California Public Employees Retirement System Sells 4,440 Shares of CRISPR Therapeutics AG (NASDAQ:CRSP)

California Public Employees Retirement System reduced its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,729 shares of the company’s stock after selling 4,440 shares during the quarter. California Public Employees Retirement System owned 0.14% of CRISPR Therapeutics worth $6,744,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CRSP. ARK Investment Management LLC raised its holdings in CRISPR Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after buying an additional 1,372,986 shares during the period. Westfield Capital Management Co. LP acquired a new position in CRISPR Therapeutics in the 3rd quarter worth $13,506,000. Baillie Gifford & Co. boosted its stake in CRISPR Therapeutics by 81.1% in the 3rd quarter. Baillie Gifford & Co. now owns 441,063 shares of the company’s stock worth $20,020,000 after purchasing an additional 197,469 shares during the period. Barclays PLC increased its holdings in CRISPR Therapeutics by 36.9% during the 3rd quarter. Barclays PLC now owns 510,832 shares of the company’s stock worth $23,186,000 after purchasing an additional 137,629 shares in the last quarter. Finally, Armistice Capital LLC raised its stake in shares of CRISPR Therapeutics by 20.0% in the 3rd quarter. Armistice Capital LLC now owns 600,012 shares of the company’s stock valued at $27,235,000 after purchasing an additional 100,012 shares during the period. Institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ:CRSP opened at $55.89 on Friday. The firm has a market cap of $4.74 billion, a PE ratio of -28.52 and a beta of 1.80. CRISPR Therapeutics AG has a 52 week low of $37.55 and a 52 week high of $91.10. The firm’s fifty day moving average is $67.75 and its 200-day moving average is $64.17.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Wednesday, February 21st. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.95. The company had revenue of $201.20 million during the quarter, compared to the consensus estimate of $148.72 million. During the same quarter last year, the firm posted ($1.41) EPS. The company’s quarterly revenue was up 3253.3% on a year-over-year basis. Sell-side analysts forecast that CRISPR Therapeutics AG will post -6.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Chardan Capital increased their target price on shares of CRISPR Therapeutics from $110.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Wells Fargo & Company raised their target price on shares of CRISPR Therapeutics from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Royal Bank of Canada upped their price objective on CRISPR Therapeutics from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. Wolfe Research began coverage on shares of CRISPR Therapeutics in a report on Thursday, February 15th. They set a “peer perform” rating on the stock. Finally, Mizuho boosted their price target on CRISPR Therapeutics from $82.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.29.

Insider Buying and Selling at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 19,582 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $59.91, for a total value of $1,173,157.62. Following the sale, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at approximately $12,468,589.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 2,801 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $78.26, for a total value of $219,206.26. Following the transaction, the general counsel now directly owns 60,070 shares of the company’s stock, valued at $4,701,078.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Samarth Kulkarni sold 19,582 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the completion of the sale, the chief executive officer now owns 208,122 shares of the company’s stock, valued at $12,468,589.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,992 shares of company stock valued at $6,132,335. 4.10% of the stock is currently owned by company insiders.

CRISPR Therapeutics Company 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.