S&P 500 may face selling pressure as systematic funds reach full exposure
Bruno Julianne, the Chief Operating Officer of CRISPR Therapeutics AG (NASDAQ:CRSP), a $4.55 billion gene-editing company whose stock has surged over 32% year-to-date, recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro analysis, the stock is currently trading above its Fair Value, with technical indicators suggesting overbought conditions. On February 18, Julianne acquired 650 common shares through the vesting of restricted stock units. The following day, February 19, Julianne sold 333 common shares at a price of $52.8 per share, totaling $17,582. This sale was made to cover tax withholding obligations as mandated by the company’s RSU Settlement Policy, rather than as a discretionary trade. Following these transactions, Julianne holds 7,062 shares directly and 7,088 shares indirectly through The Julianne Bruno 2022 GRAT. For deeper insights into CRSP’s valuation and 12+ additional ProTips, visit InvestingPro, where you’ll find comprehensive analysis and the exclusive Pro Research Report.
In other recent news, CRISPR Therapeutics has been the subject of various analyst reviews and stock rating adjustments. Citi analysts maintained a Buy rating on CRISPR Therapeutics, although they lowered the price target to $82, citing the company’s pipeline progress and the limited patient treatment numbers for Casgevy. Evercore ISI upgraded the stock from In Line to Outperform, raising the price target to $99 due to optimism about upcoming catalysts, including in vivo programs CTX320 and CTX310. Meanwhile, Stifel reduced their price target to $49 while maintaining a Hold rating, expressing caution about the market uptake of Casgevy but acknowledging potential in the company’s pipeline.
TD Cowen upgraded CRISPR Therapeutics’ stock rating from Sell to Hold, keeping the price target steady at $35, reflecting reduced downside risk. The analysts at TD Cowen emphasized the importance of the company’s management in demonstrating the value of their early-stage pipeline or accelerating Casgevy’s launch. CRISPR Therapeutics has reported growth in Casgevy cell collections, with over 50 new collections in the final weeks of the fourth quarter. The company’s cash reserve of $1.9 billion supports its research and development activities, which are closely watched by analysts. These developments suggest a dynamic period ahead for CRISPR Therapeutics, with significant attention on its pipeline and strategic direction.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.