CRISPR Therapeutics (NASDAQ:CRSP) Issues Quarterly Earnings Results

CRISPR Therapeutics (NASDAQ:CRSP) announced its quarterly earnings results on Tuesday. The company reported ($1.01) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.41, Briefing.com reports. The company had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. During the same period in the prior year, the business posted ($1.41) earnings per share.

CRISPR Therapeutics Price Performance

CRISPR Therapeutics stock traded down $0.03 during trading on Wednesday, reaching $50.33. 1,234,542 shares of the company were exchanged, compared to its average volume of 1,450,949. The stock’s 50 day simple moving average is $47.22 and its two-hundred day simple moving average is $52.25. The company has a market capitalization of $4.28 billion, a P/E ratio of -15.48 and a beta of 1.67. CRISPR Therapeutics has a 52-week low of $43.42 and a 52-week high of $91.10.

Insiders Place Their Bets

In related news, General Counsel James R. Kasinger sold 1,089 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following the transaction, the general counsel now directly owns 62,597 shares in the company, valued at approximately $2,896,989.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Samarth Kulkarni sold 4,293 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $198,680.04. Following the completion of the transaction, the chief executive officer now directly owns 226,540 shares in the company, valued at $10,484,271.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 1,089 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following the transaction, the general counsel now directly owns 62,597 shares in the company, valued at approximately $2,896,989.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics in a research report on Wednesday. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research note on Tuesday, October 29th. Chardan Capital dropped their price target on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Stifel Nicolaus cut their price objective on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Finally, Barclays lowered their target price on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, CRISPR Therapeutics currently has an average rating of “Hold” and a consensus price target of $74.94.

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.