CRISPR Therapeutics AG (NASDAQ: CRSP) stock fell -0.78% on Wednesday to $55.03 against a previous-day closing price of $55.46. With 0.63 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.09 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $56.80 whereas the lowest price it dropped to was $54.90. The 52-week range on CRSP shows that it touched its highest point at $86.95 and its lowest point at $42.51 during that stretch. It currently has a 1-year price target of $102.35. Beta for the stock currently stands at 1.72.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CRSP was down-trending over the past week, with a drop of -6.35%, but this was up by 4.92% over a month. Three-month performance dropped to -24.03% while six-month performance rose 0.88%. The stock lost -31.28% in the past year, while it has lost -27.38% so far this year. A look at the trailing 12-month EPS for CRSP yields -8.80 with Next year EPS estimates of -8.08. For the next quarter, that number is -2.29. This implies an EPS growth rate of 188.80% for this year and 11.20% for next year.
Float and Shares Shorts:
At present, 78.02 million CRSP shares are outstanding with a float of 77.23 million shares on hand for trading. On Oct 13, 2022, short shares totaled 11.76 million, which was 15.08% higher than short shares on Sep 14, 2022. In addition to Dr. Samarth Kulkarni Ph.D. as the firm’s CEO & Director, Mr. Brendan Smith M.B.A. serves as its Sr. VP, CFO & Principal Accounting Officer.
Through their ownership of 72.89% of CRSP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.45% of CRSP, in contrast to 22.99% held by mutual funds. Shares owned by individuals account for 21.04%. As the largest shareholder in CRSP with 10.56% of the stake, ARK Investment Management LLC holds 8,237,122 shares worth 8,237,122. A second-largest stockholder of CRSP, Capital Research & Management Co, holds 5,342,418 shares, controlling over 6.85% of the firm’s shares. Nikko Asset Management Americas, is the third largest shareholder in CRSP, holding 4,262,736 shares or 5.46% stake. With a 7.10% stake in CRSP, the ARK Innovation ETF is the largest stakeholder. A total of 5,539,366 shares are owned by the mutual fund manager. The American Funds New Perspective Fu, which owns about 3.98% of CRSP stock, is the second-largest Mutual Fund holder. It holds 3,101,795 shares valued at 162.35 million. Nikko AM Global Umbrella Fund – A holds 3.29% of the stake in CRSP, owning 2,564,265 shares worth 134.21 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CRSP since 28 analysts follow the stock currently. There are 16 analysts who recommend BUY ratings, while 2 suggest SELL ratings. Of the remaining analysts, 10 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CRSP analysts setting a high price target of $220.00 and a low target of $37.00, the average target price over the next 12 months is $101.48. Based on these targets, CRSP could surge 299.78% to reach the target high and fall by -32.76% to reach the target low. Reaching the average price target will result in a growth of 84.41% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CRSP will report FY 2022 earnings on 02/14/2023. Analysts have provided yearly estimates in a range of -$7.76 being high and -$9.85 being low. For CRSP, this leads to a yearly average estimate of -$9.12. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CRISPR Therapeutics AG surprised analysts by $0.04 when it reported -$2.24 EPS against a consensus estimate of -$2.28. The surprise factor in the prior quarter was -$0.18. Based on analyst estimates, the high estimate for the next quarter is -$1.33 and the low estimate is -$2.66. The average estimate for the next quarter is thus -$2.29.
Summary of Insider Activity:
Insiders traded CRSP stock several times over the past three months with 5 Buys and 10 Sells. In these transactions, 78,750 shares were bought while 76,111 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 334,011 while 209,915 shares were sold.