CRISPR Therapeutics (NASDAQ:CRSP) Announces Earnings Results

CRISPR Therapeutics (NASDAQ:CRSP) released its earnings results on Wednesday. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08), Briefing.com reports. The business had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $25.53 million. During the same period in the previous year, the company earned ($0.67) earnings per share. The business’s revenue for the quarter was down 99.5% on a year-over-year basis.

CRISPR Therapeutics Stock Down 2.0 %

NASDAQ:CRSP traded down $1.04 during trading hours on Thursday, reaching $52.25. The company had a trading volume of 880,100 shares, compared to its average volume of 1,750,934. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of -26.72 and a beta of 1.80. The business’s 50-day simple moving average is $65.81 and its two-hundred day simple moving average is $64.64. CRISPR Therapeutics has a twelve month low of $37.55 and a twelve month high of $91.10.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CRSP shares. Needham & Company LLC cut their price objective on shares of CRISPR Therapeutics from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday. Chardan Capital boosted their price objective on shares of CRISPR Therapeutics from $110.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. TheStreet raised shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a research report on Friday, February 23rd. Mizuho boosted their price objective on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley boosted their price objective on shares of CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $73.33.

Insiders Place Their Bets

In related news, CEO Samarth Kulkarni sold 20,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the chief executive officer now directly owns 187,377 shares of the company’s stock, valued at approximately $15,057,615.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,913 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $79.67, for a total transaction of $152,408.71. Following the completion of the transaction, the general counsel now owns 57,371 shares in the company, valued at $4,570,747.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Samarth Kulkarni sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the completion of the sale, the chief executive officer now directly owns 187,377 shares in the company, valued at approximately $15,057,615.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,992 shares of company stock worth $6,132,335. 4.10% of the stock is currently owned by company insiders.

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.