Sumitomo Mitsui Trust Group Inc. Sells 251,163 Shares of CRISPR Therapeutics AG $CRSP

Sumitomo Mitsui Trust Group Inc. lessened its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 10.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,163,675 shares of the company’s stock after selling 251,163 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in CRISPR Therapeutics were worth $140,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CRSP. IVC Wealth Advisors LLC bought a new stake in shares of CRISPR Therapeutics during the 2nd quarter worth about $225,000. Koss Olinger Consulting LLC lifted its position in CRISPR Therapeutics by 29.8% during the second quarter. Koss Olinger Consulting LLC now owns 42,197 shares of the company’s stock worth $2,052,000 after acquiring an additional 9,685 shares during the last quarter. Slow Capital Inc. boosted its holdings in shares of CRISPR Therapeutics by 15.6% during the second quarter. Slow Capital Inc. now owns 75,396 shares of the company’s stock worth $3,667,000 after acquiring an additional 10,152 shares during the period. Legal & General Group Plc grew its position in shares of CRISPR Therapeutics by 59.7% in the second quarter. Legal & General Group Plc now owns 129,567 shares of the company’s stock valued at $6,302,000 after purchasing an additional 48,412 shares during the last quarter. Finally, Intellectus Partners LLC acquired a new position in shares of CRISPR Therapeutics in the second quarter valued at approximately $284,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

Insider Activity

In related news, CEO Samarth Kulkarni sold 50,895 shares of CRISPR Therapeutics stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $67.91, for a total value of $3,456,279.45. Following the transaction, the chief executive officer directly owned 254,201 shares of the company’s stock, valued at $17,262,789.91. This trade represents a 16.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.10% of the company’s stock.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ CRSP opened at $56.18 on Wednesday. The stock has a market capitalization of $5.35 billion, a P/E ratio of -10.05 and a beta of 1.70. The stock’s fifty day moving average is $54.79 and its 200 day moving average is $58.24. CRISPR Therapeutics AG has a 52 week low of $30.04 and a 52 week high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.15. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. The firm had revenue of $0.89 million for the quarter, compared to the consensus estimate of $8.74 million. Equities research analysts forecast that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on CRSP. Wells Fargo & Company set a $75.00 price target on CRISPR Therapeutics in a report on Monday, October 13th. Needham & Company LLC reissued a “buy” rating and set a $80.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, December 23rd. Chardan Capital reduced their target price on shares of CRISPR Therapeutics from $82.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Citizens Jmp reaffirmed a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, December 23rd. Finally, Robert W. Baird dropped their price objective on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, CRISPR Therapeutics has an average rating of “Hold” and an average price target of $68.35.

CRISPR Therapeutics Company 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.