CRISPR Therapeutics (NASDAQ:CRSP) Issues Earnings Results

Key Points

• CRISPR Therapeutics missed quarterly expectations: It reported an adjusted loss of $1.15 per share versus the $1.04 consensus loss estimate, while revenue of $12.67 million fell short of the $14.75 million forecast.
• Shares declined after the report, trading down $1.43 to $49.99. The stock has a market capitalization of approximately $4.83 billion and has traded between $44.12 and $64.74 over the past year.
• Analysts maintain a generally favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $65.75, although insiders sold 93,558 shares worth approximately $4.9 million over the past 90 days.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.04) by ($0.11), FiscalAI reports. The business had revenue of $12.67 million during the quarter, compared to analyst estimates of $14.75 million. CRISPR Therapeutics had a negative net margin of 3,368.72% and a negative return on equity of 24.39%.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ CRSP traded down $1.43 during midday trading on Monday, reaching $49.99. The company's stock had a trading volume of 1,015,071 shares, compared to its average volume of 1,723,117. The firm has a 50 day moving average price of $54.19 and a 200-day moving average price of $52.92. The stock has a market capitalization of $4.83 billion, a P/E ratio of -10.50 and a beta of 1.76. CRISPR Therapeutics has a 12-month low of $44.12 and a 12-month high of $64.74. The company has a debt-to-equity ratio of 0.34, a current ratio of 17.85 and a quick ratio of 17.85.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CRSP shares. Citigroup reissued a "market outperform" rating on shares of CRISPR Therapeutics in a research note on Monday, September 28th. UBS Group began coverage on shares of CRISPR Therapeutics in a research report on Thursday, October 15th. They set a "neutral" rating and a $52.00 price objective on the stock. Wall Street Zen upgraded CRISPR Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. HC Wainwright reaffirmed a "buy" rating on shares of CRISPR Therapeutics in a research report on Friday, October 9th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 price target on shares of CRISPR Therapeutics in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, CRISPR Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $65.75.

Insiders Place Their Bets

In other news, Director Ali Behbahani sold 13,679 shares of CRISPR Therapeutics stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $57.09, for a total transaction of $780,934.11. Following the sale, the director directly owned 16,637 shares in the company, valued at $949,806.33. The trade was a 45.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel James Kasinger sold 10,400 shares of the business's stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $60.24, for a total transaction of $626,496.00. Following the completion of the transaction, the general counsel directly owned 94,784 shares in the company, valued at $5,709,788.16. This trade represents a 9.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 93,558 shares of company stock worth $4,881,663 in the last ninety days. Company insiders own 5.20% of the company's stock.

About CRISPR Therapeutics

CRISPR Therapeutics AG NASDAQ: CRSP is a biotechnology company focused on developing transformative gene-based medicines using CRISPR/Cas9 gene-editing technology. The company's research programs are designed to address genetic diseases by precisely modifying DNA in cells, with applications across hematology, immunology, oncology, regenerative medicine and cardiovascular disease.

Its lead commercial product is CASGEVY, an autologous cell therapy developed in collaboration with Vertex Pharmaceuticals.

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