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

CRISPR Therapeutics (NASDAQ:CRSP) announced its quarterly earnings data on Monday. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.06), FiscalAI reports. The firm had revenue of $1.46 million during the quarter, compared to analyst estimates of $6.06 million. CRISPR Therapeutics had a negative return on equity of 26.31% and a negative net margin of 16,569.77%.

CRISPR Therapeutics Price Performance

Shares of CRISPR Therapeutics stock traded up $1.95 during trading on Monday, hitting $53.58. 1,710,977 shares of the company were exchanged, compared to its average volume of 1,876,676. The firm has a market capitalization of $5.17 billion, a P/E ratio of -8.22 and a beta of 1.74. CRISPR Therapeutics has a 1-year low of $33.03 and a 1-year high of $78.48. The firm’s fifty day moving average price is $52.43 and its 200 day moving average price is $54.74.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 10,349 shares of CRISPR Therapeutics stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $48.26, for a total transaction of $499,442.74. Following the transaction, the chief executive officer owned 245,834 shares in the company, valued at $11,863,948.84. The trade was a 4.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Naimish Patel sold 3,150 shares of CRISPR Therapeutics stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $48.26, for a total value of $152,019.00. Following the transaction, the insider owned 13,143 shares in the company, valued at $634,281.18. This trade represents a 19.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 51,828 shares of company stock worth $2,578,097. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors have recently modified their holdings of CRSP. Cerity Partners LLC lifted its stake in CRISPR Therapeutics by 3.0% in the 2nd quarter. Cerity Partners LLC now owns 6,541 shares of the company’s stock valued at $318,000 after acquiring an additional 190 shares in the last quarter. Peapack Gladstone Financial Corp lifted its stake in CRISPR Therapeutics by 3.0% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 6,973 shares of the company’s stock valued at $339,000 after acquiring an additional 200 shares in the last quarter. Meeder Advisory Services Inc. lifted its stake in CRISPR Therapeutics by 6.6% in the 4th quarter. Meeder Advisory Services Inc. now owns 4,392 shares of the company’s stock valued at $230,000 after acquiring an additional 270 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in CRISPR Therapeutics by 10.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,053 shares of the company’s stock valued at $160,000 after acquiring an additional 292 shares in the last quarter. Finally, Advisory Services Network LLC lifted its stake in 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 acquiring an additional 350 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Monday, April 20th. 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 research report on Friday, February 13th. Citizens Jmp decreased their target price on CRISPR Therapeutics from $86.00 to $80.00 and set a “market outperform” rating for the company in a research report on Friday, January 30th. Bank of America decreased their target price on CRISPR Therapeutics from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $110.00 target price (up from $105.00) on shares of CRISPR Therapeutics in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, CRISPR Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.53.

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 ?-thalassemia in collaboration with Vertex Pharmaceuticals.