Cathie Wood Dumped These 3 Stocks in July

2. CRISPR Therapeutics AG (NASDAQ:CRSP)

Number of Hedge Fund Holders: 37

CRISPR Therapeutics AG (NASDAQ:CRSP) is a gene editing company that utilizes CRISPR/Cas9 technology to administer changes to genomic DNA. On June 23, Evercore ISI analyst Liisa Bayko downgraded CRISPR Therapeutics AG (NASDAQ:CRSP) to In Line from Outperform and slashed the price target to $60 from $66. The company made advancements to its gene-editing programs, and while she is “excited” about the expansion, the programs are still in early phases, the analyst said in a research note. She also cited competitive pressures, and said the T1D program won’t have much visibility until the end of 2023 at the earliest.

In the quarter ending June 2022, Cathie Wood owned a total of 9.7 million CRISPR Therapeutics AG (NASDAQ:CRSP) shares after strengthening her position by 4%. However, in July, Cathie Wood’s ARK Innovation ETF sold 137,836 shares of CRISPR Therapeutics AG (NASDAQ:CRSP). 

According to Insider Monkey’s data, 37 hedge funds reported owning stakes in CRISPR Therapeutics AG (NASDAQ:CRSP) at the end of Q1 2022, up from 34 funds in the preceding quarter. Steven Boyd’s Armistice Capital held a notable position in the company, comprising more than 1 million shares worth $64.2 million.