Citigroup Inc. Reduces Position in CRISPR Therapeutics AG $CRSP

Citigroup Inc. decreased its holdings in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 59.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,489 shares of the company’s stock after selling 88,203 shares during the period. Citigroup Inc.’s holdings in CRISPR Therapeutics were worth $3,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Axxcess Wealth Management LLC grew its holdings in CRISPR Therapeutics by 6.1% during the third quarter. Axxcess Wealth Management LLC now owns 12,258 shares of the company’s stock valued at $794,000 after purchasing an additional 708 shares during the period. Merit Financial Group LLC bought a new position in shares of CRISPR Therapeutics during the 3rd quarter valued at approximately $678,000. Vanguard Group Inc. increased its holdings in CRISPR Therapeutics by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,364,645 shares of the company’s stock worth $153,253,000 after acquiring an additional 66,556 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in CRISPR Therapeutics by 98.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 593,416 shares of the company’s stock worth $38,459,000 after acquiring an additional 294,222 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in CRISPR Therapeutics by 15.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,631 shares of the company’s stock worth $430,000 after acquiring an additional 876 shares during the period. 69.20% of the stock is owned by institutional investors.

CRISPR Therapeutics Stock Up 3.3%

Shares of CRSP stock opened at $60.00 on Thursday. The company’s fifty day simple moving average is $54.20 and its two-hundred day simple moving average is $57.31. CRISPR Therapeutics AG has a 52 week low of $30.04 and a 52 week high of $78.48. The stock has a market cap of $5.76 billion, a P/E ratio of -9.20 and a beta of 1.72.

CRISPR Therapeutics (NASDAQ:CRSP) last issued 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). The firm had revenue of $0.86 million during the quarter, compared to the consensus estimate of $4.72 million. CRISPR Therapeutics had a negative return on equity of 26.31% and a negative net margin of 16,569.77%.The company’s revenue for the quarter was down 97.8% compared to the same quarter last year. During the same period last year, the firm posted ($1.01) earnings per share. On average, analysts anticipate that CRISPR Therapeutics AG will post -5.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Samarth Kulkarni sold 6,967 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 $366,324.86. Following the completion of the transaction, the chief executive officer directly owned 226,106 shares of the company’s stock, valued at approximately $11,888,653.48. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel James R. Kasinger sold 2,112 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was 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 owned 85,115 shares in the company, valued at $4,475,346.70. This represents a 2.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 99,079 shares of company stock worth $5,643,674. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Needham & Company LLC upped their price target on shares of CRISPR Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Evercore reiterated an “outperform” rating and issued a $74.00 price target on shares of CRISPR Therapeutics in a research note on Friday, February 13th. Robert W. Baird decreased their price target on CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Citizens Jmp dropped their price objective on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a research note on Friday, January 30th. Finally, Wedbush cut their target price on CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $64.24.

CRISPR Therapeutics Company Profile

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.