State Board of Administration of Florida Retirement System Acquires New Holdings in CRISPR Therapeutics AG $CRSP

State Board of Administration of Florida Retirement System bought a new position in CRISPR Therapeutics AG (NASDAQ:CRSP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,361 shares of the company’s stock, valued at approximately $1,039,000.

Several other hedge funds also recently modified their holdings of CRSP. IVC Wealth Advisors LLC bought a new stake in CRISPR Therapeutics in the second quarter worth $225,000. Koss Olinger Consulting LLC lifted its position in shares of CRISPR Therapeutics by 29.8% in the second quarter. Koss Olinger Consulting LLC now owns 42,197 shares of the company’s stock worth $2,052,000 after buying an additional 9,685 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CRISPR Therapeutics by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company’s stock worth $60,223,000 after acquiring an additional 33,711 shares in the last quarter. Slow Capital Inc. increased its holdings in shares of CRISPR Therapeutics by 15.6% during the 2nd quarter. Slow Capital Inc. now owns 75,396 shares of the company’s stock valued at $3,667,000 after acquiring an additional 10,152 shares during the last quarter. Finally, Intellectus Partners LLC bought a new position in shares of CRISPR Therapeutics in the 2nd quarter valued at approximately $284,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

CRISPR Therapeutics Trading Down 2.2%

Shares of CRSP stock opened at $56.88 on Friday. The firm has a market capitalization of $5.42 billion, a P/E ratio of -10.18 and a beta of 1.74. CRISPR Therapeutics AG has a 1 year low of $30.04 and a 1 year high of $78.48. The firm’s fifty day simple moving average is $61.29 and its 200 day simple moving average is $55.34.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Monday, November 10th. The company reported ($1.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.15. The firm had revenue of $0.89 million during the quarter, compared to the consensus estimate of $8.74 million. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. Equities research analysts anticipate that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CRSP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, September 23rd. Robert W. Baird lowered their target price on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Citigroup reiterated a “buy” rating and issued a $77.00 target price (down previously from $87.00) on shares of CRISPR Therapeutics in a report on Tuesday, November 11th. Finally, Wedbush decreased their price target on shares of CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, CRISPR Therapeutics currently has an average rating of “Hold” and a consensus target price of $67.42.

Insider Activity

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 50,895 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $67.91, for a total value of $3,456,279.45. Following the completion of the transaction, the chief executive officer owned 254,201 shares of the company’s stock, valued at $17,262,789.91. This represents a 16.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel James R. Kasinger sold 1,076 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total value of $71,661.60. Following the completion of the sale, the general counsel owned 83,402 shares of the company’s stock, valued at $5,554,573.20. This represents a 1.27% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 56,213 shares of company stock valued at $3,810,458. 4.30% of the stock is owned by corporate insiders.

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.