TD Asset Management Inc Lowers Stock Position in CRISPR Therapeutics AG $CRSP

TD Asset Management Inc cut its position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 5.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 228,416 shares of the company’s stock after selling 13,904 shares during the quarter. TD Asset Management Inc’s holdings in CRISPR Therapeutics were worth $11,110,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in CRISPR Therapeutics by 24.6% during the second quarter. IFP Advisors Inc now owns 916 shares of the company’s stock worth $45,000 after buying an additional 181 shares in the last quarter. SFE Investment Counsel lifted its holdings in CRISPR Therapeutics by 5.8% during the first quarter. SFE Investment Counsel now owns 6,507 shares of the company’s stock valued at $221,000 after purchasing an additional 355 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in CRISPR Therapeutics by 4.0% during the first quarter. Axxcess Wealth Management LLC now owns 10,309 shares of the company’s stock valued at $351,000 after purchasing an additional 393 shares in the last quarter. GF Fund Management CO. LTD. lifted its holdings in CRISPR Therapeutics by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 2,186 shares of the company’s stock valued at $74,000 after purchasing an additional 394 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. lifted its holdings in CRISPR Therapeutics by 1.7% during the second quarter. Ipswich Investment Management Co. Inc. now owns 24,968 shares of the company’s stock valued at $1,214,000 after purchasing an additional 425 shares in the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Trading Up 1.1%

NASDAQ:CRSP opened at $69.15 on Friday. The company’s 50-day moving average price is $60.44 and its 200-day moving average price is $50.11. The company has a market cap of $6.29 billion, a P/E ratio of -12.73 and a beta of 1.84. CRISPR Therapeutics AG has a twelve month low of $30.04 and a twelve month high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Monday, August 4th. The company reported ($1.29) earnings per share for the quarter, topping the consensus estimate of ($1.47) by $0.18. The firm had revenue of $0.89 million for the quarter, compared to the consensus estimate of $6.44 million. CRISPR Therapeutics had a negative net margin of 1,229.43% and a negative return on equity of 20.05%. The company’s revenue for the quarter was up 72.5% on a year-over-year basis. During the same period last year, the firm posted ($1.49) earnings per share. On average, analysts expect that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insider Activity

In other news, General Counsel James R. Kasinger sold 1,076 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total value of $71,661.60. Following the transaction, the general counsel directly owned 83,402 shares of the company’s stock, valued at approximately $5,554,573.20. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Samarth Kulkarni sold 4,242 shares of CRISPR Therapeutics stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total transaction of $282,517.20. Following the transaction, the chief executive officer directly owned 205,096 shares in the company, valued at $13,659,393.60. This trade represents a 2.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CRSP. Wells Fargo & Company set a $75.00 price objective on shares of CRISPR Therapeutics in a report on Monday, October 13th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, September 23rd. Royal Bank Of Canada increased their price objective on shares of CRISPR Therapeutics from $38.00 to $42.00 and gave the company a “sector perform” rating in a report on Tuesday, August 5th. Bank of America increased their price objective on shares of CRISPR Therapeutics from $78.00 to $93.00 and gave the company a “buy” rating in a report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 price objective on shares of CRISPR Therapeutics in a report on Friday, October 10th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.59.

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.