CRISPR Therapeutics AG $CRSP Stake Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,853,875 shares of the company’s stock after selling 104,236 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CRISPR Therapeutics were worth $88,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRSP. ARK Investment Management LLC raised its stake in shares of CRISPR Therapeutics by 7.5% in the 4th quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock worth $551,777,000 after buying an additional 735,084 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in CRISPR Therapeutics by 19.4% during the fourth quarter. Orbis Allan Gray Ltd now owns 5,950,145 shares of the company’s stock valued at $312,026,000 after buying an additional 968,060 shares in the last quarter. Capital International Investors boosted its stake in CRISPR Therapeutics by 4.3% during the fourth quarter. Capital International Investors now owns 5,892,745 shares of the company’s stock valued at $309,016,000 after buying an additional 243,487 shares in the last quarter. State Street Corp grew its holdings in CRISPR Therapeutics by 35.6% during the second quarter. State Street Corp now owns 3,270,596 shares of the company’s stock worth $159,082,000 after acquiring an additional 859,334 shares during the period. Finally, GSK plc acquired a new position in CRISPR Therapeutics during the fourth quarter worth about $168,890,000. Institutional investors own 69.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $80.00 price target on shares of CRISPR Therapeutics in a report on Monday, July 6th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday. UBS Group set a $80.00 target price on shares of CRISPR Therapeutics in a research note on Friday, June 12th. Piper Sandler restated an “overweight” rating and set a $110.00 target price (up from $105.00) on shares of CRISPR Therapeutics in a report on Tuesday, March 17th. Finally, Evercore restated an “outperform” rating and issued a $76.00 price target on shares of CRISPR Therapeutics in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $67.78.

Insider Transactions at CRISPR Therapeutics

In other news, insider Naimish Patel sold 3,786 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $55.62, for a total value of $210,577.32. Following the completion of the sale, the insider owned 19,357 shares in the company, valued at $1,076,636.34. This represents a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.30% of the stock is currently owned by company insiders.

CRISPR Therapeutics Trading Down 5.3%

Shares of CRSP stock traded down $2.99 during trading hours on Friday, reaching $53.35. 2,069,985 shares of the stock traded hands, compared to its average volume of 1,550,007. CRISPR Therapeutics AG has a 1-year low of $44.12 and a 1-year high of $78.48. The business has a fifty day moving average price of $53.46 and a 200 day moving average price of $53.17. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $5.15 billion, a PE ratio of -8.58 and a beta of 1.71.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($1.28) EPS for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. The firm had revenue of $1.46 million during the quarter. On average, equities research analysts forecast that CRISPR Therapeutics AG will post -4.89 EPS for the current year.

About CRISPR Therapeutics

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.