CRISPR Therapeutics AG $CRSP Shares Sold by GSK plc

GSK plc reduced its stake in CRISPR Therapeutics AG (NASDAQ:CRSP) by 19.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,608,419 shares of the company’s stock after selling 612,208 shares during the period. CRISPR Therapeutics makes up about 29.0% of GSK plc’s holdings, making the stock its largest holding. GSK plc’s holdings in CRISPR Therapeutics were worth $144,298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Versant Capital Management Inc grew its stake in CRISPR Therapeutics by 175.1% during the 2nd quarter. Versant Capital Management Inc now owns 465 shares of the company’s stock worth $25,000 after purchasing an additional 296 shares in the last quarter. Compass Financial Management LLC purchased a new stake in CRISPR Therapeutics during the 3rd quarter worth about $25,000. Ameritas Advisory Services LLC acquired a new stake in CRISPR Therapeutics in the 2nd quarter valued at about $56,000. Hollencrest Capital Management raised its position in CRISPR Therapeutics by 249.9% in the 1st quarter. Hollencrest Capital Management now owns 1,312 shares of the company’s stock valued at $62,000 after purchasing an additional 937 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in CRISPR Therapeutics by 92.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,246 shares of the company’s stock valued at $69,000 after purchasing an additional 597 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRSP has been the subject of several recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Thursday, October 15th. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, November 3rd. Finally, Wells Fargo & Company decreased their price target on shares of CRISPR Therapeutics from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, CRISPR Therapeutics has an average rating of “Moderate Buy” and an average price target of $72.93.

Insiders Place Their Bets

In other news, Director Simeon George sold 14,514 shares of the company’s stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $49.63, for a total transaction of $720,329.82. Following the completion of the transaction, the director directly owned 15,486 shares of the company’s stock, valued at approximately $768,570.18. This represents a 48.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel James R. Kasinger sold 1,040 shares of the stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $49.26, for a total value of $51,230.40. Following the completion of the transaction, the general counsel owned 95,857 shares in the company, valued at approximately $4,721,915.82. The trade was a 1.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 93,558 shares of company stock valued at $4,881,663 over the last quarter. Corporate insiders own 5.20% of the company’s stock.

CRISPR Therapeutics Price Performance

CRISPR Therapeutics stock opened at $45.75 on Thursday. The company has a quick ratio of 16.21, a current ratio of 16.21 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $52.66 and a 200-day simple moving average of $52.66. CRISPR Therapeutics AG has a 12-month low of $44.12 and a 12-month high of $63.45.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Monday, November 2nd. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.09). CRISPR Therapeutics had a negative net margin of 1,812.07% and a negative return on equity of 25.59%. The business had revenue of $12.67 million during the quarter, compared to analysts’ expectations of $14.75 million. CRISPR Therapeutics’s revenue was up 1311.1% compared to the same quarter last year. Research analysts expect that CRISPR Therapeutics AG will post -4.54 EPS for the current year.

CRISPR Therapeutics Profile

CRISPR Therapeutics AG is a biotechnology company focused on developing gene-based medicines using CRISPR/Cas9, a gene-editing technology that can make targeted changes to DNA. Founded in 2013, the company is headquartered in Zug, Switzerland, and maintains U.S. operations in Cambridge, Massachusetts. Its lead product, Casgevy (exa-cel), was developed with Vertex Pharmaceuticals for people with sickle cell disease and transfusion-dependent beta thalassemia. It was the first therapy based on CRISPR gene editing to receive regulatory approval.