ARK Investment Management LLC Sells 395,617 Shares of CRISPR Therapeutics AG $CRSP

ARK Investment Management LLC trimmed its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 3.9% in the third quarter, HoldingsChannel.com reports. The firm owned 9,786,973 shares of the company’s stock after selling 395,617 shares during the quarter. CRISPR Therapeutics comprises about 3.8% of ARK Investment Management LLC’s investment portfolio, making the stock its 8th largest holding. ARK Investment Management LLC owned 0.11% of CRISPR Therapeutics worth $634,294,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of 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 valued at $159,082,000 after buying an additional 859,334 shares during the last quarter. Orbis Allan Gray Ltd boosted its stake 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 valued at $134,467,000 after acquiring an additional 1,201,600 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 worth $153,253,000 after purchasing an additional 66,556 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $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% in the 3rd 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.

CRISPR Therapeutics Stock Performance

CRISPR Therapeutics stock opened at $60.00 on Thursday. The company has a market cap of $5.76 billion, a P/E ratio of -9.20 and a beta of 1.72. CRISPR Therapeutics AG has a one year low of $30.04 and a one year high of $78.48. The business has a fifty day moving average of $54.20 and a two-hundred day moving average of $57.31.

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

Analysts Set New Price Targets

Several research firms have commented on CRSP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday, January 21st. TD Cowen upped their price target on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Chardan Capital increased their price target on shares of CRISPR Therapeutics from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Saturday, February 14th. Royal Bank Of Canada lifted their price objective on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 11th. Finally, Citigroup reiterated a “buy” rating on shares of CRISPR Therapeutics in a research note on Monday, February 16th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, CRISPR Therapeutics presently has a consensus rating of “Hold” and an average price target of $64.24.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 6,967 shares of the company’s 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 sale, the chief executive officer owned 226,106 shares of the company’s stock, valued at approximately $11,888,653.48. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel James R. Kasinger sold 2,112 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $52.58, for a total value of $111,048.96. Following the completion of the transaction, the general counsel owned 85,115 shares of the company’s stock, valued at approximately $4,475,346.70. This represents a 2.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 99,079 shares of company stock valued at $5,643,674. Insiders own 4.30% of the company’s stock.

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.