Cresset Asset Management LLC Sells 12,037 Shares of CRISPR Therapeutics AG (NASDAQ:CRSP)

Cresset Asset Management LLC trimmed its position in CRISPR Therapeutics AG (NASDAQ:CRSP) by 44.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,042 shares of the company’s stock after selling 12,037 shares during the period. Cresset Asset Management LLC’s holdings in CRISPR Therapeutics were worth $592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Western Pacific Wealth Management LP increased its position in CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $39,000 after buying an additional 500 shares in the last quarter. Spire Wealth Management increased its position in CRISPR Therapeutics by 303.7% in the 4th quarter. Spire Wealth Management now owns 1,970 shares of the company’s stock valued at $78,000 after buying an additional 1,482 shares in the last quarter. MCF Advisors LLC bought a new stake in CRISPR Therapeutics in the 4th quarter valued at about $80,000. First Horizon Advisors Inc. increased its position in CRISPR Therapeutics by 33.4% in the 4th quarter. First Horizon Advisors Inc. now owns 2,039 shares of the company’s stock valued at $80,000 after buying an additional 511 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in CRISPR Therapeutics by 91.1% in the 4th quarter. AdvisorNet Financial Inc now owns 2,478 shares of the company’s stock valued at $98,000 after buying an additional 1,181 shares in the last quarter. 69.20% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Samarth Kulkarni sold 18,360 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total value of $1,013,472.00. Following the transaction, the chief executive officer now owns 171,613 shares in the company, valued at approximately $9,473,037.60. This represents a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel James R. Kasinger sold 2,850 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total value of $120,897.00. Following the completion of the transaction, the general counsel now owns 77,530 shares in the company, valued at approximately $3,288,822.60. The trade was a 3.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,381 shares of company stock valued at $1,608,243 over the last three months. Corporate insiders own 4.30% of the company’s stock.

CRISPR Therapeutics Stock Down 1.0%

CRSP stock opened at $37.22 on Wednesday. The firm has a market cap of $3.21 billion, a PE ratio of -8.52 and a beta of 1.88. The business has a 50 day moving average of $38.03 and a 200-day moving average of $42.64. CRISPR Therapeutics AG has a 12-month low of $30.04 and a 12-month high of $67.88.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. CRISPR Therapeutics’s quarterly revenue was up 71.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.43) earnings per share. On average, research analysts expect that CRISPR Therapeutics AG will post -5.16 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CRSP. StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research report on Friday, March 21st. JMP Securities reissued a “market outperform” rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a report on Thursday, February 13th. HC Wainwright reissued a “buy” rating and set a $65.00 price objective on shares of CRISPR Therapeutics in a report on Thursday, February 13th. Morgan Stanley boosted their price objective on CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, February 14th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of CRISPR Therapeutics in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, CRISPR Therapeutics has an average rating of “Hold” and an average price target of $71.75.

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.