CRISPR Therapeutics (NASDAQ:CRSP) Issues Earnings Results

CRISPR Therapeutics (NASDAQ:CRSP) issued its quarterly earnings results on Thursday. The company reported ($1.37) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($0.22), FiscalAI reports. The firm had revenue of $0.86 million for the quarter, compared to analysts’ expectations of $4.72 million. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. CRISPR Therapeutics’s revenue for the quarter was down 97.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.01) EPS.

CRISPR Therapeutics Trading Up 1.3%

Shares of CRISPR Therapeutics stock opened at $48.93 on Friday. The firm has a market cap of $4.66 billion, a PE ratio of -8.75 and a beta of 1.72. The stock has a 50 day moving average of $54.29 and a 200 day moving average of $57.44. CRISPR Therapeutics has a 12 month low of $30.04 and a 12 month high of $78.48.

Wall Street Analysts Forecast Growth

CRSP has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $80.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, December 23rd. Citigroup restated a “market outperform” rating on shares of CRISPR Therapeutics in a research report on Friday, January 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday, January 21st. Citizens Jmp decreased their target price on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating on the stock in a research note on Friday, January 30th. Finally, Bank of America dropped their price target on CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $67.82.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $60.23, for a total transaction of $3,613,800.00. Following the sale, the chief executive officer directly owned 134,201 shares of the company’s stock, valued at $8,082,926.23. This represents a 30.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Institutional investors have recently bought and sold shares of the business. Cerity Partners LLC increased its holdings in shares of CRISPR Therapeutics by 3.0% in the 2nd quarter. Cerity Partners LLC now owns 6,541 shares of the company’s stock worth $318,000 after buying an additional 190 shares during the last quarter. Peapack Gladstone Financial Corp increased its stake in CRISPR Therapeutics by 3.0% during the second quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company’s stock worth $339,000 after acquiring an additional 200 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in CRISPR Therapeutics by 6.6% during the fourth quarter. Meeder Advisory Services Inc. now owns 4,392 shares of the company’s stock worth $230,000 after acquiring an additional 270 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in CRISPR Therapeutics by 10.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,053 shares of the company’s stock valued at $160,000 after purchasing an additional 292 shares during the period. Finally, Advisory Services Network LLC lifted its stake in shares of CRISPR Therapeutics by 2.6% in the 3rd quarter. Advisory Services Network LLC now owns 13,820 shares of the company’s stock valued at $896,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

About CRISPR Therapeutics

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.