CRISPR Therapeutics (NASDAQ:CRSP) Announces Quarterly Earnings Results

CRISPR Therapeutics (NASDAQ:CRSP) posted its quarterly earnings data 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. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.23%. The firm had revenue of $0.86 million for the quarter, compared to the consensus estimate of $4.72 million. During the same period in the previous year, the firm posted ($1.01) earnings per share. The business’s revenue was down 97.8% compared to the same quarter last year.

CRISPR Therapeutics Price Performance

Shares of CRISPR Therapeutics stock opened at $48.93 on Friday. CRISPR Therapeutics has a 1 year low of $30.04 and a 1 year high of $78.48. The firm’s 50-day moving average is $54.29 and its 200 day moving average is $57.44. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of -8.75 and a beta of 1.72.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 60,000 shares of CRISPR Therapeutics stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 134,201 shares of the company’s stock, valued at approximately $8,082,926.23. The trade was a 30.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CRSP. Los Angeles Capital Management LLC purchased a new stake in CRISPR Therapeutics during the 4th quarter valued at $37,000. Strategic Wealth Investment Group LLC bought a new position in shares of CRISPR Therapeutics during the second quarter valued at $36,000. Daiwa Securities Group Inc. lifted its holdings in shares of CRISPR Therapeutics by 538.3% during the second 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 in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of 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 buying an additional 292 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in CRISPR Therapeutics in the 4th quarter worth about $165,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRSP shares. 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 report on Wednesday, November 26th. Robert W. Baird lowered their price objective on CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday, January 21st. Citizens Jmp decreased their price target on shares of CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a research note on Friday, January 30th. Finally, Citigroup reissued a “market outperform” rating on shares of CRISPR Therapeutics in a research note on Friday, January 30th. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, CRISPR Therapeutics has an average rating of “Hold” and an average price target of $67.94.

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 ?-thalassemia in collaboration with Vertex Pharmaceuticals.