Norges Bank Buys Shares of 490,206 CRISPR Therapeutics AG $CRSP

Norges Bank bought a new stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 490,206 shares of the company’s stock, valued at approximately $25,706,000. Norges Bank owned approximately 0.51% of CRISPR Therapeutics at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Rothschild Investment LLC raised its holdings in CRISPR Therapeutics by 836.7% during the fourth quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock valued at $29,000 after buying an additional 502 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of CRISPR Therapeutics by 21.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 11,446 shares of the company’s stock worth $600,000 after purchasing an additional 2,033 shares during the period. Intech Investment Management LLC increased its stake in shares of CRISPR Therapeutics by 22.4% in the fourth quarter. Intech Investment Management LLC now owns 28,044 shares of the company’s stock worth $1,471,000 after purchasing an additional 5,140 shares during the period. Geode Capital Management LLC increased its stake in shares of CRISPR Therapeutics by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 2,249,223 shares of the company’s stock worth $117,971,000 after purchasing an additional 108,053 shares during the period. Finally, Global Assets Advisory LLC bought a new position in shares of CRISPR Therapeutics in the fourth quarter worth about $228,000. 69.20% of the stock is currently owned by institutional investors.

CRISPR Therapeutics Stock Down 0.2%

Shares of CRSP opened at $51.48 on Wednesday. The company has a market capitalization of $4.97 billion, a P/E ratio of -8.28 and a beta of 1.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 17.97 and a quick ratio of 17.96. CRISPR Therapeutics AG has a one year low of $39.81 and a one year high of $78.48. The business’s 50 day simple moving average is $52.23 and its 200-day simple moving average is $53.11.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Tuesday, March 31st. The company reported ($1.28) EPS for the quarter. The business had revenue of $1.46 million during the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%. As a group, sell-side analysts predict that CRISPR Therapeutics AG will post -4.92 EPS for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, insider Naimish Patel sold 3,786 shares of CRISPR Therapeutics stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $55.62, for a total transaction of $210,577.32. Following the completion of the sale, the insider owned 19,357 shares in the company, valued at $1,076,636.34. The trade was a 16.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Samarth Kulkarni sold 10,349 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $48.26, for a total transaction of $499,442.74. Following the sale, the chief executive officer owned 245,834 shares of the company’s stock, valued at $11,863,948.84. The trade was a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 33,937 shares of company stock worth $1,646,126. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRSP. Morgan Stanley reiterated an “underweight” rating and issued a $33.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, February 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Monday, April 20th. TD Cowen lifted their price objective on CRISPR Therapeutics from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Piper Sandler reissued an “overweight” rating and set a $110.00 target price (up from $105.00) on shares of CRISPR Therapeutics in a research report on Tuesday, March 17th. Finally, Truist Financial raised CRISPR Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, CRISPR Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $65.47.

CRISPR Therapeutics Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.