Pictet Asset Management Holding SA Trims Stock Holdings in CRISPR Therapeutics AG $CRSP

Pictet Asset Management Holding SA lowered its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 8.0% during the first quarter, Holdings Channel reports. The fund owned 154,007 shares of the company’s stock after selling 13,457 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CRISPR Therapeutics were worth $6,874,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. purchased a new position in CRISPR Therapeutics in the 4th quarter valued at about $25,000. Ramirez Asset Management Inc. acquired a new stake in shares of CRISPR Therapeutics during the 4th quarter worth about $26,000. Rothschild Investment LLC grew its holdings in shares of CRISPR Therapeutics by 836.7% during the fourth quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock worth $29,000 after buying an additional 502 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of CRISPR Therapeutics by 196.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company’s stock valued at $30,000 after buying an additional 382 shares during the last quarter. Finally, Strategic Advocates LLC acquired a new position in shares of CRISPR Therapeutics in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Analysts Set New Price Targets

CRSP has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Citigroup reiterated a “market outperform” rating on shares of CRISPR Therapeutics in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Monday, April 20th. UBS Group set a $80.00 price objective on CRISPR Therapeutics in a research report on Friday, June 12th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $110.00 target price (up from $105.00) on shares of CRISPR Therapeutics in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.78.

CRISPR Therapeutics Price Performance

CRISPR Therapeutics stock opened at $60.08 on Friday. CRISPR Therapeutics AG has a 1 year low of $44.12 and a 1 year high of $78.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 17.96 and a current ratio of 17.97. The firm has a 50 day moving average price of $52.78 and a 200 day moving average price of $53.07. The company has a market cap of $5.79 billion, a price-to-earnings ratio of -9.66 and a beta of 1.71.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($1.28) earnings per share for the quarter. The company had revenue of $1.46 million for the quarter. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%. Sell-side analysts predict that CRISPR Therapeutics AG will post -4.89 earnings per share for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In related news, insider Naimish Patel sold 3,786 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $55.62, for a total value of $210,577.32. Following the transaction, the insider directly owned 19,357 shares of the company’s stock, valued at approximately $1,076,636.34. This trade represents a 16.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company 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 ?-thalassemia in collaboration with Vertex Pharmaceuticals.