E Fund Management Co. Ltd.’s holdings in CRISPR Therapeutics were worth $599,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRSP. Principal Securities Inc. acquired a new stake in CRISPR Therapeutics in the 4th quarter worth approximately $41,000. Avantax Advisory Services Inc. bought a new position in CRISPR Therapeutics in the 4th quarter worth approximately $341,000. Vanguard Personalized Indexing Management LLC bought a new position in CRISPR Therapeutics in the 4th quarter worth approximately $265,000. Beacon Pointe Advisors LLC bought a new position in CRISPR Therapeutics in the 4th quarter worth approximately $236,000. Finally, Brown Advisory Inc. bought a new position in CRISPR Therapeutics in the 4th quarter worth approximately $235,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on CRSP. Barclays dropped their price target on CRISPR Therapeutics from $67.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC dropped their price target on CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Rodman & Renshaw began coverage on CRISPR Therapeutics in a research report on Friday, August 2nd. They issued a “buy” rating and a $90.00 price target on the stock. Royal Bank of Canada lowered their price objective on CRISPR Therapeutics from $66.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $105.00 target price on shares of CRISPR Therapeutics in a research note on Monday, June 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $75.63.

Insider Transactions at CRISPR Therapeutics

In other news, COO Julianne Bruno sold 3,366 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $56.09, for a total transaction of $188,798.94. Following the sale, the chief operating officer now owns 6,745 shares in the company, valued at $378,327.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.10% of the company’s stock.

CRISPR Therapeutics Price Performance

CRISPR Therapeutics stock opened at $49.59 on Thursday. The stock has a fifty day moving average price of $50.79 and a two-hundred day moving average price of $57.45. CRISPR Therapeutics AG has a 52-week low of $37.55 and a 52-week high of $91.10. The firm has a market capitalization of $4.21 billion, a P/E ratio of -18.23 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Monday, August 5th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The firm had revenue of $0.52 million during the quarter, compared to the consensus estimate of $12.31 million. The business’s revenue was down 99.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.98) EPS. On average, equities research analysts predict that CRISPR Therapeutics AG will post -5.6 EPS for the current fiscal year.

CRISPR Therapeutics 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.