CRISPR Therapeutics (NASDAQ:CRSP) Releases Quarterly Earnings Results

CRISPR Therapeutics (NASDAQ:CRSP) released its earnings results on Monday. The company reported ($0.94) EPS for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.26, FiscalAI reports. CRISPR Therapeutics had a negative return on equity of 25.66% and a negative net margin of 13,856.54%.The firm had revenue of $10.18 million for the quarter, compared to analysts’ expectations of $7.45 million.

CRISPR Therapeutics Stock Up 3.3%

Shares of CRSP traded up $1.58 during midday trading on Monday, reaching $49.57. 1,388,603 shares of the stock were exchanged, compared to its average volume of 1,807,488. The company has a market capitalization of $4.78 billion, a P/E ratio of -7.97 and a beta of 1.74. The company has a current ratio of 17.97, a quick ratio of 17.96 and a debt-to-equity ratio of 0.32. CRISPR Therapeutics has a 52 week low of $44.12 and a 52 week high of $78.48. The company’s 50 day moving average is $52.52 and its two-hundred day moving average is $52.40.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRSP. Sanford C. Bernstein raised their price target on CRISPR Therapeutics from $50.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $80.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, July 6th. Citigroup reiterated a “market outperform” rating on shares of CRISPR Therapeutics in a research note on Wednesday, July 22nd. Evercore reiterated an “outperform” rating and set a $76.00 target price on shares of CRISPR Therapeutics in a research report on Monday, May 11th. Finally, Wall Street Zen lowered shares of CRISPR Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.78.

Insider Buying and Selling at CRISPR Therapeutics

In related news, insider Naimish Patel sold 3,786 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $55.62, for a total value of $210,577.32. Following the completion of the sale, the insider directly owned 19,357 shares of the company’s stock, valued at $1,076,636.34. This represents a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Meeder Advisory Services Inc. lifted its position in shares of CRISPR Therapeutics by 6.6% in the 4th quarter. Meeder Advisory Services Inc. now owns 4,392 shares of the company’s stock worth $230,000 after purchasing an additional 270 shares during the period. CreativeOne Wealth LLC purchased a new position in CRISPR Therapeutics during the fourth quarter valued at approximately $222,000. Twinbeech Capital LP bought a new position in CRISPR Therapeutics in the fourth quarter worth approximately $214,000. Brooklyn Investment Group purchased a new stake in CRISPR Therapeutics during the fourth quarter worth $208,000. Finally, Empowered Funds LLC bought a new stake in CRISPR Therapeutics during the 4th quarter valued at $165,000. Hedge funds and other 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 ?-thalassemia in collaboration with Vertex Pharmaceuticals.