443,536 Shares in CRISPR Therapeutics AG (NASDAQ:CRSP) Bought by Norges Bank

Norges Bank bought a new stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 443,536 shares of the company's stock, valued at approximately $17,458,000. Norges Bank owned approximately 0.52% of CRISPR Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CRSP. Wilmington Savings Fund Society FSB bought a new position in CRISPR Therapeutics in the third quarter worth about $40,000. Highline Wealth Partners LLC acquired a new position in shares of CRISPR Therapeutics during the fourth quarter valued at $39,000. Western Pacific Wealth Management LP raised its position in shares of CRISPR Therapeutics by 100.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company's stock worth $39,000 after buying an additional 500 shares in the last quarter. Spire Wealth Management lifted its position in CRISPR Therapeutics by 303.7% in the fourth quarter. Spire Wealth Management now owns 1,970 shares of the company's stock worth $78,000 after purchasing an additional 1,482 shares during the period. Finally, MCF Advisors LLC bought a new position in CRISPR Therapeutics during the fourth quarter valued at about $80,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRSP has been the subject of a number of recent analyst reports. Evercore ISI upgraded CRISPR Therapeutics from an "in-line" rating to an "outperform" rating and increased their price target for the company from $60.00 to $99.00 in a research report on Friday, February 14th. StockNews.com raised CRISPR Therapeutics to a "sell" rating in a research report on Friday, March 21st. Chardan Capital dropped their price target on CRISPR Therapeutics from $94.00 to $84.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Barclays boosted their price objective on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Finally, Truist Financial increased their price objective on CRISPR Therapeutics from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, CRISPR Therapeutics currently has a consensus rating of "Hold" and an average price target of $73.11.

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CRISPR Therapeutics Stock Up 14.7 %

Shares of CRSP traded up $5.04 during midday trading on Friday, reaching $39.30. 3,645,107 shares of the stock were exchanged, compared to its average volume of 1,622,765. CRISPR Therapeutics AG has a twelve month low of $30.04 and a twelve month high of $67.88. The company has a market cap of $3.37 billion, a P/E ratio of -8.99 and a beta of 1.85. The stock's 50 day simple moving average is $41.14 and its 200 day simple moving average is $44.03.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, beating analysts' consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. As a group, analysts predict that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Insider Activity at CRISPR Therapeutics

In related news, General Counsel James R. Kasinger sold 2,850 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $120,897.00. Following the transaction, the general counsel now directly owns 77,530 shares of the company's stock, valued at $3,288,822.60. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 18,360 shares of CRISPR Therapeutics stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total transaction of $1,013,472.00. Following the completion of the sale, the chief executive officer now directly owns 171,613 shares of the company's stock, valued at approximately $9,473,037.60. This trade represents a 9.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,381 shares of company stock worth $1,608,243 over the last ninety days. Insiders own 4.10% of the company's stock.

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.