CRISPR Therapeutics AG (NASDAQ:CRSP) Shares Sold by Bellevue Group AG

Bellevue Group AG reduced its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 31.1% during the 1st quarter, Holdings Channel reports. The firm owned 619,950 shares of the company’s stock after selling 280,450 shares during the quarter. Bellevue Group AG’s holdings in CRISPR Therapeutics were worth $42,256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Avoro Capital Advisors LLC purchased a new position in shares of CRISPR Therapeutics in the first quarter valued at approximately $28,599,000. Capital International Sarl lifted its position in shares of CRISPR Therapeutics by 38.2% in the first quarter. Capital International Sarl now owns 141,908 shares of the company’s stock valued at $9,672,000 after acquiring an additional 39,234 shares in the last quarter. Capital International Ltd. CA lifted its position in shares of CRISPR Therapeutics by 33.6% in the first quarter. Capital International Ltd. CA now owns 126,770 shares of the company’s stock valued at $8,641,000 after acquiring an additional 31,908 shares in the last quarter. Capital International Inc. CA lifted its position in shares of CRISPR Therapeutics by 33.5% in the first quarter. Capital International Inc. CA now owns 91,661 shares of the company’s stock valued at $6,248,000 after acquiring an additional 23,007 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of CRISPR Therapeutics by 27.8% in the first quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock valued at $534,175,000 after acquiring an additional 1,702,624 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Insiders Place Their Bets

In other news, COO Julianne Bruno sold 3,366 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the sale, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by company insiders.

CRISPR Therapeutics Stock Performance

NASDAQ CRSP traded up $0.35 during trading on Friday, reaching $57.92. 867,106 shares of the company’s stock were exchanged, compared to its average volume of 1,250,020. The stock has a market cap of $4.92 billion, a P/E ratio of -21.29 and a beta of 1.70. The company has a 50 day moving average price of $57.19 and a two-hundred day moving average price of $63.55. CRISPR Therapeutics AG has a 1 year low of $37.55 and a 1 year high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. CRISPR Therapeutics’s revenue was down 99.5% compared to the same quarter last year. During the same period last year, the business earned ($0.67) earnings per share. Research analysts forecast that CRISPR Therapeutics AG will post -5.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Guggenheim reiterated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Friday, June 28th. Robert W. Baird lifted their price objective on CRISPR Therapeutics from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Barclays reduced their price objective on CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Needham & Company LLC reiterated a “buy” rating and set a $88.00 price objective on shares of CRISPR Therapeutics in a research report on Thursday, June 27th. Finally, Citigroup reduced their price objective on CRISPR Therapeutics from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $75.71.

CRISPR Therapeutics Profile

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.