Sumitomo Mitsui Trust Holdings Inc. Lowers Stock Holdings in CRISPR Therapeutics AG (NASDAQ:CRSP)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,268,785 shares of the company’s stock after selling 100,977 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in CRISPR Therapeutics were worth $222,800,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. SeaCrest Wealth Management LLC purchased a new stake in shares of CRISPR Therapeutics in the first quarter valued at $229,000. InTrack Investment Management Inc acquired a new position in shares of CRISPR Therapeutics in the 1st quarter valued at about $522,000. Allspring Global Investments Holdings LLC increased its position in CRISPR Therapeutics by 113.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,924 shares of the company’s stock worth $5,379,000 after purchasing an additional 41,903 shares in the last quarter. Mirador Capital Partners LP purchased a new position in CRISPR Therapeutics in the first quarter valued at approximately $203,000. Finally, SteelPeak Wealth LLC grew its stake in CRISPR Therapeutics by 129.4% during the first quarter. SteelPeak Wealth LLC now owns 10,253 shares of the company’s stock worth $699,000 after buying an additional 5,784 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Stock Up 1.5 %

CRSP opened at $53.90 on Thursday. The business has a fifty day simple moving average of $56.59 and a 200-day simple moving average of $64.33. The firm has a market cap of $4.58 billion, a PE ratio of -19.82 and a beta of 1.70. CRISPR Therapeutics AG has a fifty-two week low of $37.55 and a fifty-two week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $25.53 million. During the same quarter in the prior year, the company earned ($0.67) earnings per share. The company’s quarterly revenue was down 99.5% compared to the same quarter last year. On average, equities research analysts anticipate that CRISPR Therapeutics AG will post -5.51 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CRSP shares. Barclays decreased their price target on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and issued a $88.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, June 27th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 target price on shares of CRISPR Therapeutics in a report on Thursday, May 9th. Oppenheimer lowered their price target on shares of CRISPR Therapeutics from $102.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Finally, Mizuho increased their price target on CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $75.71.

Insider Activity

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 19,582 shares of CRISPR Therapeutics stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the transaction, the chief executive officer now owns 208,122 shares of the company’s stock, valued at approximately $12,468,589.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other CRISPR Therapeutics news, COO Julianne Bruno sold 3,366 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the transaction, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Samarth Kulkarni sold 19,582 shares of CRISPR Therapeutics stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $59.91, for a total value of $1,173,157.62. Following the sale, the chief executive officer now owns 208,122 shares of the company’s stock, valued at $12,468,589.02. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

CRISPR Therapeutics Profile

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.