Monashee Investment Management LLC Acquires Shares of 50,000 CRISPR Therapeutics AG $CRSP

Monashee Investment Management LLC acquired a new stake in CRISPR Therapeutics AG (NASDAQ:CRSP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $2,378,000. CRISPR Therapeutics comprises about 1.3% of Monashee Investment Management LLC’s portfolio, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Himension Capital Singapore PTE. LTD. raised its holdings in shares of CRISPR Therapeutics by 9.6% during the first quarter. Himension Capital Singapore PTE. LTD. now owns 92,481 shares of the company’s stock worth $4,399,000 after purchasing an additional 8,091 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in CRISPR Therapeutics by 6.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,202 shares of the company’s stock valued at $390,000 after purchasing an additional 489 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in CRISPR Therapeutics in the first quarter valued at $108,000. Hollencrest Capital Management grew its position in CRISPR Therapeutics by 249.9% during the 1st quarter. Hollencrest Capital Management now owns 1,312 shares of the company’s stock worth $62,000 after purchasing an additional 937 shares during the period. Finally, KBC Group NV grew its position in CRISPR Therapeutics by 3,999.9% during the 1st quarter. KBC Group NV now owns 116,847 shares of the company’s stock worth $5,558,000 after purchasing an additional 113,997 shares during the period. Institutional investors and hedge funds own 69.20% of the company’s stock.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,786 shares of the stock in a transaction 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 transaction, the insider directly owned 19,357 shares of the company’s stock, valued at $1,076,636.34. This trade represents a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is currently owned by insiders.

CRISPR Therapeutics Trading Down 1.9%

Shares of NASDAQ:CRSP opened at $47.24 on Thursday. CRISPR Therapeutics AG has a 1 year low of $44.12 and a 1 year high of $78.48. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of -7.59 and a beta of 1.71. The company has a debt-to-equity ratio of 0.32, a current ratio of 17.97 and a quick ratio of 17.96. The business’s 50 day moving average price is $52.75 and its 200-day moving average price is $52.81.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share (EPS) for the quarter. The company had revenue of $1.46 million during the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. On average, equities research analysts forecast that CRISPR Therapeutics AG will post -4.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $60.00 price objective on CRISPR Therapeutics and gave the company an “equal weight” rating in a report on Thursday, June 11th. Sanford C. Bernstein raised their target price on CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Evercore reiterated an “outperform” rating and set a $76.00 price target on shares of CRISPR Therapeutics in a research report on Monday, May 11th. Truist Financial raised CRISPR Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Citigroup reissued a “market outperform” rating on shares of CRISPR Therapeutics in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.78.

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.