Granite Bay Wealth Management LLC Makes New Investment in CRISPR Therapeutics AG (NASDAQ:CRSP)

Granite Bay Wealth Management LLC purchased a new position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 41,096 shares of the company’s stock, valued at approximately $2,375,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sunbelt Securities Inc. lifted its position in CRISPR Therapeutics by 23.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 2,655 shares of the company’s stock worth $143,000 after buying an additional 500 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in CRISPR Therapeutics by 4.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,606 shares of the company’s stock worth $249,000 after buying an additional 211 shares in the last quarter. Creative Planning lifted its position in CRISPR Therapeutics by 3.2% during the 2nd quarter. Creative Planning now owns 14,750 shares of the company’s stock worth $797,000 after buying an additional 456 shares in the last quarter. Algert Global LLC lifted its position in CRISPR Therapeutics by 45.0% during the 2nd quarter. Algert Global LLC now owns 12,342 shares of the company’s stock worth $667,000 after buying an additional 3,832 shares in the last quarter. Finally, Scientech Research LLC lifted its position in CRISPR Therapeutics by 181.6% during the 2nd quarter. Scientech Research LLC now owns 24,323 shares of the company’s stock worth $1,314,000 after buying an additional 15,686 shares in the last quarter. 69.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CRSP has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their target price on shares of CRISPR Therapeutics from $66.00 to $60.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 6th. Guggenheim reaffirmed a “neutral” rating on shares of CRISPR Therapeutics in a report on Friday, June 28th. Rodman & Renshaw initiated coverage on shares of CRISPR Therapeutics in a report on Friday, August 2nd. They issued a “buy” rating and a $90.00 target price on the stock. Truist Financial dropped their target price on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $75.63.

CRISPR Therapeutics Stock Down 0.7 %

CRISPR Therapeutics stock opened at $46.98 on Tuesday. The company’s 50-day moving average price is $49.28 and its two-hundred day moving average price is $55.76. CRISPR Therapeutics AG has a twelve month low of $37.55 and a twelve month high of $91.10. The stock has a market cap of $3.99 billion, a P/E ratio of -17.27 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Monday, August 5th. The company reported ($1.49) earnings per share (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 quarter in the previous year, the firm posted ($0.98) EPS. The firm’s quarterly revenue was down 99.3% on a year-over-year basis. Equities analysts anticipate that CRISPR Therapeutics AG will post -5.6 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.