Citigroup Inc. Sells 88,203 Shares of CRISPR Therapeutics AG $CRSP

Citigroup Inc. decreased its position in CRISPR Therapeutics AG (NASDAQ:CRSP) by 59.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,489 shares of the company’s stock after selling 88,203 shares during the quarter. Citigroup Inc. owned approximately 0.07% of CRISPR Therapeutics worth $3,920,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of CRISPR Therapeutics by 35.6% in the 2nd quarter. State Street Corp now owns 3,270,596 shares of the company’s stock worth $159,082,000 after buying an additional 859,334 shares during the period. Orbis Allan Gray Ltd grew its holdings in CRISPR Therapeutics by 76.9% in the second quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock worth $134,467,000 after purchasing an additional 1,201,600 shares during the period. Vanguard Group Inc. increased its stake in shares of CRISPR Therapeutics by 2.9% during the third quarter. Vanguard Group Inc. now owns 2,364,645 shares of the company’s stock valued at $153,253,000 after purchasing an additional 66,556 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of CRISPR Therapeutics by 98.1% during the second quarter. Geode Capital Management LLC now owns 2,071,883 shares of the company’s stock valued at $100,789,000 after purchasing an additional 1,025,979 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of CRISPR Therapeutics by 98.3% during the third quarter. JPMorgan Chase & Co. now owns 593,416 shares of the company’s stock valued at $38,459,000 after purchasing an additional 294,222 shares during the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Insider Activity at CRISPR Therapeutics

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 2,112 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $52.58, for a total transaction of $111,048.96. Following the completion of the sale, the general counsel directly owned 85,115 shares in the company, valued at approximately $4,475,346.70. The trade was a 2.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Samarth Kulkarni sold 6,967 shares of CRISPR Therapeutics stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $52.58, for a total value of $366,324.86. Following the completion of the sale, the chief executive officer directly owned 226,106 shares of the company’s stock, valued at $11,888,653.48. The trade was a 2.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 99,079 shares of company stock worth $5,643,674 in the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CRSP has been the subject of a number of analyst reports. Bank of America reduced their price objective on CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Needham & Company LLC increased their target price on CRISPR Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Morgan Stanley reaffirmed an “underweight” rating and issued a $33.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, February 17th. Citizens Jmp cut their price objective on shares of CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Friday, January 30th. Finally, Robert W. Baird reduced their price objective on shares of CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating for the company in a research note 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 given a Sell rating to the stock. Based on data from MarketBeat, CRISPR Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $64.24.

CRISPR Therapeutics Price Performance

CRISPR Therapeutics stock opened at $60.00 on Thursday. CRISPR Therapeutics AG has a one year low of $30.04 and a one year high of $78.48. The business’s fifty day moving average is $54.20 and its 200 day moving average is $57.31. The stock has a market capitalization of $5.76 billion, a PE ratio of -9.20 and a beta of 1.72.

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

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.