Sumitomo Mitsui Trust Group Inc. Cuts Holdings in CRISPR Therapeutics AG (NASDAQ:CRSP)

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,968,034 shares of the company’s stock after selling 183,480 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 3.49% of CRISPR Therapeutics worth $139,438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC grew its holdings in shares of CRISPR Therapeutics by 150.0% during the 2nd quarter. Global Trust Asset Management LLC now owns 500 shares of the company’s stock worth $27,000 after purchasing an additional 300 shares during the period. Larson Financial Group LLC grew its stake in CRISPR Therapeutics by 95.5% during the second quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock worth $31,000 after buying an additional 276 shares during the period. GPS Wealth Strategies Group LLC increased its position in shares of CRISPR Therapeutics by 99.7% in the second quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company’s stock worth $33,000 after acquiring an additional 307 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of CRISPR Therapeutics in the 2nd quarter valued at $35,000. Finally, Orion Capital Management LLC lifted its holdings in shares of CRISPR Therapeutics by 44.0% during the 1st quarter. Orion Capital Management LLC now owns 720 shares of the company’s stock valued at $49,000 after acquiring an additional 220 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRSP has been the subject of several recent research reports. Barclays lowered their price target on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Rodman & Renshaw started coverage on CRISPR Therapeutics in a research report on Friday, August 2nd. They set a “buy” rating and a $90.00 price target on the stock. Stifel Nicolaus lowered their price objective on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Cantor Fitzgerald reissued a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, August 8th. Finally, Chardan Capital lowered their price target on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.94.

CRISPR Therapeutics Trading Down 7.5 %

Shares of CRSP opened at $50.73 on Wednesday. CRISPR Therapeutics AG has a 52 week low of $43.42 and a 52 week high of $91.10. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -17.93 and a beta of 1.67. The stock has a 50 day moving average of $47.70 and a 200-day moving average of $52.14.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.41. The firm had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. During the same quarter in the previous year, the company posted ($1.41) earnings per share. On average, sell-side analysts predict that CRISPR Therapeutics AG will post -5.23 earnings per share for the current fiscal year.

Insider Activity

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

About CRISPR Therapeutics

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.