CRISPR Therapeutics AG (CRSP) Hits A Home Run: Let’s Look Forward

The stock of CRISPR Therapeutics AG (NASDAQ:CRSP) has been Initiated to Buy by Jefferies in its latest research note that was published on August 01. CRSP was given a price target of $64, with other Wall Street analysts also giving their reports regarding the stock. Canaccord Genuity, analysts launched coverage of CRSP stock with a Buy rating, according to their flash note to investors on July 26

CRISPR’s stock is covered by 16 analysts, with 3 of them rating the stock as Buy. It has been deemed to have strong buy by 7 of the analysts, 4 of them have rated it as a Hold while 1 of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 2 analysts. 6 of them rated it as strong buy with 4 of them recommended investors to Hold on to the stock. Meanwhile, 1 analyst(s) rated it as a sell. The above data shows that CRSP has an average analyst rating of 2.38.

CRISPR Therapeutics AG, which has current market capitalization of above $3 Billion, published its last quarter earnings on June 30, 2019. The company was able to amass $0.33 million in revenue. This figure is $1.42 million more than what analysts had expected which was $1.75 million. During the first quarter of the year, CRISPR also recorded $-0.93 earnings per share (EPS) which is $0.05 above the $-0.88 estimated by Thomson Reuter’s analyst, leading to a surprise factor of -5.26%.

CRSP surged by $1.50 during the normal trading session on Tuesday and reaching a high of $50.44 during the day while it closed the day at $47.27. The CRISPR stock had a low trading volume of 0.45 million shares on that day, which is low compared to the average daily volume of 568.49M shares. CRSP has also lost 0.48% of its value over the past 7 days. However, the stock has surged by 25.65% in the 3 months of the year. Over the past six months meanwhile, it has gained 49.40% while it has added 65.45% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -12.3% from its 3 months high price. However, taking another look at CRSP will indicate that it is trading +34.86% away from its 90-day low. Looking at the bigger picture, the CRISPR Therapeutics AG stock has dropped by -19.88% from its 52-week high while it has surged by +112.74% from its 52-week low price.

On July 11, 2019 Klein Lawrence Otto, Chief Business Officer sold 20000 shares of the company. The average price for that transaction was $50.02 per share, which meant that Klein Lawrence Otto earned $1000400 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with President, Novak Rodger selling 50000 shares of this stock on July 10, 2019. The average selling price for the stock was $50 per share, with the sold stock accruing $2500000. Following this transaction, the President Novak Rodger now holds 31579 shares of the company, which is worth around $1545476.

CRISPR has around 428 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $31 Billion. The CRISPR stock is bringing in revenue of over 12 months, which is roughly 44 Billion. Despite all that, CRISPR Therapeutics AG is seeing things progressing very much as their y-o-y quarterly revenue surged by 0.84%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 62.65%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 29.09%. Over the past 20 days, CRISPR’s Stochastic %K stood at 44.78% while its Stochastic %D was revealed to be 47.89%.