CRISPR Therapeutics AG (NASDAQ:CRSP) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 44.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,042 shares of the company's stock after selling 12,037 shares during the period. Cresset Asset Management LLC's holdings in CRISPR Therapeutics were worth $592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC boosted its stake in shares of CRISPR Therapeutics by 19.7% during the fourth quarter. ARK Investment Management LLC now owns 8,973,064 shares of the company's stock valued at $353,180,000 after purchasing an additional 1,474,439 shares during the period. Capital International Investors raised its position in CRISPR Therapeutics by 10.3% during the fourth quarter. Capital International Investors now owns 8,743,523 shares of the company's stock valued at $344,145,000 after purchasing an additional 816,789 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of CRISPR Therapeutics by 39.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company's stock worth $150,029,000 after purchasing an additional 1,074,238 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of CRISPR Therapeutics by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,735,998 shares of the company's stock worth $68,329,000 after purchasing an additional 10,579 shares during the last quarter. Finally, Baker BROS. Advisors LP lifted its stake in CRISPR Therapeutics by 55.1% during the 4th quarter. Baker BROS. Advisors LP now owns 1,308,011 shares of the company's stock valued at $51,483,000 after acquiring an additional 464,936 shares during the period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their target price on CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Truist Financial upped their price objective on shares of CRISPR Therapeutics from $100.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Evercore ISI raised CRISPR Therapeutics from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $60.00 to $99.00 in a report on Friday, February 14th. Chardan Capital cut their price target on CRISPR Therapeutics from $84.00 to $82.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Cantor Fitzgerald reissued a "neutral" rating on shares of CRISPR Therapeutics in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics currently has a consensus rating of "Hold" and an average target price of $71.75.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 18,360 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total value of $1,013,472.00. Following the sale, the chief executive officer now owns 171,613 shares of the company's stock, valued at $9,473,037.60. This trade represents a 9.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 2,850 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $42.42, for a total value of $120,897.00. Following the completion of the transaction, the general counsel now directly owns 77,530 shares of the company's stock, valued at approximately $3,288,822.60. This trade represents a 3.55% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,381 shares of company stock valued at $1,608,243. 4.30% of the stock is currently owned by corporate insiders.

CRISPR Therapeutics Stock Down 2.3%

NASDAQ:CRSP traded down $0.90 during mid-day trading on Monday, reaching $37.87. 515,587 shares of the stock were exchanged, compared to its average volume of 1,675,316. The stock has a market capitalization of $3.27 billion, a P/E ratio of -8.66 and a beta of 1.88. The company has a 50 day simple moving average of $37.50 and a 200-day simple moving average of $42.33. CRISPR Therapeutics AG has a 1 year low of $30.04 and a 1 year high of $67.88.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. During the same period in the previous year, the company earned ($1.43) EPS. The business's revenue for the quarter was up 71.6% on a year-over-year basis. As a group, research analysts predict that CRISPR Therapeutics AG will post -5.16 EPS for the current year.

CRISPR Therapeutics Company 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.