The Manufacturers Life Insurance Company Decreases Stock Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

The Manufacturers Life Insurance Company lessened its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 39.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,246 shares of the company’s stock after selling 8,126 shares during the period. The Manufacturers Life Insurance Company’s holdings in CRISPR Therapeutics were worth $661,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CRSP. Capital International Investors boosted its position in CRISPR Therapeutics by 27.8% during the first quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock valued at $534,175,000 after purchasing an additional 1,702,624 shares in the last quarter. SR One Capital Management LP acquired a new stake in CRISPR Therapeutics during the first quarter worth about $71,496,000. Farallon Capital Management LLC acquired a new stake in CRISPR Therapeutics during the second quarter worth about $28,625,000. Avoro Capital Advisors LLC acquired a new stake in CRISPR Therapeutics in the first quarter valued at approximately $28,599,000. Finally, Marshall Wace LLP acquired a new stake in CRISPR Therapeutics in the second quarter valued at approximately $10,078,000. Institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Price Performance

NASDAQ CRSP opened at $47.83 on Tuesday. CRISPR Therapeutics AG has a fifty-two week low of $37.55 and a fifty-two week high of $91.10. The stock’s 50-day moving average is $47.17 and its two-hundred day moving average is $53.91. The firm has a market cap of $4.06 billion, a P/E ratio of -17.58 and a beta of 1.68.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research note on Friday, August 16th. Stifel Nicolaus dropped their price objective on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Cantor Fitzgerald reissued a “neutral” rating on shares of CRISPR Therapeutics in a research note on Thursday, August 8th. Piper Sandler reissued an “overweight” rating and set a $105.00 target price on shares of CRISPR Therapeutics in a research note on Monday, June 17th. Finally, Barclays lowered their price objective on CRISPR Therapeutics from $67.00 to $59.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, CRISPR Therapeutics has an average rating of “Hold” and a consensus target price of $75.19.

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.