CRISPR Therapeutics (NASDAQ:CRSP) Announces Quarterly Earnings Results

CRISPR Therapeutics (NASDAQ:CRSP) issued its quarterly earnings results on Thursday. The company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.21), FiscalAI reports. CRISPR Therapeutics had a negative return on equity of 21.23% and a negative net margin of 1,273.70%.The business had revenue of $0.86 million for the quarter.

CRISPR Therapeutics Stock Up 1.3%

Shares of NASDAQ:CRSP traded up $0.61 during midday trading on Thursday, reaching $48.93. The company’s stock had a trading volume of 1,524,216 shares, compared to its average volume of 1,780,690. The stock has a fifty day moving average of $54.48 and a 200 day moving average of $57.50. CRISPR Therapeutics has a twelve month low of $30.04 and a twelve month high of $78.48. The firm has a market capitalization of $4.66 billion, a PE ratio of -8.75 and a beta of 1.72.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Citizens Jmp reduced their target price on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Friday, January 30th. Chardan Capital dropped their price target on CRISPR Therapeutics from $82.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Needham & Company LLC restated a “buy” rating and set a $80.00 price objective on shares of CRISPR Therapeutics in a report on Tuesday, December 23rd. Wedbush lowered their target price on shares of CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Finally, Bank of America cut their price target on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Eleven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $66.78.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 60,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $60.23, for a total value of $3,613,800.00. Following the sale, the chief executive officer directly owned 134,201 shares of the company’s stock, valued at approximately $8,082,926.23. This represents a 30.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of CRISPR Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategic Wealth Investment Group LLC acquired a new position in CRISPR Therapeutics in the second quarter valued at approximately $36,000. Los Angeles Capital Management LLC acquired a new stake in CRISPR Therapeutics during the fourth quarter valued at $37,000. Daiwa Securities Group Inc. increased its holdings in CRISPR Therapeutics by 538.3% in the second quarter. Daiwa Securities Group Inc. now owns 1,800 shares of the company’s stock valued at $88,000 after buying an additional 1,518 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of CRISPR Therapeutics by 10.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,053 shares of the company’s stock worth $160,000 after acquiring an additional 292 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of CRISPR Therapeutics during the 4th quarter worth about $165,000. 69.20% of the stock is owned by institutional investors and hedge funds.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.