CRISPR Therapeutics (NASDAQ:CRSP) Announces Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Key Points

• CRISPR Therapeutics beat quarterly expectations: It reported an adjusted loss of $0.94 per share versus the $1.20 consensus loss, while revenue of $10.18 million exceeded estimates of $7.45 million.
• Shares rose 3.3% to $49.57 following the results, though the stock remains well below its 52-week high of $78.48. Analysts maintain a “Moderate Buy” consensus with an average price target of $67.78.
• Financial results remain pressured: The company posted a deeply negative net margin and return on equity, while insider Naimish Patel sold shares to cover tax obligations; institutional investors own 69.2% of the stock.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.20) by $0.26, FiscalAI reports. The company had revenue of $10.18 million for the quarter, compared to the consensus estimate of $7.45 million. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%.

CRISPR Therapeutics Trading Up 3.3%

CRSP stock traded up $1.58 during midday trading on Monday, reaching $49.57. 1,388,603 shares of the company traded hands, compared to its average volume of 1,807,488. CRISPR Therapeutics has a 52-week low of $44.12 and a 52-week high of $78.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 17.96 and a current ratio of 17.97. The business has a 50 day moving average of $52.52 and a 200-day moving average of $52.40. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of -7.97 and a beta of 1.74.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CRSP shares. Citigroup restated a "market outperform" rating on shares of CRISPR Therapeutics in a research report on Wednesday, July 22nd. UBS Group set a $80.00 price target on CRISPR Therapeutics in a research note on Friday, June 12th. Wall Street Zen cut CRISPR Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, July 5th. Sanford C. Bernstein lifted their price objective 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. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CRISPR Therapeutics in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CRISPR Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $67.78.

Insider Activity

In other news, insider Naimish Patel sold 3,786 shares of CRISPR Therapeutics stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $55.62, for a total value of $210,577.32. Following the completion of the transaction, the insider owned 19,357 shares in the company, valued at approximately $1,076,636.34. The trade was a 16.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Trading of CRISPR Therapeutics

Institutional investors have recently bought and sold shares of the stock. Mcguire Capital Advisors Inc. bought a new position in CRISPR Therapeutics during the fourth quarter valued at $25,000. Los Angeles Capital Management LLC bought a new stake in shares of CRISPR Therapeutics in the 4th quarter worth about $37,000. Strategic Wealth Investment Group LLC bought a new stake in shares of CRISPR Therapeutics in the 2nd quarter worth about $36,000. EFG International AG purchased a new position in shares of CRISPR Therapeutics during the 4th quarter worth about $72,000. Finally, Daiwa Securities Group Inc. boosted its stake 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 purchasing an additional 1,518 shares during the period. 69.20% of the stock is currently owned by institutional investors.

CRISPR Therapeutics Company Profile

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 β-thalassemia in collaboration with Vertex Pharmaceuticals.

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