Avantax Advisory Services Inc. Makes New Investment in CRISPR Therapeutics AG (NASDAQ:CRSP)

Avantax Advisory Services Inc. acquired a new stake in CRISPR Therapeutics AG (NASDAQ:CRSP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,836 shares of the company’s stock, valued at approximately $269,000.

A number of other institutional investors have also modified their holdings of CRSP. Wilmington Savings Fund Society FSB purchased a new position in CRISPR Therapeutics in the 3rd quarter worth approximately $40,000. Highline Wealth Partners LLC purchased a new position in shares of CRISPR Therapeutics in the fourth quarter valued at $39,000. Western Pacific Wealth Management LP grew its holdings in CRISPR Therapeutics by 100.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares in the last quarter. Spire Wealth Management increased its stake in CRISPR Therapeutics by 303.7% during the 4th quarter. Spire Wealth Management now owns 1,970 shares of the company’s stock worth $78,000 after buying an additional 1,482 shares during the period. Finally, MCF Advisors LLC acquired a new position in CRISPR Therapeutics in the 4th quarter worth $80,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Insider Buying and Selling

In related news, CEO Samarth Kulkarni sold 18,360 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total value of $1,013,472.00. Following the sale, the chief executive officer now directly owns 171,613 shares in the company, valued at $9,473,037.60. The trade was a 9.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel James R. Kasinger sold 2,850 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total transaction of $120,897.00. Following the sale, the general counsel now owns 77,530 shares of the company’s stock, valued at $3,288,822.60. The trade was a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,381 shares of company stock valued at $1,608,243 over the last three months. Company insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

CRSP has been the topic of a number of analyst reports. Bank of America dropped their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Truist Financial upped their target price on CRISPR Therapeutics from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley raised their price target on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, February 14th. JMP Securities reissued a “market outperform” rating and set a $86.00 target price on shares of CRISPR Therapeutics in a report on Thursday, February 13th. Finally, Stifel Nicolaus decreased their price target on shares of CRISPR Therapeutics from $53.00 to $49.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, CRISPR Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $73.11.

CRISPR Therapeutics Stock Performance

Shares of CRSP stock opened at $40.89 on Wednesday. CRISPR Therapeutics AG has a 1 year low of $36.52 and a 1 year high of $73.09. The stock has a fifty day moving average of $43.21 and a two-hundred day moving average of $45.32. The firm has a market capitalization of $3.51 billion, a PE ratio of -9.36 and a beta of 1.77.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. Equities research analysts predict that CRISPR Therapeutics AG will post -5.16 earnings per share 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.