Crispr Therapeutics AG (NASDAQ:CRSP) traded down 6.2% on Tuesday following a dissappointing earnings announcement. The company traded as low as $85.48 and last traded at $86.40, 1,018,895 shares were traded during trading. A decline of 3% from the average session volume of 1,052,515 shares. The stock had previously closed at $92.12.
The company reported ($1.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.35). The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $19.77 million. Crispr Therapeutics had a return on equity of 6.54% and a net margin of 15.73%. The company's revenue was down 86.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.01) EPS.
Several equities research analysts have recently issued reports on the stock. Canaccord Genuity raised their price objective on shares of Crispr Therapeutics from $80.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, June 15th. Needham & Company LLC lifted their price target on shares of Crispr Therapeutics from $84.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday. Oppenheimer started coverage on shares of Crispr Therapeutics in a research note on Monday. They set a "buy" rating and a $105.00 price target on the stock. Piper Sandler reiterated an "overweight" rating and set a $104.00 price target on shares of Crispr Therapeutics in a research note on Friday, June 19th. Finally, Roth Capital lifted their price target on shares of Crispr Therapeutics from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, June 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. The company presently has a consensus rating of "Buy" and a consensus target price of $87.25.
In other Crispr Therapeutics news, CEO Samarth Kulkarni sold 10,693 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $65.28, for a total value of $698,039.04. Following the completion of the sale, the chief executive officer now owns 175,833 shares in the company, valued at approximately $11,478,378.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Tony W. Ho sold 7,158 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $75.04, for a total transaction of $537,136.32. Following the completion of the transaction, the vice president now directly owns 40,676 shares of the company's stock, valued at $3,052,327.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,214 shares of company stock valued at $21,181,054. Company insiders own 17.10% of the company's stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. bought a new stake in shares of Crispr Therapeutics during the second quarter valued at approximately $313,000. Lenox Wealth Management Inc. grew its stake in shares of Crispr Therapeutics by 77.3% during the second quarter. Lenox Wealth Management Inc. now owns 3,898 shares of the company's stock valued at $286,000 after purchasing an additional 1,700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Crispr Therapeutics by 23.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,445 shares of the company's stock valued at $1,723,000 after purchasing an additional 4,406 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Crispr Therapeutics by 8.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,401 shares of the company's stock valued at $470,000 after purchasing an additional 498 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Crispr Therapeutics during the second quarter valued at approximately $655,000. 57.93% of the stock is currently owned by institutional investors and hedge funds.
The company's 50 day moving average price is $78.76 and its 200 day moving average price is $59.40. The firm has a market capitalization of $5.41 billion, a P/E ratio of 115.20 and a beta of 2.35.
About Crispr Therapeutics (NASDAQ:CRSP)
CRISPR Therapeutics AG, a gene editing company, focuses on developing transformative gene-based medicines for the treatment of serious human diseases using its regularly interspaced short palindromic repeats associated protein-9 (CRISPR/Cas9) gene-editing platform in Switzerland. Its lead product candidate is CTX001, an ex vivo CRISPR gene-edited therapy for treating patients suffering from dependent beta thalassemia or severe sickle cell disease in which a patient's hematopoietic stem cells are engineered to produce high levels of fetal hemoglobin in red blood cells.
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