Crispr Therapeutics Stock Sinks Despite FDA Approval

TD Cowen downgraded shares to "underperform"

Digital Content Manager
Dec 11, 2023 at 3:31 PM
facebook X logo linkedin


Crispr Therapeutics AG (NASDAQ:CRSP) stock is down 7.2% to trade at $59.89 at last check, despite its gene therapy treatment for sickle cell disease in partnership with Vertex (VRTX) last week receiving approval from the U.S. Food and Drug Administration (FDA).

The security drew three price-target hikes since the news broke, including one from Needham to $88 from $85. Meanwhile, Truist Securities slashed its price objective to $160 from $220, and TD Cowen downgraded shares to "underperform" from "market perform."

Coming into today, 15 of 25 firms in coverage rated CRSP a "buy" or better, and the 12-month consensus target price of $83.88 now stands a 40.1% premium to current levels.

Options traders are chiming in as well. So far today, 31,000 calls and 13,000 puts have crossed the tape, or double the intraday average volume. Most popular is the December 70 call, where positions are currently being opened, followed by the January 19, 2024 65-strike call.

Crispr Therapeutics stock closed well of its 52-week high of $76.97 on Friday, marking its biggest single-day percentage drop since February. The shares are testing support at their 40-day moving average today, and still boast an impressive 47.3% lead for 2023.

CRSP 40 Day

 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI