Wells Fargo & Company MN Buys 17,094 Shares of CRISPR Therapeutics AG (NASDAQ:CRSP)

Wells Fargo & Company MN increased its stake in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 220,123 shares of the company's stock after purchasing an additional 17,094 shares during the quarter. Wells Fargo & Company MN owned approximately 0.26% of CRISPR Therapeutics worth $8,664,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CRSP. ARK Investment Management LLC boosted its holdings in CRISPR Therapeutics by 19.7% in the 4th quarter. ARK Investment Management LLC now owns 8,973,064 shares of the company's stock worth $353,180,000 after buying an additional 1,474,439 shares during the period. Norges Bank purchased a new stake in shares of CRISPR Therapeutics during the fourth quarter worth $17,458,000. Contrarius Group Holdings Ltd bought a new position in shares of CRISPR Therapeutics in the fourth quarter worth $14,516,000. Raymond James Financial Inc. purchased a new position in shares of CRISPR Therapeutics in the fourth quarter valued at $3,231,000. Finally, Van ECK Associates Corp raised its stake in shares of CRISPR Therapeutics by 5,269.3% during the 4th quarter. Van ECK Associates Corp now owns 83,010 shares of the company's stock valued at $3,267,000 after purchasing an additional 81,464 shares during the period. Hedge funds and other institutional investors own 69.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CRSP shares. Citigroup reduced their target price on CRISPR Therapeutics from $89.00 to $82.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. HC Wainwright reaffirmed a "buy" rating and set a $65.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Cantor Fitzgerald reiterated a "neutral" rating on shares of CRISPR Therapeutics in a research note on Wednesday, February 19th. Stifel Nicolaus decreased their price target on shares of CRISPR Therapeutics from $53.00 to $49.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Finally, StockNews.com raised CRISPR Therapeutics to a "sell" rating in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $73.11.

CRISPR Therapeutics Stock Performance

CRSP stock opened at $37.77 on Friday. The firm has a market cap of $3.24 billion, a P/E ratio of -8.64 and a beta of 1.85. The firm's fifty day moving average is $40.97 and its 200 day moving average is $43.81. CRISPR Therapeutics AG has a 52 week low of $30.04 and a 52 week high of $67.88.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) 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 forecast that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Insiders Place Their Bets

In other news, Director John Greene purchased 7,000 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were acquired at an average price of $44.85 per share, with a total value of $313,950.00. Following the acquisition, the director now directly owns 7,000 shares in the company, valued at approximately $313,950. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Samarth Kulkarni sold 18,360 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 171,613 shares in the company, valued at $9,473,037.60. The trade was a 9.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,381 shares of company stock valued at $1,608,243 in the last ninety days. Company 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.

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