Pictet Asset Management SA Sells 386,980 Shares of CRISPR Therapeutics AG (NASDAQ:CRSP)

Posted by Defense World Staff on Feb 27th, 2023

Pictet Asset Management SA lowered its position in CRISPR Therapeutics AG (NASDAQ:CRSP – Get Rating) by 91.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,307 shares of the company’s stock after selling 386,980 shares during the quarter. Pictet Asset Management SA’s holdings in CRISPR Therapeutics were worth $2,373,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CRSP. Fairfield Bush & CO. bought a new position in CRISPR Therapeutics in the first quarter worth $90,000. Bank of New York Mellon Corp lifted its holdings in shares of CRISPR Therapeutics by 40.7% during the 1st quarter. Bank of New York Mellon Corp now owns 91,062 shares of the company’s stock worth $5,716,000 after acquiring an additional 26,358 shares during the period. US Bancorp DE boosted its position in shares of CRISPR Therapeutics by 10.0% during the 1st quarter. US Bancorp DE now owns 9,526 shares of the company’s stock valued at $598,000 after acquiring an additional 866 shares in the last quarter. BlackRock Inc. increased its stake in CRISPR Therapeutics by 79.2% in the first quarter. BlackRock Inc. now owns 2,278,774 shares of the company’s stock valued at $143,038,000 after acquiring an additional 1,007,246 shares during the period. Finally, Cibc World Market Inc. increased its stake in CRISPR Therapeutics by 49.3% in the first quarter. Cibc World Market Inc. now owns 8,354 shares of the company’s stock valued at $524,000 after acquiring an additional 2,760 shares during the period. Institutional investors and hedge funds own 71.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CRSP shares. Needham & Company LLC decreased their price objective on CRISPR Therapeutics from $122.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Barclays lowered their price target on CRISPR Therapeutics from $88.00 to $61.00 in a research report on Wednesday, November 2nd. Credit Suisse Group cut their price objective on CRISPR Therapeutics from $78.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, February 22nd. SVB Leerink upped their target price on shares of CRISPR Therapeutics from $75.00 to $76.00 and gave the stock an “outperform” rating in a report on Monday, November 7th. Finally, EF Hutton Acquisition Co. I reissued a “buy” rating and set a $75.00 price target on shares of CRISPR Therapeutics in a report on Wednesday, February 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, CRISPR Therapeutics currently has a consensus rating of “Hold” and an average target price of $77.20.

CRISPR Therapeutics Stock Down 4.0 %

Shares of CRSP stock opened at $48.02 on Monday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -5.74 and a beta of 1.66. CRISPR Therapeutics AG has a 12 month low of $38.94 and a 12 month high of $86.95. The stock has a 50-day moving average price of $48.65 and a 200 day moving average price of $56.17.

CRISPR Therapeutics (NASDAQ:CRSP – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The company reported ($1.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.27) by $0.86. CRISPR Therapeutics had a negative net margin of 54,271.70% and a negative return on equity of 31.85%. The business had revenue of $6.00 million during the quarter, compared to the consensus estimate of $7.37 million. During the same period in the previous year, the firm posted ($1.84) earnings per share. CRISPR Therapeutics’s revenue for the quarter was down 53.5% compared to the same quarter last year. Sell-side analysts predict that CRISPR Therapeutics AG will post -7.53 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 25,000 shares of CRISPR Therapeutics stock in a transaction on Friday, January 27th. The stock was sold at an average price of $51.47, for a total transaction of $1,286,750.00. Following the completion of the sale, the chief executive officer now directly owns 369,111 shares of the company’s stock, valued at $18,998,143.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.30% of the stock is currently owned by company insiders.

CRISPR Therapeutics Company 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.