Pictet Asset Management Holding SA Decreases Stake in CRISPR Therapeutics AG $CRSP

Pictet Asset Management Holding SA lessened its holdings in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,007 shares of the company’s stock after selling 13,457 shares during the period. Pictet Asset Management Holding SA owned approximately 0.16% of CRISPR Therapeutics worth $6,874,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Mcguire Capital Advisors Inc. purchased a new stake in shares of CRISPR Therapeutics during the 4th quarter worth $25,000. Ramirez Asset Management Inc. acquired a new position in shares of CRISPR Therapeutics during the 4th quarter worth $26,000. Strategic Advocates LLC purchased a new position in shares of CRISPR Therapeutics in the 3rd quarter valued at about $34,000. Rothschild Investment LLC increased its holdings in shares of CRISPR Therapeutics by 836.7% in the 4th quarter. Rothschild Investment LLC now owns 562 shares of the company’s stock valued at $29,000 after purchasing an additional 502 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake 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 purchasing an additional 382 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRSP. Morgan Stanley set a $60.00 price objective on shares of CRISPR Therapeutics and gave the stock an “equal weight” rating in a report on Thursday, June 11th. Sanford C. Bernstein increased their target price on shares of CRISPR Therapeutics from $50.00 to $56.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. UBS Group set a $80.00 price target on shares of CRISPR Therapeutics in a research report on Friday, June 12th. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (up from $105.00) on shares of CRISPR Therapeutics in a research note on Tuesday, March 17th. Finally, Wall Street Zen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CRISPR Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $67.78.

CRISPR Therapeutics Price Performance

CRISPR Therapeutics stock opened at $60.08 on Friday. The firm has a market capitalization of $5.79 billion, a PE ratio of -9.66 and a beta of 1.71. CRISPR Therapeutics AG has a 52 week low of $44.12 and a 52 week high of $78.48. The firm’s 50-day simple moving average is $52.78 and its 200 day simple moving average is $53.07. The company has a quick ratio of 17.96, a current ratio of 17.97 and a debt-to-equity ratio of 0.32.

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

Insider Activity at CRISPR Therapeutics

In other news, insider Naimish Patel sold 3,786 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $55.62, for a total transaction of $210,577.32. Following the completion of the transaction, the insider directly owned 19,357 shares of the company’s stock, valued at $1,076,636.34. This trade represents a 16.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.30% of the stock is owned by corporate insiders.

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.