Sumitomo Mitsui Trust Group Inc. Reduces Stake in CRISPR Therapeutics AG $CRSP

Sumitomo Mitsui Trust Group Inc. reduced its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 4.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,414,838 shares of the company’s stock after selling 125,051 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CRISPR Therapeutics were worth $117,458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRSP. SVB Wealth LLC bought a new stake in CRISPR Therapeutics in the first quarter valued at $25,000. Costello Asset Management INC bought a new stake in shares of CRISPR Therapeutics during the 1st quarter valued at about $27,000. IFP Advisors Inc boosted its stake in shares of CRISPR Therapeutics by 24.6% during the 2nd quarter. IFP Advisors Inc now owns 916 shares of the company’s stock valued at $45,000 after purchasing an additional 181 shares in the last quarter. Quantbot Technologies LP increased its position in shares of CRISPR Therapeutics by 272.4% during the first quarter. Quantbot Technologies LP now owns 1,337 shares of the company’s stock valued at $45,000 after buying an additional 978 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in CRISPR Therapeutics by 1,923.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,841 shares of the company’s stock worth $90,000 after buying an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Stock Performance

NASDAQ:CRSP opened at $67.61 on Friday. The firm has a market cap of $6.15 billion, a P/E ratio of -12.45 and a beta of 1.84. CRISPR Therapeutics AG has a fifty-two week low of $30.04 and a fifty-two week high of $78.48. The firm has a 50-day simple moving average of $61.62 and a two-hundred day simple moving average of $51.41.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Monday, August 4th. The company reported ($1.29) EPS for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.18. The firm had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $6.44 million. CRISPR Therapeutics had a negative net margin of 1,229.43% and a negative return on equity of 20.05%. The business’s revenue for the quarter was up 72.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.49) earnings per share. On average, equities research analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

Analysts Set New Price Targets

CRSP has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Tuesday, September 23rd. Zacks Research raised CRISPR Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Needham & Company LLC reiterated a “buy” rating and issued a $81.00 price objective on shares of CRISPR Therapeutics in a report on Friday, October 10th. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Friday. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $82.00 target price on shares of CRISPR Therapeutics in a research report on Tuesday, August 5th. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $72.59.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,076 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total transaction of $71,661.60. Following the sale, the general counsel directly owned 83,402 shares in the company, valued at approximately $5,554,573.20. This trade represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Samarth Kulkarni sold 50,895 shares of the business’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $67.91, for a total value of $3,456,279.45. Following the completion of the transaction, the chief executive officer owned 254,201 shares of the company’s stock, valued at $17,262,789.91. This represents a 16.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,213 shares of company stock worth $3,810,458. Company insiders own 4.30% of the company’s stock.

About CRISPR Therapeutics

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.