Allianz Asset Management GmbH lifted its position in shares of CRISPR Therapeutics (NASDAQ:CRSP) by 74.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 232,060 shares of the company’s stock after acquiring an additional 98,690 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.51% of CRISPR Therapeutics worth $5,449,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in CRISPR Therapeutics by 459.7% in the second quarter. Wells Fargo & Company MN now owns 7,987 shares of the company’s stock valued at $128,000 after purchasing an additional 6,560 shares during the last quarter. Ark Investment Management LLC bought a new stake in CRISPR Therapeutics in the second quarter valued at about $206,000. Creative Planning bought a new stake in CRISPR Therapeutics in the fourth quarter valued at about $243,000. Vanguard Group Inc. bought a new stake in CRISPR Therapeutics in the second quarter valued at about $273,000. Finally, Bank of New York Mellon Corp bought a new stake in CRISPR Therapeutics in the third quarter valued at about $288,000. Institutional investors own 26.61% of the company’s stock.
In other news, insider Tyler Dylan-Hyde sold 66,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $28.03, for a total transaction of $1,849,980.00. Following the completion of the transaction, the insider now directly owns 25,204 shares of the company’s stock, valued at $706,468.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 39.98% of the stock is owned by corporate insiders.
Shares of CRSP stock traded up $0.60 on Friday, hitting $43.27. 2,772,637 shares of the stock were exchanged, compared to its average volume of 1,142,825. The stock has a market capitalization of $2,040.92, a P/E ratio of -25.30 and a beta of 3.56. CRISPR Therapeutics has a fifty-two week low of $13.50 and a fifty-two week high of $61.24.
A number of equities research analysts recently commented on CRSP shares. Cann reiterated a “hold” rating on shares of CRISPR Therapeutics in a report on Sunday, December 10th. Oppenheimer restated a “hold” rating on shares of CRISPR Therapeutics in a report on Thursday, December 21st. Piper Jaffray initiated coverage on CRISPR Therapeutics in a report on Friday, December 22nd. They issued an “overweight” rating for the company. BidaskClub upgraded CRISPR Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. Finally, SunTrust Banks upgraded CRISPR Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. CRISPR Therapeutics presently has an average rating of “Buy” and a consensus price target of $63.95.
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CRISPR Therapeutics Company Profile
CRISPR Therapeutics AG, a gene editing company, focuses on developing transformative gene-based medicines for the treatment of serious human diseases using its regularly interspaced short palindromic repeats associated protein-9 (CRISPR/Cas9) gene-editing platform in Switzerland. Its lead product candidate is CTX001, which targets sickle cell disease and beta-thalassemia with an ex vivo approach whereby cells are harvested from a patient, treated with a CRISPR/Cas9-based therapeutic and reintroduced into the patient.
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