CRISPR Therapeutics (NASDAQ:CRSP) Announces Quarterly Earnings Results

CRISPR Therapeutics (NASDAQ:CRSP) released its quarterly earnings data on Monday. The company reported ($1.17) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.15, Zacks reports. The business had revenue of $0.89 million for the quarter, compared to the consensus estimate of $8.74 million. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.49%.

CRISPR Therapeutics Stock Up 1.2%

NASDAQ:CRSP opened at $55.21 on Wednesday. CRISPR Therapeutics has a 52 week low of $30.04 and a 52 week high of $78.48. The stock’s 50-day moving average price is $63.03 and its 200-day moving average price is $53.45. The stock has a market capitalization of $5.02 billion, a PE ratio of -9.88 and a beta of 1.89.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CRSP shares. Wedbush decreased their target price on shares of CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Chardan Capital reiterated a “buy” rating and set a $82.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, August 5th. Wells Fargo & Company set a $75.00 target price on CRISPR Therapeutics in a research note on Monday, October 13th. Royal Bank Of Canada raised their target price on CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, September 23rd. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.11.

Insider Transactions at CRISPR Therapeutics

In other news, General Counsel James R. Kasinger sold 1,076 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $66.60, for a total transaction of $71,661.60. Following the completion of the transaction, the general counsel directly owned 83,402 shares of the company’s stock, valued at $5,554,573.20. This represents a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Samarth Kulkarni sold 50,895 shares of CRISPR Therapeutics stock in a transaction on Friday, October 17th. The shares were sold at an average price of $67.91, for a total transaction of $3,456,279.45. Following the completion of the sale, the chief executive officer directly owned 254,201 shares in the company, valued at $17,262,789.91. This represents a 16.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 56,213 shares of company stock valued at $3,810,458 in the last ninety days. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strategic Wealth Investment Group LLC purchased a new stake in shares of CRISPR Therapeutics during the second quarter worth about $36,000. Daiwa Securities Group Inc. lifted its stake in CRISPR Therapeutics by 538.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,800 shares of the company’s stock valued at $88,000 after buying an additional 1,518 shares in the last quarter. Prudential Financial Inc. acquired a new stake in CRISPR Therapeutics in the 2nd quarter worth about $237,000. Corient Private Wealth LLC purchased a new stake in CRISPR Therapeutics during the 2nd quarter worth approximately $246,000. Finally, Cerity Partners LLC increased its stake in CRISPR Therapeutics by 3.0% during 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 in the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.