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

Sumitomo Mitsui Trust Group Inc. cut its stake in CRISPR Therapeutics AG (NASDAQ:CRSP) by 15.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,453,713 shares of the company’s stock after selling 267,021 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CRISPR Therapeutics were worth $80,419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Swiss National Bank increased its stake in CRISPR Therapeutics by 5.1% in the 1st quarter. Swiss National Bank now owns 169,700 shares of the company’s stock valued at $8,073,000 after purchasing an additional 8,200 shares in the last quarter. Affinity Asset Advisors LLC purchased a new stake in CRISPR Therapeutics during the first quarter worth $7,136,000. Congress Asset Management Co. boosted its position in CRISPR Therapeutics by 1.6% during the third quarter. Congress Asset Management Co. now owns 111,230 shares of the company’s stock worth $6,153,000 after purchasing an additional 1,777 shares in the last quarter. KBC Group NV raised its stake in shares of CRISPR Therapeutics by 3,999.9% during the 1st quarter. KBC Group NV now owns 116,847 shares of the company’s stock worth $5,558,000 after buying an additional 113,997 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of CRISPR Therapeutics by 29.6% in the 1st quarter. California State Teachers Retirement System now owns 101,232 shares of the company’s stock worth $4,816,000 after buying an additional 23,109 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Simeon George sold 14,514 shares of the firm’s stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $49.63, for a total transaction of $720,329.82. Following the sale, the director owned 15,486 shares in the company, valued at approximately $768,570.18. This trade represents a 48.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ali Behbahani sold 13,679 shares of CRISPR Therapeutics stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $57.09, for a total transaction of $780,934.11. Following the completion of the sale, the director directly owned 16,637 shares of the company’s stock, valued at $949,806.33. The trade was a 45.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 93,558 shares of company stock worth $4,881,663. Corporate insiders own 5.20% of the company’s stock.

CRISPR Therapeutics News Summary

Here are the key news stories impacting CRISPR Therapeutics this week:

• Positive Sentiment: Casgevy continued to gain traction: the company reported $99 million in third-quarter Casgevy revenue, up 30% from the prior quarter and nearly sixfold year over year. The treatment also received pediatric approvals in the U.K., UAE and Bahrain, expanding its potential patient reach. Company Q3 business update
• Positive Sentiment: CRISPR Therapeutics said the FDA granted RMAT designations to CTX310, with early clinical data expected at an upcoming medical meeting. The company also reported progress in other programs, including completed enrollment in a Phase 2 CTX611 trial. These developments provide potential future catalysts, though clinical outcomes remain uncertain. Company Q3 business update
• Positive Sentiment: Needham reaffirmed its “Buy” rating and set an $82 price target, signaling analyst confidence in potential upside. Needham rating
• Neutral Sentiment: The company appointed Siva Sakhamuri as Chief Technical Officer. His manufacturing and technical-operations experience could support development and commercialization, but the appointment’s financial impact is not yet clear. CTO appointment
• Negative Sentiment: CRISPR Therapeutics reported a third-quarter loss of $1.15 per share, wider than the $1.06 loss analysts expected. Reported revenue of $12.67 million also missed estimates of about $14.75 million, despite the sharp year-over-year increase. The earnings shortfall may temper optimism around Casgevy’s growth. Q3 results coverage

CRISPR Therapeutics Stock Performance

Shares of CRSP stock opened at $49.99 on Wednesday. The firm has a 50-day moving average price of $53.86 and a 200 day moving average price of $52.85. CRISPR Therapeutics AG has a twelve month low of $44.12 and a twelve month high of $63.45. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of -10.55 and a beta of 1.92. The company has a current ratio of 17.85, a quick ratio of 17.85 and a debt-to-equity ratio of 0.34.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Monday, November 2nd. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.09). CRISPR Therapeutics had a negative net margin of 1,812.07% and a negative return on equity of 24.96%. The firm had revenue of $12.67 million during the quarter, compared to analysts’ expectations of $14.75 million. The business’s revenue for the quarter was up 1311.1% on a year-over-year basis. Research analysts forecast that CRISPR Therapeutics AG will post -4.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CRSP has been the subject of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 target price on shares of CRISPR Therapeutics in a research report on Thursday, August 6th. Citigroup reiterated a “market outperform” rating on shares of CRISPR Therapeutics in a research report on Tuesday. Citizens Jmp reissued a “market outperform” rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a research note on Monday, August 31st. HC Wainwright restated a “buy” rating on shares of CRISPR Therapeutics in a research report on Friday, October 9th. Finally, William Blair raised CRISPR Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.75.

About CRISPR Therapeutics

CRISPR Therapeutics AG (NASDAQ: CRSP) is a biotechnology company focused on developing transformative gene-based medicines using CRISPR/Cas9 gene-editing technology. The company’s research programs are designed to address genetic diseases by precisely modifying DNA in cells, with applications across hematology, immunology, oncology, regenerative medicine and cardiovascular disease.

Its lead commercial product is CASGEVY, an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals.