Baillie Gifford & Co. Trims Stake in CRISPR Therapeutics AG (NASDAQ:CRSP)

Baillie Gifford & Co. reduced its position in CRISPR Therapeutics AG (NASDAQ:CRSP) by 6.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 395,915 shares of the company’s stock after selling 26,848 shares during the period. Baillie Gifford & Co. owned 0.47% of CRISPR Therapeutics worth $26,986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. ARK Investment Management LLC increased its position in CRISPR Therapeutics by 19.2% in the 4th quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock valued at $534,360,000 after acquiring an additional 1,372,986 shares during the period. Capital International Investors increased its position in CRISPR Therapeutics by 0.8% in the 4th quarter. Capital International Investors now owns 6,134,450 shares of the company’s stock valued at $384,017,000 after acquiring an additional 48,938 shares during the period. Vanguard Group Inc. increased its position in CRISPR Therapeutics by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 1,590,651 shares of the company’s stock valued at $99,575,000 after acquiring an additional 51,926 shares during the period. Charles Schwab Investment Management Inc. increased its position in CRISPR Therapeutics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 653,023 shares of the company’s stock valued at $40,879,000 after acquiring an additional 15,085 shares during the period. Finally, Norges Bank acquired a new position in CRISPR Therapeutics in the 4th quarter valued at about $38,661,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Julianne Bruno sold 3,366 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the transaction, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Julianne Bruno sold 3,366 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the sale, the chief operating officer now directly owns 6,745 shares in the company, valued at approximately $378,327.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 19,582 shares of the 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 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. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird boosted their price target on CRISPR Therapeutics from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Oppenheimer dropped their target price on CRISPR Therapeutics from $102.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Barclays dropped their target price on CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Finally, Guggenheim reiterated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus price target of $75.71.

CRISPR Therapeutics Trading Down 1.5 %

Shares of CRISPR Therapeutics stock traded down $0.80 during trading hours on Friday, reaching $53.10. 1,078,291 shares of the company’s stock were exchanged, compared to its average volume of 1,287,971. CRISPR Therapeutics AG has a 52-week low of $37.55 and a 52-week high of $91.10. The company has a fifty day moving average of $56.57 and a 200-day moving average of $64.20.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. The firm’s revenue for the quarter was down 99.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.67) earnings per share. Analysts anticipate that CRISPR Therapeutics AG will post -5.51 earnings per share for the current year.

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.