Vestmark Advisory Solutions Inc. Sells 18,728 Shares of CRISPR Therapeutics AG $CRSP

Key Points

• Vestmark Advisory Solutions Inc. has reduced its position in CRISPR Therapeutics AG by 7.7%, now holding approximately 0.26% of the company, valued at $7.67 million.
• Director Simeon George significantly increased his ownership by purchasing 989,812 shares for about $51.5 million, representing a 133.69% increase in his position.
• CRISPR Therapeutics reported earnings per share of ($1.29), surpassing analysts' estimates, but had revenues of only $0.89 million, compared to an expectation of $6.44 million.

Vestmark Advisory Solutions Inc. cut its stake in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 7.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,306 shares of the company's stock after selling 18,728 shares during the period. Vestmark Advisory Solutions Inc. owned about 0.26% of CRISPR Therapeutics worth $7,667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CRSP. ARK Investment Management LLC increased its position in shares of CRISPR Therapeutics by 13.3% during the 1st quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company's stock worth $345,929,000 after purchasing an additional 1,192,336 shares in the last quarter. Capital International Investors increased its stake in shares of CRISPR Therapeutics by 10.3% in the 4th quarter. Capital International Investors now owns 8,743,523 shares of the company's stock valued at $344,145,000 after buying an additional 816,789 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in CRISPR Therapeutics by 39.2% during the 4th 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 holdings in CRISPR Therapeutics by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company's stock valued at $60,223,000 after buying an additional 33,711 shares during the period. Finally, Baker BROS. Advisors LP lifted its stake in shares of CRISPR Therapeutics by 55.1% in the 4th quarter. Baker BROS. Advisors LP now owns 1,308,011 shares of the company's stock valued at $51,483,000 after purchasing an additional 464,936 shares during the period. Institutional investors own 69.20% of the company's stock.

CRISPR Therapeutics Trading Down 4.1%

Shares of NASDAQ:CRSP traded down $2.2090 on Wednesday, hitting $51.9510. The company had a trading volume of 783,801 shares, compared to its average volume of 2,614,443. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -9.56 and a beta of 1.80. The stock has a 50 day moving average price of $54.03 and a 200 day moving average price of $44.64. CRISPR Therapeutics AG has a 1-year low of $30.04 and a 1-year high of $71.13.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported ($1.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.47) by $0.18. CRISPR Therapeutics had a negative net margin of 1,229.43% and a negative return on equity of 20.05%. The company had revenue of $0.89 million during the quarter, compared to analysts' expectations of $6.44 million. During the same quarter last year, the company posted ($1.49) EPS. CRISPR Therapeutics's quarterly revenue was up 72.5% compared to the same quarter last year. Sell-side analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Simeon George bought 989,812 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were bought at an average price of $52.03 per share, with a total value of $51,499,918.36. Following the completion of the transaction, the director owned 1,730,179 shares of the company's stock, valued at $90,021,213.37. This trade represents a 133.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Naimish Patel sold 3,932 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $35.94, for a total value of $141,316.08. Following the transaction, the insider owned 6,068 shares in the company, valued at approximately $218,083.92. This trade represents a 39.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of CRISPR Therapeutics from $42.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Wall Street Zen raised shares of CRISPR Therapeutics to a "sell" rating in a research report on Friday, May 16th. Needham & Company LLC reiterated a "buy" rating and issued a $81.00 price target on shares of CRISPR Therapeutics in a research note on Tuesday, July 8th. The Goldman Sachs Group cut their price target on shares of CRISPR Therapeutics from $53.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Chardan Capital restated a "buy" rating and issued a $82.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, August 5th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, CRISPR Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $71.60.

CRISPR Therapeutics 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.