CRISPR Therapeutics AG $CRSP Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,853,875 shares of the company’s stock after selling 104,236 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 1.92% of CRISPR Therapeutics worth $88,189,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. UBS Group AG raised its holdings in shares of CRISPR Therapeutics by 7.7% during the fourth quarter. UBS Group AG now owns 2,524,144 shares of the company’s stock worth $132,366,000 after purchasing an additional 180,580 shares during the period. Clough Capital Partners L P acquired a new position in shares of CRISPR Therapeutics in the 3rd quarter valued at about $1,491,000. Norges Bank acquired a new position in shares of CRISPR Therapeutics in the 4th quarter valued at about $25,706,000. Leonteq Securities AG bought a new stake in shares of CRISPR Therapeutics during the 4th quarter valued at about $1,155,000. Finally, Wealth Enhancement Trust Services Inc. bought a new stake in shares of CRISPR Therapeutics during the 4th quarter valued at about $2,032,000. Institutional investors own 69.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Citizens Jmp reiterated a “market outperform” rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a research note on Monday, July 6th. Citigroup reaffirmed a “market outperform” rating on shares of CRISPR Therapeutics in a report on Wednesday, May 27th. UBS Group set a $80.00 price target on CRISPR Therapeutics in a research report on Friday, June 12th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of CRISPR Therapeutics in a report on Wednesday. Finally, Truist Financial upgraded CRISPR Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, CRISPR Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $67.78.

CRISPR Therapeutics Stock Performance

NASDAQ CRSP traded down $2.99 on Friday, hitting $53.35. The stock had a trading volume of 2,069,985 shares, compared to its average volume of 1,550,007. The company’s 50-day moving average is $53.46 and its two-hundred day moving average is $53.17. CRISPR Therapeutics AG has a one year low of $44.12 and a one year high of $78.48. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of -8.58 and a beta of 1.71. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($1.28) earnings per share (EPS) for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%.The business had revenue of $1.46 million for the quarter. On average, analysts expect that CRISPR Therapeutics AG will post -4.89 earnings per share for the current year.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,786 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $55.62, for a total transaction of $210,577.32. Following the completion of the transaction, the insider owned 19,357 shares in the company, valued at approximately $1,076,636.34. The trade was a 16.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 4.30% of the company’s stock.

About CRISPR Therapeutics

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 ?-thalassemia in collaboration with Vertex Pharmaceuticals.