CRISPR Therapeutics (NASDAQ:CRSP) Announces Earnings Results

CRISPR Therapeutics (NASDAQ:CRSP) issued its quarterly earnings results on Monday. The company reported ($1.17) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.15, Zacks reports. CRISPR Therapeutics had a negative return on equity of 20.05% and a negative net margin of 1,229.43%.The business had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $8.74 million.

CRISPR Therapeutics Price Performance

Shares of CRSP stock traded down $0.50 during trading hours on Monday, hitting $54.62. The stock had a trading volume of 2,118,717 shares, compared to its average volume of 2,558,062. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of -10.06 and a beta of 1.89. CRISPR Therapeutics has a one year low of $30.04 and a one year high of $78.48. The stock’s 50-day moving average price is $62.93 and its two-hundred day moving average price is $53.22.

Insiders Place Their Bets

In other news, General Counsel James R. Kasinger sold 1,076 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total value of $71,661.60. Following the sale, the general counsel directly owned 83,402 shares in the company, valued at $5,554,573.20. The trade was a 1.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Samarth Kulkarni sold 50,895 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 254,201 shares of the company’s stock, valued at approximately $17,262,789.91. The trade was a 16.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 56,213 shares of company stock valued at $3,810,458. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CRSP. Strategic Wealth Investment Group LLC purchased a new position in CRISPR Therapeutics during the 2nd quarter worth $36,000. Daiwa Securities Group Inc. grew its position in shares of CRISPR Therapeutics by 538.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,800 shares of the company’s stock worth $88,000 after buying an additional 1,518 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of CRISPR Therapeutics during the second quarter valued at $237,000. Corient Private Wealth LLC bought a new stake in shares of CRISPR Therapeutics in the second quarter valued at about $246,000. Finally, Cerity Partners LLC lifted its stake in CRISPR Therapeutics by 3.0% in the second quarter. Cerity Partners LLC now owns 6,541 shares of the company’s stock worth $318,000 after acquiring an additional 190 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CRSP. Chardan Capital reissued a “buy” rating and issued a $82.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, August 5th. Needham & Company LLC reduced their price objective on shares of CRISPR Therapeutics from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Wednesday, October 8th. Barclays upped their target price on shares of CRISPR Therapeutics from $42.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Finally, Wedbush decreased their price target on CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Eleven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CRISPR Therapeutics currently has a consensus rating of “Hold” and an average price target of $69.00.

About CRISPR Therapeutics

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.