CRISPR Therapeutics AG (NASDAQ:CRSP) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 20.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,389 shares of the company’s stock after selling 1,419 shares during the period. PNC Financial Services Group Inc.’s holdings in CRISPR Therapeutics were worth $337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRSP. Blue Trust Inc. purchased a new position in CRISPR Therapeutics during the fourth quarter worth about $32,000. Bourgeon Capital Management LLC increased its holdings in CRISPR Therapeutics by 1,000.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. Principal Securities Inc. purchased a new stake in CRISPR Therapeutics in the fourth quarter valued at approximately $41,000. TFC Financial Management Inc. raised its position in CRISPR Therapeutics by 3,400.0% in the fourth quarter. TFC Financial Management Inc. now owns 700 shares of the company’s stock valued at $44,000 after purchasing an additional 680 shares during the period. Finally, Sachetta LLC purchased a new position in shares of CRISPR Therapeutics during the fourth quarter worth $56,000. 69.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CRISPR Therapeutics news, COO Julianne Bruno sold 3,366 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the transaction, the chief operating officer now owns 6,745 shares in the company, valued at $378,327.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Samarth Kulkarni sold 19,582 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 208,122 shares in the company, valued at approximately $12,468,589.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Julianne Bruno sold 3,366 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $56.09, for a total transaction of $188,798.94. Following the transaction, the chief operating officer now directly owns 6,745 shares in the company, valued at $378,327.05. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CRSP. JMP Securities reiterated a “market outperform” rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a report on Thursday, May 9th. Barclays dropped their price objective on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Oppenheimer reduced their target price on shares of CRISPR Therapeutics from $102.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Piper Sandler restated an “overweight” rating and issued a $105.00 price target on shares of CRISPR Therapeutics in a research note on Monday, June 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $88.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $75.71.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ CRSP opened at $54.01 on Friday. The stock’s 50-day simple moving average is $56.72 and its 200-day simple moving average is $64.51. The firm has a market capitalization of $4.59 billion, a PE ratio of -19.86 and a beta of 1.78. 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 released its quarterly earnings data 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 business had revenue of $0.50 million for the quarter, compared to the consensus estimate of $25.53 million. During the same quarter in the prior year, the firm posted ($0.67) earnings per share. The company’s quarterly revenue was down 99.5% compared to the same quarter last year. On average, sell-side analysts forecast that CRISPR Therapeutics AG will post -5.51 earnings per share for the current fiscal year.

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.