Truist Financial Corp Reduces Stock Position in CRISPR Therapeutics AG (NASDAQ:CRSP)

Truist Financial Corp cut its stake in CRISPR Therapeutics AG (NASDAQ:CRSPGet Rating) by 10.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,693 shares of the company’s stock after selling 423 shares during the quarter. Truist Financial Corp’s holdings in CRISPR Therapeutics were worth $232,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Antonetti Capital Management LLC lifted its holdings in CRISPR Therapeutics by 16.1% in the fourth quarter. Antonetti Capital Management LLC now owns 1,190 shares of the company’s stock valued at $76,000 after acquiring an additional 165 shares during the last quarter. Sterling Investment Advisors Ltd. lifted its holdings in CRISPR Therapeutics by 50.0% in the fourth quarter. Sterling Investment Advisors Ltd. now owns 600 shares of the company’s stock valued at $45,000 after acquiring an additional 200 shares during the last quarter. Sittner & Nelson LLC lifted its holdings in CRISPR Therapeutics by 8.3% in the fourth quarter. Sittner & Nelson LLC now owns 2,727 shares of the company’s stock valued at $207,000 after acquiring an additional 210 shares during the last quarter. Elkhorn Partners Limited Partnership increased its position in shares of CRISPR Therapeutics by 180.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 350 shares of the company’s stock worth $27,000 after purchasing an additional 225 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in CRISPR Therapeutics by 4.8% in the first quarter. Flagship Harbor Advisors LLC now owns 5,124 shares of the company’s stock valued at $322,000 after buying an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 56.12% of the company’s stock.

Insider Buying and Selling at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $75.91, for a total value of $1,897,750.00. Following the completion of the sale, the chief executive officer now owns 290,279 shares in the company, valued at approximately $22,035,078.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.70% of the stock is currently owned by corporate insiders.

CRISPR Therapeutics Stock Down 1.2 %

Shares of CRSP stock opened at $75.00 on Friday. CRISPR Therapeutics AG has a 52-week low of $42.51 and a 52-week high of $142.64. The stock’s 50-day moving average price is $68.36 and its 200 day moving average price is $62.68. The stock has a market capitalization of $5.81 billion, a PE ratio of 20.78 and a beta of 1.91.

CRISPR Therapeutics (NASDAQ:CRSPGet Rating) last announced its earnings results on Monday, May 9th. The company reported ($2.32) earnings per share for the quarter, missing the consensus estimate of ($1.91) by ($0.41). CRISPR Therapeutics had a net margin of 34.04% and a return on equity of 12.77%. The company had revenue of $0.94 million during the quarter, compared to analysts’ expectations of $2.45 million. During the same quarter last year, the business posted ($1.51) earnings per share. The company’s revenue for the quarter was up 74.4% compared to the same quarter last year. Analysts expect that CRISPR Therapeutics AG will post -8.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Piper Sandler upped their target price on shares of CRISPR Therapeutics from $115.00 to $121.00 and gave the company an “overweight” rating in a research report on Wednesday, June 22nd. Barclays decreased their target price on shares of CRISPR Therapeutics from $107.00 to $99.00 in a research report on Tuesday, May 10th. Oppenheimer decreased their target price on shares of CRISPR Therapeutics from $150.00 to $122.00 and set an “outperform” rating on the stock in a research report on Thursday, June 23rd. Citigroup decreased their target price on shares of CRISPR Therapeutics from $64.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 17th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $55.00 price target (down from $57.00) on shares of CRISPR Therapeutics in a research note on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, CRISPR Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $114.31.

CRISPR Therapeutics Profile

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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.

Further Reading

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Institutional Ownership by Quarter for CRISPR Therapeutics (NASDAQ:CRSP)

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