CRISPR Therapeutics AG $CRSP Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 9.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,958,111 shares of the company’s stock after selling 205,564 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CRISPR Therapeutics were worth $102,683,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd grew its stake in shares of CRISPR Therapeutics by 76.9% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock valued at $134,467,000 after purchasing an additional 1,201,600 shares during the last quarter. SR One Capital Management LP lifted its holdings in shares of CRISPR Therapeutics by 94.4% in the 3rd quarter. SR One Capital Management LP now owns 2,038,763 shares of the company’s stock valued at $132,132,000 after buying an additional 989,812 shares during the period. State Street Corp lifted its holdings in shares of CRISPR Therapeutics by 35.6% in the 2nd quarter. State Street Corp now owns 3,270,596 shares of the company’s stock valued at $159,082,000 after buying an additional 859,334 shares during the period. JPMorgan Chase & Co. raised its holdings in CRISPR Therapeutics by 98.3% during the third quarter. JPMorgan Chase & Co. now owns 593,416 shares of the company’s stock worth $38,459,000 after purchasing an additional 294,222 shares during the last quarter. Finally, O Neil Global Advisors Inc. acquired a new position in CRISPR Therapeutics during the third quarter worth $10,934,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Stock Up 7.0%

CRSP opened at $54.83 on Tuesday. The firm has a market cap of $5.26 billion, a PE ratio of -8.41 and a beta of 1.80. The business has a fifty day simple moving average of $51.49 and a 200-day simple moving average of $56.10. CRISPR Therapeutics AG has a fifty-two week low of $33.03 and a fifty-two week high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Friday, February 13th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.22). The business had revenue of $0.86 million during the quarter, compared to analysts’ expectations of $4.72 million. CRISPR Therapeutics had a negative net margin of 16,569.77% and a negative return on equity of 26.31%. CRISPR Therapeutics’s revenue for the quarter was down 97.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.01) EPS. On average, equities research analysts anticipate that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CRSP shares. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective (up from $105.00) on shares of CRISPR Therapeutics in a research report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday, January 21st. Morgan Stanley reaffirmed an “underweight” rating and issued a $33.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, February 17th. Bank of America reduced their price target on CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Finally, Truist Financial raised CRISPR Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, CRISPR Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $64.53.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 60,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $60.23, for a total transaction of $3,613,800.00. Following the transaction, the chief executive officer directly owned 134,201 shares in the company, valued at $8,082,926.23. This trade represents a 30.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Naimish Patel sold 3,150 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $48.26, for a total value of $152,019.00. Following the completion of the sale, the insider directly owned 13,143 shares in the company, valued at approximately $634,281.18. This represents a 19.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 141,828 shares of company stock worth $7,744,397 over the last three months. Corporate insiders own 4.30% of the company’s stock.

CRISPR Therapeutics Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.