400tmax/iStock through Getty Pictures
CRISPR Therapeutics (NASDAQ:CRSP) inventory noticed its worth goal minimize by 4 corporations on Could 10 following the corporate’s Q1 results, which missed analysts estimates a day in the past.
Stifel minimize its worth goal on CRISPR shares to $52 from $64 however maintained a Maintain ranking. RBC Capital lowered its worth goal on CRISPR inventory to $85 from $95.
In the meantime, Barclays decreased its worth goal on the shares to $99 from $107; and Chardan Capital lowered its worth goal on CRISPR to $168 from $171.
The corporate’s Q1 total revenue grew ~74% Y/Y to $940K.
Collaboration income declined to $178K, in comparison with $202K in Q1 2021. However Grant income rose +126% Y/Y to $762K.
Internet loss widened to -$179.22M, in comparison with -$113.16M in Q1 2021.
“Alongside our associate Vertex, we stay on monitor to submit world regulatory filings for CTX001 in late 2022 and have dosed greater than 75 sufferers throughout each trials so far,” stated CRISPR CEO Samarth Kulkarni.
The corporate is evaluating gene-edited remedy CTX001 to deal with transfusion-dependent beta thalassemia and sickle cell illness.
R&D bills elevated to $118.25M, in comparison with $70.62M in Q1 2021.
As of March 31, 2022, Money and marketable securities had been ~$2.22B, in comparison with ~$2.38B. as of Dec. 31, 2021. The corporate stated the lower was primarily pushed by money utilized in working actions for ongoing analysis and growth.
