SteelPeak Wealth LLC Trims Stock Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

SteelPeak Wealth LLC cut its holdings in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 35.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,183 shares of the company’s stock after selling 5,477 shares during the quarter. SteelPeak Wealth LLC’s holdings in CRISPR Therapeutics were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Capital International Investors lifted its position in CRISPR Therapeutics by 27.8% during the first quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock worth $534,175,000 after buying an additional 1,702,624 shares during the period. Vanguard Group Inc. increased its stake in CRISPR Therapeutics by 2.9% during the first quarter. Vanguard Group Inc. now owns 1,636,799 shares of the company’s stock worth $111,564,000 after acquiring an additional 46,148 shares during the last quarter. SR One Capital Management LP acquired a new stake in CRISPR Therapeutics during the first quarter worth about $71,496,000. Dimensional Fund Advisors LP increased its stake in CRISPR Therapeutics by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 950,149 shares of the company’s stock worth $51,326,000 after acquiring an additional 19,094 shares during the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in CRISPR Therapeutics during the second quarter worth about $28,625,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

CRISPR Therapeutics Trading Down 3.2 %

Shares of CRSP opened at $46.39 on Friday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -17.06 and a beta of 1.68. The stock has a 50 day moving average of $47.13 and a 200-day moving average of $52.48. CRISPR Therapeutics AG has a 52 week low of $39.76 and a 52 week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Monday, August 5th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The company had revenue of $0.52 million during the quarter, compared to analyst estimates of $12.31 million. During the same period in the prior year, the company earned ($0.98) EPS. CRISPR Therapeutics’s revenue for the quarter was down 99.3% on a year-over-year basis. On average, sell-side analysts predict that CRISPR Therapeutics AG will post -5.6 earnings per share for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In related news, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the transaction, the general counsel now owns 62,597 shares in the company, valued at $2,896,989.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the transaction, the general counsel now owns 62,597 shares in the company, valued at approximately $2,896,989.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $198,680.04. Following the transaction, the chief executive officer now owns 226,540 shares of the company’s stock, valued at $10,484,271.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CRSP shares. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research note on Tuesday. Truist Financial lowered their target price on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Stifel Nicolaus lowered their target price on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC lowered their target price on CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Barclays lowered their target price on CRISPR Therapeutics from $67.00 to $59.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.19.

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.