On May 25, 2023, CRISPR Therapeutics (NASDAQ:CRSP) continued to impress investors with its latest earnings report. The company had previously issued its earnings results on Monday, May 8th, illustrating a significant increase in revenue and earnings per share (EPS). In fact, it beat analysts’ predictions by an impressive 97 cents.
During the first quarter of the year, CRISPR Therapeutics reported earning $100 million in revenue compared to the consensus estimate of $24.33 million. Additionally, it experienced a boost in quarterly revenue that was up a mind-blowing 10,538.3% on a year-over-year basis. It comes as no surprise that institutional investors have taken notice of this achievement.
Various hedge funds and institutional investors were among those who bought into or sold shares of the company. EverSource Wealth Advisors LLC is one such institutional investor which reportedly increased their shares by 2,440% during the third quarter alone. Hollencrest Capital Management followed suit during the fourth quarter by purchasing additional shares valued at $25,000.
Likewise, Whittier Trust Co., Pinnacle Holdings LLC and Kistler Tiffany Companies LLC all increased their holdings in CRISPR Therapeutics during respective periods. As of present time, approximately 71.51% of the stock is owned by institutional investors.
Despite fluctuations in trading over the years including a slight dip below its average moving average price earlier this year; Nasdaq index listed CRSP started trading today at a respectable $65.88 as its market capitalization rose to an all-time high signaling increasing optimism concerning future growth prospects.
As for future projections; analysts expect potential upsides for the biotech company due to emerging interest from various parties owing to groundbreaking development through gene editing and other revolutionary medical technologies set to be commercialized soonest possible .
All things considered CRISPR Therapeutics has managed to emerge as a leading force in the biotechnology industry. Its pioneering approach to gene editing is helping shape the future of medicine and providing investors with a significant return on investment. It’s safe to say that investors are eagerly watching this company where it’s headed next.
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Zacks Research Issues 2Q 2023 EPS Estimates for CRISPR Therapeutics AG Amidst Mixed Ratings and Insider Sales
CRISPR Therapeutics AG has recently been under intense scrutiny by analysts and investors alike. Zacks Research, a leading investment research firm, has issued their second quarter 2023 earnings per share (EPS) estimates for the company with a projection of ($2.39) per share. This announcement comes amidst a consensus estimate of CRISPR Therapeutics’ current full-year earnings being at ($6.66) per share.
Zacks Research also released various predictions for future quarters in 2023 and beyond. Their estimates include Q3 earnings at ($2.37) EPS, Q4 earnings at ($1.41) EPS, FY2023 earnings at ($6.85) EPS, Q1 2024 earnings at ($2.42) EPS, Q2 2024 earnings at ($2.22) EPS, Q3 2024 earnings at ($1.67) EPS, Q4 2024 earnings as ($1.57) EPS, FY2024 earnings as ($7.88) EPS, Q1 2025 revenue predicted to be (-$0.88), and FY2025 estimated revenue to be (-$2.35).
This news has not gone unnoticed by other research firms who have also weighed in on CRSP shares lately: Bryan Garnier & Co initiated coverage with a “buy” rating and $70 price objective while Robert W Baird initiated coverage with only a “neutral” rating and a $46 price target on the stock.
Despite these mixed opinions, it was recently revealed that CEO Samarth Kulkarni sold 25,000 shares of the firm’s stock back in March for an impressive $44.46 per share – totaling $1,111,500 altogether following this transaction alone.
Industry insiders have also disclosed that over the last three months there have been several insider sales totaling in about $3 million worth of aggregate value by those who works for the company directly. An incredible 4.10% of CRISPR Therapeutics’ stock is owned by the insiders.
This data has led to a range of perspectives on the future of this pioneering biotech firm, but one thing can be agreed upon: CRISPR Therapeutics is certainly an active player in the world of gene modification and its shares are worth keeping an eye on.
