Farallon Capital Management LLC Takes Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Farallon Capital Management LLC acquired a new position in CRISPR Therapeutics AG (NASDAQ:CRSP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 530,000 shares of the company’s stock, valued at approximately $28,625,000. Farallon Capital Management LLC owned 0.62% of CRISPR Therapeutics at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CRSP. Riggs Asset Managment Co. Inc. grew its position in shares of CRISPR Therapeutics by 66.7% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. SFE Investment Counsel boosted its position in CRISPR Therapeutics by 3.6% during the 2nd quarter. SFE Investment Counsel now owns 5,846 shares of the company’s stock valued at $316,000 after purchasing an additional 203 shares during the period. Orion Capital Management LLC lifted its stake in CRISPR Therapeutics by 44.0% in the first quarter. Orion Capital Management LLC now owns 720 shares of the company’s stock valued at $49,000 after buying an additional 220 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of CRISPR Therapeutics by 35.0% during the second quarter. National Bank of Canada FI now owns 848 shares of the company’s stock valued at $46,000 after acquiring an additional 220 shares during the period. Finally, Larson Financial Group LLC lifted its position in CRISPR Therapeutics by 95.5% in the 2nd quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock valued at $31,000 after purchasing an additional 276 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Needham & Company LLC reduced their price objective on CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Stifel Nicolaus reduced their price target on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Cantor Fitzgerald reissued a “neutral” rating on shares of CRISPR Therapeutics in a report on Thursday, August 8th. Barclays reduced their price objective on shares of CRISPR Therapeutics from $67.00 to $59.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Finally, Truist Financial lowered their target price on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $75.63.

CRISPR Therapeutics Price Performance

Shares of CRSP opened at $46.74 on Tuesday. CRISPR Therapeutics AG has a one year low of $37.55 and a one year high of $91.10. The company has a 50-day moving average of $50.23 and a two-hundred day moving average of $56.60. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -17.18 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Monday, August 5th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate 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. The business’s quarterly revenue was down 99.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.98) EPS. Analysts anticipate that CRISPR Therapeutics AG will post -5.6 earnings per share for the current year.

About CRISPR Therapeutics

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.