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Investing.com -- CRISPR Therapeutics AG (NASDAQ:CRSP) stock surged over 16% on Friday, hitting a 52-week high after a company director made a substantial purchase of shares.
Board Director Simeon George disclosed in a Securities and Exchange Commission filing that he acquired approximately $51.5 million worth of the company’s stock. According to the regulatory document, George purchased a total of 989,812 common shares at a price of $52.03 per share on July 16.
The purchases were made through various investment vehicles. The filing shows George bought 6,510 shares through SR One Capital Fund II Aggregator, 22,319 shares via SR One Capital Opportunities Fund I, and 960,983 shares through AMZL, LP. All these entities are connected to SR One Capital Management, where George serves as the sole managing member.
This significant insider purchase comes as CRISPR Therapeutics continues to develop gene-editing therapies. The stock reached new highs following the disclosure, reflecting increased investor confidence following the director’s substantial investment.
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