CRISPR Therapeutics (NASDAQ:CRSP) Announces Quarterly Earnings Results

CRISPR Therapeutics (NASDAQ:CRSP) issued its quarterly earnings results on Monday. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06), Briefing.com reports. The firm had revenue of $0.52 million for the quarter, compared to the consensus estimate of $12.31 million. During the same period in the previous year, the business posted ($0.98) earnings per share. The company’s revenue for the quarter was down 99.3% compared to the same quarter last year.

CRISPR Therapeutics Stock Down 1.3 %

Shares of NASDAQ CRSP traded down $0.64 during mid-day trading on Wednesday, reaching $48.69. 500,100 shares of the company were exchanged, compared to its average volume of 1,595,276. CRISPR Therapeutics has a 52 week low of $37.55 and a 52 week high of $91.10. The company’s 50 day moving average price is $56.97 and its 200 day moving average price is $63.10. The stock has a market capitalization of $4.13 billion, a PE ratio of -17.99 and a beta of 1.70.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CRSP shares. Wells Fargo & Company reduced their price objective on CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Chardan Capital dropped their price objective on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank of Canada lowered their price objective on CRISPR Therapeutics from $66.00 to $60.00 and set a “sector perform” rating for the company in a research note on Tuesday. Rodman & Renshaw initiated coverage on CRISPR Therapeutics in a report on Friday, August 2nd. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of CRISPR Therapeutics in a report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CRISPR Therapeutics has an average rating of “Hold” and an average price target of $73.31.

Insider Transactions at CRISPR Therapeutics

In other news, COO Julianne Bruno sold 3,366 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the sale, the chief operating officer now owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.10% of the company’s stock.

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.