CRISPR Therapeutics AG

CRISPR Therapeutics AG (NASDAQ: CRSP) is a Switzerland-based gene editing company focused on the development of CRISPR/Cas9-based therapeutics. CRISPR/Cas9 stands for Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)/CRISPR-associated protein 9 (Cas9) and is a technology for gene editing, the process of precisely altering specific sequences of genomic DNA.

Recent Financial and Business Updates:

• Regulatory submissions have been successfully completed for exagamglogene autotemcel (exa-cel), formerly known as CTX001™, in the United States for the treatment of transfusion-dependent beta thalassemia (TDT) and severe sickle cell disease (SCD).
• Submissions for exa-cel in the European Union (EU) and the United Kingdom (U.K.) have been validated by the European Medicines Agency (EMA) and the Medicines and Healthcare products Regulatory Agency (MHRA). Notably, exa-cel has received an Innovation Passport under the Innovative Licensing and Access Pathway (ILAP) from the MHRA, further recognizing its potential.
• Ongoing enrollment and dosing are taking place for CTX110®, which targets CD19+ B-cell malignancies, and CTX130™, which targets CD70 for the treatment of T-cell lymphomas. Furthermore, clinical trials have been initiated for the next generation CAR T candidates, CTX112™ targeting CD19+ B-cell malignancies, and CTX131™, targeting CD70+ solid tumors.
• In addition, enrollment and dosing are currently underway in a Phase 1/2 clinical trial of VCTX211™ for the treatment of Type 1 Diabetes (T1D). This demonstrates the company's commitment to exploring potential treatments for a wide range of diseases and conditions.
• CRISPR Therapeutics is also making progress with its lead in vivo program, CTX310™, which targets angiopoietin-related protein 3 (ANGPTL3), and anticipates initiating clinical trials for this program during the current year. This further solidifies the company's dedication to advancing innovative therapies.
• In March, CRISPR Therapeutics announced the appointment of Raju Prasad, Ph.D., as Chief Financial Officer. Dr. Prasad brings valuable expertise from his previous role as a Partner and Senior Equity Research Analyst at William Blair & Company, where he specialized in covering cell therapy, gene therapy, and gene editing companies.
• As of March 31, 2023, the company reported cash, cash equivalents, and marketable securities totaling USD 1,889.5 million, compared to USD 1,868.4 million as of December 31, 2022.
• Collaboration revenue for the quarter ended March 31, 2023, amounted to USD 100.0 million. Collaboration revenue for the corresponding period in 2022 was not significant. These financial figures reflect the company's financial strength and the successful collaborations it has established.

Technical Observation (on the daily chart)

The price of CRSP stock has shown a consistent upward trend since making its 52-week low on December 30, 2022, with a gain of approximately 50.10%. In the past one year, the stock has corrected by around 6.83%. Since the latest results announcement, the CRSP share price has provided a return of around 4.81%. Currently, the stock is currently near an important support zone of USD 50-USD 55, from where price has taken the upside breakout and is expected to take a support from here and continue the upward momentum. The RSI (14 period) momentum indicator is at a value of 43.37, with an expectation of some consolidation or the continuation of the upward trend. Moreover, the price is currently positioned between both the 21-day SMA and 50-day SMA trend-following indicators, which may act as dynamic short-term resistance and support levels, respectively.

As per the above-mentioned price action, momentum in the stock over the last month, and technical indicators analysis, a ‘Speculative Buy’ rating has been given CRISPR Therapeutics AG (NASDAQ: CRSP) at the current price of USD 58.45 as of June 15, 2023, at 07:5 am PDT.

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario. 

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing. 

Related Risk: This report may be looked at from a high-risk perspective and a recommendation is provided for a short duration. This report is solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc. 

How to Read the Charts?

The Green colour line reflects the 21-period simple moving average (SMA) while the red line indicates the 50- period simple moving average (SMA). SMA helps to identify existing price trends. If the prices are trading above the 21-period and 50-period moving average, then it shows prices are currently trading in a bullish trend.

The Black colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period) which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status while a reading of 30 or below suggests an oversold status.

The Blue colour bars in the chart’s lower segment show the volume of the stock. The volume is the number of shares that changed hands during a given day. Stocks with high volumes are more liquid than stocks with lesser volume as liquidity in stocks helps in easier and faster execution of the order.

The Orange colour lines are the trend lines drawn by connecting two or more price points and used for trend identification purposes. The trend line also acts as a line of support and resistance.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock. 

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock. 

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices. 

The reference date for all price data, currency, technical indicators, support, and resistance levels is June 15, 2023. The reference data in this report has been partly sourced from REFINITIV. 

Abbreviations

CMP: Current Market Price

SMA: Simple Moving Average

RSI: Relative Strength Index

USD: United States dollar 

Note: Trading decisions require a thorough analysis by individual. Technical reports in general chart out metrics that may be assessed by individuals before any stock evaluation. The above are illustrative analytical factors used for evaluating the stocks; other parameters can be looked at along with additional risks per se. Past performance is neither an indicator nor a guarantee of future performance.