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

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in CRISPR Therapeutics AG (NASDAQ:CRSP) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,268,785 shares of the company’s stock after selling 100,977 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 3.85% of CRISPR Therapeutics worth $222,800,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

CRSP has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $88.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, June 27th. Wells Fargo & Company dropped their price objective on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Mizuho raised their target price on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Robert W. Baird lifted their target price on CRISPR Therapeutics from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $105.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $75.71.

CRISPR Therapeutics Price Performance

NASDAQ CRSP opened at $53.90 on Thursday. CRISPR Therapeutics AG has a 1 year low of $37.55 and a 1 year high of $91.10. The company has a market capitalization of $4.58 billion, a PE ratio of -19.82 and a beta of 1.70. The company has a fifty day moving average of $56.59 and a 200 day moving average of $64.33.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The firm had revenue of $0.50 million during the quarter, compared to analyst estimates of $25.53 million. The firm’s revenue for the quarter was down 99.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.67) earnings per share. Research analysts expect that CRISPR Therapeutics AG will post -5.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Samarth Kulkarni sold 19,582 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the completion of the transaction, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at approximately $12,468,589.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Julianne Bruno sold 3,366 shares of the company’s stock in a transaction that occurred 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 completion of 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 filing with the SEC, which is available at this link. Also, CEO Samarth Kulkarni sold 19,582 shares of CRISPR Therapeutics stock in a transaction on Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the completion of the sale, the chief executive officer now directly owns 208,122 shares in the company, valued at approximately $12,468,589.02. The disclosure for this sale can be found here. Insiders own 4.10% 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.