Pictet Asset Management Holding SA Sells 25,129 Shares of CRISPR Therapeutics AG $CRSP

Key Points

• Pictet Asset Management Holding SA reduced its CRISPR Therapeutics stake by 13.0%, selling 25,129 shares in Q4 and holding 167,464 shares (about 0.18% of the company) worth roughly $9.02 million.
• Other institutions were active: JPMorgan Chase increased its stake by 98.3% (adding 294,222 shares), several firms added or opened positions, and institutional investors now own about 69.2% of CRSP.
• Insiders have been net sellers (51,828 shares worth ~$2.58M sold in the last 90 days, including CEO sales), while analysts maintain a "Moderate Buy" consensus with a $64.53 price target as the stock trades near $51.63 (52-week range $33.03–$78.48; market cap ≈ $5.0B).

Pictet Asset Management Holding SA reduced its stake in CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 167,464 shares of the company's stock after selling 25,129 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.18% of CRISPR Therapeutics worth $9,020,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in CRISPR Therapeutics by 98.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 593,416 shares of the company's stock worth $38,459,000 after buying an additional 294,222 shares in the last quarter. Nwam LLC increased its stake in CRISPR Therapeutics by 455.7% during the 3rd quarter. Nwam LLC now owns 101,769 shares of the company's stock worth $6,770,000 after buying an additional 83,454 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in CRISPR Therapeutics by 44.7% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 283,111 shares of the company's stock worth $18,348,000 after buying an additional 87,509 shares in the last quarter. O Neil Global Advisors Inc. purchased a new stake in CRISPR Therapeutics during the 3rd quarter worth approximately $10,934,000. Finally, Clough Capital Partners L P purchased a new stake in CRISPR Therapeutics during the 3rd quarter worth approximately $1,491,000. 69.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Chardan Capital boosted their price objective on CRISPR Therapeutics from $74.00 to $76.00 and gave the stock a "buy" rating in a research note on Saturday, February 14th. Truist Financial upgraded CRISPR Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. Needham & Company LLC boosted their price objective on CRISPR Therapeutics from $80.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, February 13th. Evercore restated an "outperform" rating and issued a $74.00 price target on shares of CRISPR Therapeutics in a research report on Friday, February 13th. Finally, Morgan Stanley restated an "underweight" rating and issued a $33.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $64.53.

CRISPR Therapeutics Stock Down 1.4%

CRSP opened at $51.63 on Friday. CRISPR Therapeutics AG has a 52 week low of $33.03 and a 52 week high of $78.48. The business has a fifty day simple moving average of $52.43 and a 200-day simple moving average of $54.84. The firm has a market cap of $4.98 billion, a P/E ratio of -7.92 and a beta of 1.75.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last released its quarterly earnings results on Friday, February 13th. The company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.22). CRISPR Therapeutics had a negative return on equity of 26.31% and a negative net margin of 16,569.77%.The firm had revenue of $0.86 million for the quarter, compared to analysts' expectations of $4.72 million. During the same quarter in the prior year, the business earned ($1.01) earnings per share. The company's quarterly revenue was down 97.8% on a year-over-year basis. Sell-side analysts expect that CRISPR Therapeutics AG will post -4.93 earnings per share for the current year.

Insider Transactions at CRISPR Therapeutics

In other news, insider Naimish Patel sold 3,150 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $48.26, for a total value of $152,019.00. Following the sale, the insider directly owned 13,143 shares in the company, valued at approximately $634,281.18. This trade represents a 19.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samarth Kulkarni sold 10,349 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $48.26, for a total value of $499,442.74. Following the completion of the sale, the chief executive officer owned 245,834 shares in the company, valued at approximately $11,863,948.84. The trade was a 4.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,828 shares of company stock worth $2,578,097 over the last ninety days. 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 β-thalassemia in collaboration with Vertex Pharmaceuticals.

Want to see what other hedge funds are holding CRSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CRISPR Therapeutics AG (NASDAQ:CRSP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.