CRISPR Therapeutics AG (NASDAQ:CRSP) Position Reduced by ARK Investment Management LLC

ARK Investment Management LLC trimmed its stake in shares of CRISPR Therapeutics AG (NASDAQ:CRSP) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,498,625 shares of the company’s stock after selling 279,911 shares during the quarter. CRISPR Therapeutics makes up 3.2% of ARK Investment Management LLC’s investment portfolio, making the stock its 9th largest position. ARK Investment Management LLC owned approximately 8.83% of CRISPR Therapeutics worth $352,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Capital Advisors Inc. OK increased its position in shares of CRISPR Therapeutics by 8.1% in the third quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock valued at $14,122,000 after acquiring an additional 22,583 shares during the period. Congress Asset Management Co. increased its holdings in CRISPR Therapeutics by 2.8% during the 3rd quarter. Congress Asset Management Co. now owns 65,768 shares of the company’s stock valued at $3,090,000 after purchasing an additional 1,788 shares during the period. HM Payson & Co. increased its holdings in CRISPR Therapeutics by 115.7% during the 3rd quarter. HM Payson & Co. now owns 2,330 shares of the company’s stock valued at $109,000 after purchasing an additional 1,250 shares during the period. Pinnacle Associates Ltd. bought a new position in CRISPR Therapeutics during the 3rd quarter valued at approximately $188,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in CRISPR Therapeutics by 64.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,381 shares of the company’s stock worth $770,000 after buying an additional 6,405 shares during the period. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Stock Performance

NASDAQ CRSP opened at $51.88 on Friday. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -16.06 and a beta of 1.67. The stock has a 50-day moving average of $47.38 and a 200 day moving average of $52.24. CRISPR Therapeutics AG has a one year low of $43.42 and a one year high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.41. The company had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $6.65 million. During the same quarter in the prior year, the business posted ($1.41) EPS. On average, equities analysts predict that CRISPR Therapeutics AG will post -5.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus dropped their price target on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $53.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday. Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a research note on Thursday, August 8th. Rodman & Renshaw began coverage on CRISPR Therapeutics in a research report on Friday, August 2nd. They set a “buy” rating and a $90.00 price objective for the company. Finally, Truist Financial reduced their target price on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.94.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 4,293 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $198,680.04. Following the transaction, the chief executive officer now directly owns 226,540 shares in the company, valued at approximately $10,484,271.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 4,293 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $198,680.04. Following the completion of the sale, the chief executive officer now owns 226,540 shares in the company, valued at $10,484,271.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel James R. Kasinger sold 1,089 shares of CRISPR Therapeutics stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following the transaction, the general counsel now directly owns 62,597 shares in the company, valued at approximately $2,896,989.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

About CRISPR Therapeutics

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.