CRISPR Therapeutics (NASDAQ:CRSP) Releases Earnings Results, Misses Expectations By $0.06 EPS

CRISPR Therapeutics (NASDAQ:CRSP) issued its quarterly earnings data on Tuesday. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.06), FiscalAI reports. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.53%. The company had revenue of $1.46 million for the quarter, compared to the consensus estimate of $6.06 million. During the same quarter in the prior year, the firm earned ($1.58) earnings per share. CRISPR Therapeutics’s revenue for the quarter was up 68.6% compared to the same quarter last year.

CRISPR Therapeutics Stock Up 2.1%

CRISPR Therapeutics stock traded up $1.11 during midday trading on Wednesday, hitting $53.49. The company’s stock had a trading volume of 402,766 shares, compared to its average volume of 1,873,125. The stock’s 50-day moving average price is $52.41 and its 200-day moving average price is $54.60. CRISPR Therapeutics has a 12 month low of $33.50 and a 12 month high of $78.48. The company has a market capitalization of $5.16 billion, a PE ratio of -8.60 and a beta of 1.74.

Insiders Place Their Bets

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 3,182 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $46.78, for a total value of $148,853.96. Following the sale, the general counsel directly owned 94,308 shares in the company, valued at approximately $4,411,728.24. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Naimish Patel sold 3,150 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $48.26, for a total value of $152,019.00. Following the completion of the transaction, the insider directly owned 13,143 shares in the company, valued at $634,281.18. This represents a 19.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 51,828 shares of company stock worth $2,578,097. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of CRISPR Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mcguire Capital Advisors Inc. acquired a new stake in CRISPR Therapeutics during the 4th quarter worth about $25,000. Strategic Wealth Investment Group LLC acquired a new stake in CRISPR Therapeutics during the 2nd quarter valued at $36,000. Los Angeles Capital Management LLC acquired a new stake in CRISPR Therapeutics during the 4th quarter valued at $37,000. EFG International AG acquired a new stake in CRISPR Therapeutics during the 4th quarter valued at $72,000. Finally, Daiwa Securities Group Inc. raised its stake in CRISPR Therapeutics by 538.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,800 shares of the company’s stock valued at $88,000 after purchasing an additional 1,518 shares during the period. Institutional investors and hedge funds own 69.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CRSP shares. Citizens Jmp cut their price objective on shares of 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. Piper Sandler reissued an “overweight” rating and set a $110.00 target price (up from $105.00) on shares of CRISPR Therapeutics in a report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a report on Monday, April 20th. Chardan Capital boosted their target price on CRISPR Therapeutics from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Saturday, February 14th. Finally, Needham & Company LLC boosted their target price on CRISPR Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.53.

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.