Zacks Research Weighs in on CRISPR Therapeutics AG’s Q2 2024 Earnings (NASDAQ:CRSP)

CRISPR Therapeutics AG (NASDAQ:CRSP) – Analysts at Zacks Research increased their Q2 2024 EPS estimates for CRISPR Therapeutics in a research report issued to clients and investors on Wednesday, May 29th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of ($1.98) for the quarter, up from their prior estimate of ($2.24). The consensus estimate for CRISPR Therapeutics’ current full-year earnings is ($5.51) per share. Zacks Research also issued estimates for CRISPR Therapeutics’ Q3 2024 earnings at ($1.64) EPS, Q4 2024 earnings at ($1.60) EPS, FY2024 earnings at ($6.65) EPS, Q1 2025 earnings at ($1.64) EPS, Q2 2025 earnings at ($1.60) EPS, Q3 2025 earnings at ($1.43) EPS, Q4 2025 earnings at ($1.48) EPS, FY2025 earnings at ($6.14) EPS, Q1 2026 earnings at ($1.47) EPS and FY2026 earnings at ($5.30) EPS.

Other research analysts have also issued reports about the company. Wells Fargo & Company reduced their target price on CRISPR Therapeutics from $70.00 to $65.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Chardan Capital boosted their price objective on CRISPR Therapeutics from $110.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Wolfe Research began coverage on shares of CRISPR Therapeutics in a report on Thursday, February 15th. They set a “peer perform” rating on the stock. Morgan Stanley lifted their price target on shares of CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a research note on Monday, February 26th. Finally, Robert W. Baird increased their price objective on shares of CRISPR Therapeutics from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.46.

CRISPR Therapeutics Stock Down 0.6 %

Shares of CRSP stock opened at $53.74 on Friday. CRISPR Therapeutics has a 12-month low of $37.55 and a 12-month high of $91.10. The firm has a fifty day moving average of $58.42 and a 200-day moving average of $65.55. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of -19.76 and a beta of 1.80.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The firm had revenue of $0.50 million during the quarter, compared to analyst estimates of $25.53 million. The firm’s revenue was down 99.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.67) EPS.

Institutional Trading of CRISPR Therapeutics

Several institutional investors have recently added to or reduced their stakes in CRSP. Capital International Investors increased its position in CRISPR Therapeutics by 27.8% during the 1st quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock worth $534,175,000 after buying an additional 1,702,624 shares during the period. ARK Investment Management LLC increased its position in CRISPR Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after acquiring an additional 1,372,986 shares during the period. SR One Capital Management LP acquired a new stake in CRISPR Therapeutics in the 1st quarter worth about $71,496,000. Norges Bank acquired a new stake in CRISPR Therapeutics in the 4th quarter worth about $38,661,000. Finally, Avoro Capital Advisors LLC bought a new stake in CRISPR Therapeutics in the 1st quarter valued at about $28,599,000. 69.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Samarth Kulkarni sold 9,802 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $78.26, for a total value of $767,104.52. Following the sale, the chief executive officer now directly owns 203,705 shares of the company’s stock, valued at approximately $15,941,953.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 9,802 shares of CRISPR Therapeutics stock in a transaction on Monday, March 11th. The shares were sold at an average price of $78.26, for a total transaction of $767,104.52. Following the completion of the transaction, the chief executive officer now directly owns 203,705 shares of the company’s stock, valued at $15,941,953.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Raju Prasad sold 3,524 shares of CRISPR Therapeutics stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $72.69, for a total transaction of $256,159.56. Following the sale, the chief financial officer now directly owns 6,476 shares of the company’s stock, valued at approximately $470,740.44. The disclosure for this sale can be found here. Insiders sold a total of 55,709 shares of company stock valued at $3,865,228 in the last quarter. Company insiders own 4.10% of the company’s stock.

About CRISPR Therapeutics

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.