CRISPR Therapeutics AG (CRSP): Why Is Stock So Good?

In the latest trading session, 3.22 million CRISPR Therapeutics AG (NASDAQ:CRSP) shares changed hands as the company’s beta touched 1.79. With the company’s most recent per share price at $75.86 changing hands around $7.97 or 11.75% at last look, the market valuation stands at $6.03B. CRSP’s last price was a premium, traded about 5.09% off its 52-week high of $72.00. The share price had its 52-week low at $37.55, which suggests the last value was 50.5% up since then. When we look at CRISPR Therapeutics AG’s average trading volume, we note the 10-day average is 3.1 million shares, with the 3-month average coming to 1.50 million.

Analysts gave the CRISPR Therapeutics AG (CRSP) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.07. If we narrow down to specifics, the data shows that 2 out of 28 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 11 recommended CRSP as a Hold, 15 felt it is a Buy and 0 rated the stock as Underweight. CRISPR Therapeutics AG’s EPS for the current quarter is expected to be -$0.35.

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CRISPR Therapeutics AG (NASDAQ:CRSP) trade information

Instantly CRSP is in green as seen in intraday trades today. With action 45.87%, the performance over the past five days has been green. The jump to weekly highs of 74.80 on Friday, 11/17/23 added 11.75% to the stock’s daily price. The company’s shares are showing year-to-date upside of 86.63%, with the 5-day performance at 45.87% in the green. However, in the 30-day time frame, CRISPR Therapeutics AG (NASDAQ:CRSP) is 90.71% up. Looking at the short shares, we see there were 13.89 million shares sold at short interest cover period of 10.23 days.

The consensus price target for the stock as assigned by Wall Street analysts is $87.78, meaning bulls need an upside of 13.58% from its recent market value. According to analyst projections, CRSP’s forecast low is $42.00 with $220.00 as the target high. To hit the forecast high, the stock’s price needs a -190.01% plunge from its current level, while the stock would need to tank 44.63% for it to hit the projected low.

CRISPR Therapeutics AG (CRSP) estimates and forecasts

Data shows that the CRISPR Therapeutics AG share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 22.11% over the past 6 months, a 58.85% in annual growth rate that is considerably higher than the industry average of 14.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for CRISPR Therapeutics AG will rise 75.20%, while the growth in revenue is estimated to hit -137.30% for the next quarter. Year-over-year growth is forecast to reach 23,632.90% up from the last financial year.

Consensus estimates given by 19 financial analysts project the company’s revenue in the current quarter to hit an average of $113.31 million. 14 analysts are of the opinion that CRISPR Therapeutics AG’s revenue for the quarter ending Mar 2024 will be $19.05 million. The company’s revenue for the corresponding quarters a year ago was $6k and $100 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1,888,400.00%. The estimates for the next quarter sales put growth at -81.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -37.42%. The 2023 estimates are for CRISPR Therapeutics AG earnings to increase by 58.42%.

CRSP Dividends

CRISPR Therapeutics AG is expected to release its next quarterly earnings report between February 19 and March 05.

CRISPR Therapeutics AG (NASDAQ:CRSP)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.38% of CRISPR Therapeutics AG shares while 67.47% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 68.42%. There are 67.47% institutions holding the CRISPR Therapeutics AG stock share, with ARK Investment Management, LLC the top institutional holder. As of Sep 29, 2023, the company held 9.02% of the shares, roughly 7.16 million CRSP shares worth $325.13 million.

Capital International Investors holds the second largest percentage of outstanding shares, with 7.64% or 6.07 million shares worth $340.75 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Innovation ETF and New Perspective Fund Inc. With 4.91 million shares estimated at $223.04 million under it, the former controlled 6.19% of total outstanding shares. On the other hand, New Perspective Fund Inc held about 4.47% of the shares, roughly 3.55 million shares worth around $199.33 million.

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