CRISPR Therapeutics AG (NASDAQ:CRSP) Shares Sold by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. has decreased its stake in CRISPR Therapeutics AG by 7.5%, selling 205,787 shares and now holding 2,539,889 shares of the company.
• Several hedge funds have adjusted their positions in CRISPR Therapeutics, with Baker BROS. Advisors LP increasing their stake by 55.1% to own 1,308,011 shares valued at approximately $51.5 million.
• CRISPR Therapeutics' stock has a current average price target of $71.31, with ratings varying among analysts, including two sell ratings and ten buy ratings.

Nikko Asset Management Americas Inc. decreased its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,539,889 shares of the company's stock after selling 205,787 shares during the quarter. CRISPR Therapeutics comprises approximately 1.1% of Nikko Asset Management Americas Inc.'s portfolio, making the stock its 24th biggest position. Nikko Asset Management Americas Inc. owned 2.94% of CRISPR Therapeutics worth $86,331,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its stake in CRISPR Therapeutics by 94.1% in the first quarter. Cetera Investment Advisers now owns 57,919 shares of the company's stock worth $1,971,000 after acquiring an additional 28,084 shares during the period. Avantax Advisory Services Inc. raised its holdings in CRISPR Therapeutics by 55.8% in the first quarter. Avantax Advisory Services Inc. now owns 10,651 shares of the company's stock worth $362,000 after purchasing an additional 3,815 shares in the last quarter. SFE Investment Counsel raised its holdings in CRISPR Therapeutics by 5.8% in the first quarter. SFE Investment Counsel now owns 6,507 shares of the company's stock worth $221,000 after purchasing an additional 355 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in CRISPR Therapeutics by 6.6% in the first quarter. Kestra Private Wealth Services LLC now owns 21,991 shares of the company's stock worth $748,000 after purchasing an additional 1,355 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in CRISPR Therapeutics by 27.5% in the first quarter. Private Advisor Group LLC now owns 108,418 shares of the company's stock worth $3,689,000 after purchasing an additional 23,382 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company's stock.

CRISPR Therapeutics Stock Down 0.4%

Shares of NASDAQ:CRSP traded down $0.23 during midday trading on Wednesday, reaching $58.80. The company's stock had a trading volume of 1,453,347 shares, compared to its average volume of 2,558,549. The firm has a market capitalization of $5.08 billion, a PE ratio of -13.03 and a beta of 1.82. The stock has a fifty day moving average of $48.46 and a 200 day moving average of $43.02. CRISPR Therapeutics AG has a twelve month low of $30.04 and a twelve month high of $71.13.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.31). CRISPR Therapeutics had a negative return on equity of 20.08% and a negative net margin of 1,023.64%. The company's quarterly revenue was up 71.6% on a year-over-year basis. During the same period last year, the firm posted ($1.43) earnings per share. Sell-side analysts anticipate that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, insider Naimish Patel sold 3,932 shares of the company's stock in a transaction 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 completion of the sale, the insider directly owned 6,068 shares in the company, valued at $218,083.92. This represents a 39.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Simeon George bought 989,812 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was bought at an average price of $52.03 per share, with a total value of $51,499,918.36. Following the completion of the acquisition, the director owned 1,730,179 shares in the company, valued at $90,021,213.37. This represents a 133.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays decreased their price objective on CRISPR Therapeutics from $56.00 to $42.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $105.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $81.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, July 8th. Wall Street Zen raised CRISPR Therapeutics to a "sell" rating in a research report on Friday, May 16th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $82.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, June 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $71.31.

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.