CRISPR Therapeutics (NASDAQ:CRSP) Posts Earnings Results, Misses Estimates By $0.06 EPS

Key Points

• CRISPR reported adjusted EPS of -$1.28, missing the consensus of -$1.22 by $0.06, and revenue of $1.46M versus expectations of $6.06M, leaving the company with extremely negative margins and return on equity.
• Despite the miss, CRSP traded up about 3.8% to $53.58 midday; the company has a market cap of $5.17B, a negative P/E, and a 52-week range of $33.03–$78.48.
• Analysts are broadly constructive with an average rating of “Moderate Buy” and an average price target of $64.53, while insiders have been selling recently (51,828 shares sold in the past 90 days), leaving insiders with 4.10% ownership.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) announced its earnings results on Monday. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.22) by ($0.06), FiscalAI reports. CRISPR Therapeutics had a negative net margin of 16,569.77% and a negative return on equity of 26.31%. The business had revenue of $1.46 million for the quarter, compared to analysts' expectations of $6.06 million.

CRISPR Therapeutics Trading Up 3.8%

CRSP stock traded up $1.95 during midday trading on Monday, reaching $53.58. The stock had a trading volume of 1,710,977 shares, compared to its average volume of 1,876,676. The company's fifty day simple moving average is $52.43 and its 200 day simple moving average is $54.74. The company has a market cap of $5.17 billion, a price-to-earnings ratio of -8.22 and a beta of 1.74. CRISPR Therapeutics has a 52-week low of $33.03 and a 52-week high of $78.48.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRSP. Piper Sandler reiterated an "overweight" rating and set a $110.00 target price (up from $105.00) on shares of CRISPR Therapeutics in a research report on Tuesday, March 17th. Truist Financial raised shares of CRISPR Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. TD Cowen raised their price target on shares of CRISPR Therapeutics from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Friday, February 13th. Bank of America decreased their price target on shares of CRISPR Therapeutics from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Thursday, January 22nd. Finally, Citigroup reaffirmed a "buy" rating on shares of CRISPR Therapeutics in a research note on Monday, February 16th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, CRISPR Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $64.53.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 3,450 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $48.26, for a total value of $166,497.00. Following the transaction, the general counsel directly owned 91,240 shares of the company's stock, valued at $4,403,242.40. This trade represents a 3.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Naimish Patel sold 3,150 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $48.26, for a total transaction of $152,019.00. Following the completion of the transaction, the insider directly owned 13,143 shares in the company, valued at $634,281.18. This trade represents a 19.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 51,828 shares of company stock worth $2,578,097. Corporate insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mcguire Capital Advisors Inc. purchased a new position in CRISPR Therapeutics in the 4th quarter worth approximately $25,000. Strategic Wealth Investment Group LLC purchased a new position in shares of CRISPR Therapeutics during the 2nd quarter worth $36,000. Los Angeles Capital Management LLC purchased a new position in shares of CRISPR Therapeutics during the 4th quarter worth $37,000. EFG International AG purchased a new position in shares of CRISPR Therapeutics during the 4th quarter worth $72,000. Finally, Daiwa Securities Group Inc. raised its holdings 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 acquiring an additional 1,518 shares during the period. 69.20% of the stock is owned by hedge funds and other institutional investors.

About CRISPR Therapeutics

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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