Crispr Therapeutics AG ( (CRSP) ) has fallen by -8.60%. Read on to learn why.
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Crispr Therapeutics AG has experienced a notable decline in its stock price over the past week, dropping by 8.60%. This downturn comes despite several positive analyst ratings and price target increases from firms like H.C. Wainwright, Bank of America Securities, and Truist Financial, all of which have reiterated a Buy rating on the stock. Analysts have highlighted the company’s advancements in gene editing technology and promising pipeline developments as key factors for their optimistic outlook.
However, the company’s recent financial performance may have contributed to the stock’s decline. Crispr Therapeutics AG reported a quarterly revenue of $892 thousand and a significant GAAP net loss of $208.55 million for the quarter ending June 30. This financial strain, coupled with a market cap of $6.65 billion and a negative P/E ratio of -13.48, might have raised concerns among investors, leading to the recent dip in stock price.
Despite the current challenges, insider sentiment remains positive, with increased insider buying activity reported over the past quarter. Notably, Douglas A Treco, a Director at Crispr, purchased 20,000 shares, signaling confidence in the company’s long-term prospects. As Crispr Therapeutics AG continues to focus on its strategic market entry and innovative platforms, investors will be keenly watching for any developments that could reverse the recent downward trend.