Versant Venture Management LLC Decreases Holdings in CRISPR Therapeutics AG $CRSP

Versant Venture Management LLC cut its holdings in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 70.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 148,831 shares of the company’s stock after selling 349,727 shares during the period. CRISPR Therapeutics comprises approximately 4.5% of Versant Venture Management LLC’s investment portfolio, making the stock its 4th biggest position. Versant Venture Management LLC owned 0.16% of CRISPR Therapeutics worth $9,646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Atlantic Union Bankshares Corp acquired a new position in shares of CRISPR Therapeutics during the 2nd quarter worth $33,000. Thompson Investment Management Inc. bought a new position in CRISPR Therapeutics in the third quarter valued at about $33,000. Strategic Wealth Investment Group LLC acquired a new position in CRISPR Therapeutics during the second quarter worth about $36,000. Bogart Wealth LLC lifted its holdings in shares of CRISPR Therapeutics by 333.3% in the third quarter. Bogart Wealth LLC now owns 650 shares of the company’s stock worth $42,000 after acquiring an additional 500 shares during the last quarter. Finally, Covestor Ltd bought a new position in shares of CRISPR Therapeutics in the third quarter worth about $48,000. Institutional investors own 69.20% of the company’s stock.

Insider Activity

In related news, General Counsel James R. Kasinger sold 2,112 shares of CRISPR Therapeutics stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $52.58, for a total value of $111,048.96. Following the transaction, the general counsel directly owned 85,115 shares of the company’s stock, valued at $4,475,346.70. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Samarth Kulkarni sold 60,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $60.23, for a total transaction of $3,613,800.00. Following the sale, the chief executive officer directly owned 134,201 shares of the company’s stock, valued at $8,082,926.23. This represents a 30.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 99,079 shares of company stock worth $5,643,674 over the last ninety days. Company insiders own 4.30% of the company’s stock.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ CRSP opened at $53.98 on Tuesday. The firm has a 50 day moving average price of $53.79 and a two-hundred day moving average price of $57.23. The stock has a market cap of $5.18 billion, a P/E ratio of -8.28 and a beta of 1.72. CRISPR Therapeutics AG has a 52-week low of $30.04 and a 52-week high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($1.37) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.22). The business had revenue of $0.86 million for the quarter, compared to analyst estimates of $4.72 million. CRISPR Therapeutics had a negative return on equity of 26.31% and a negative net margin of 16,569.77%.CRISPR Therapeutics’s revenue for the quarter was down 97.8% on a year-over-year basis. During the same quarter last year, the firm posted ($1.01) EPS. Analysts predict that CRISPR Therapeutics AG will post -5.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup reaffirmed a “buy” rating on shares of CRISPR Therapeutics in a report on Monday, February 16th. Evercore reaffirmed an “outperform” rating and set a $74.00 target price on shares of CRISPR Therapeutics in a research note on Friday, February 13th. TD Cowen upped their price target on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Citizens Jmp dropped their price target on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a research note on Friday, January 30th. Finally, Robert W. Baird cut their price objective on CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, CRISPR Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $64.24.

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.