CRISPR Therapeutics AG (NASDAQ:CRSP) Holdings Cut by Bellevue Group AG

Bellevue Group AG lowered its holdings in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 31.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 619,950 shares of the company’s stock after selling 280,450 shares during the quarter. Bellevue Group AG owned about 0.73% of CRISPR Therapeutics worth $42,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Avoro Capital Advisors LLC bought a new position in CRISPR Therapeutics in the 1st quarter worth $28,599,000. Capital International Sarl raised its holdings in CRISPR Therapeutics by 38.2% in the 1st quarter. Capital International Sarl now owns 141,908 shares of the company’s stock worth $9,672,000 after acquiring an additional 39,234 shares during the period. Capital International Ltd. CA raised its holdings in CRISPR Therapeutics by 33.6% in the 1st quarter. Capital International Ltd. CA now owns 126,770 shares of the company’s stock worth $8,641,000 after acquiring an additional 31,908 shares during the period. Capital International Inc. CA raised its holdings in CRISPR Therapeutics by 33.5% in the 1st quarter. Capital International Inc. CA now owns 91,661 shares of the company’s stock worth $6,248,000 after acquiring an additional 23,007 shares during the period. Finally, Capital International Investors raised its holdings in CRISPR Therapeutics by 27.8% in the 1st quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock worth $534,175,000 after acquiring an additional 1,702,624 shares during the period. Institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Trading Up 0.6 %

CRSP stock traded up $0.35 during trading on Friday, hitting $57.92. 867,106 shares of the stock traded hands, compared to its average volume of 1,250,020. CRISPR Therapeutics AG has a one year low of $37.55 and a one year high of $91.10. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of -21.29 and a beta of 1.70. The company has a 50 day simple moving average of $57.19 and a 200 day simple moving average of $63.55.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The business had revenue of $0.50 million for the quarter, compared to the consensus estimate of $25.53 million. During the same period in the previous year, the company posted ($0.67) earnings per share. The company’s revenue was down 99.5% on a year-over-year basis. As a group, analysts predict that CRISPR Therapeutics AG will post -5.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Julianne Bruno sold 3,366 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $56.09, for a total transaction of $188,798.94. Following the completion of the sale, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at $378,327.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on CRSP shares. Piper Sandler restated an “overweight” rating and issued a $105.00 price target on shares of CRISPR Therapeutics in a research report on Monday, June 17th. Guggenheim restated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Friday, June 28th. JMP Securities restated a “market outperform” rating and issued a $86.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $88.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.71.

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.