- CRISPR stock has been reporting very inconsistent revenue.
- CRISPR is investing heavily in R&D, and it remains to be seen whether this will pay off in terms of finances.
- The current trend is negative with the indicators pointing to a short-term fall in the future
CRISPR Therapeutics AG is a biotech company which is based in Zug, Switzerland is listed on NASDAQ. Founded in 2013, It is a gene editing company which focuses on creating gene-based medicines for fatal diseases. The company uses its main CRISPR/CAS9 technology for enabling its operations. The CEO of CRISPR Therapeutics AG is Samarth Kulkarni.
Some financial highlights of the stock
The company has made some investments in the R&D sector, leading to expanding losses. The reason for this is the unstable revenue of the company.
- The revenue of the last quarter was $1M
- The operating margin of the company is -560.23%
- The net profit of the last financial year end was $-650M
- The earnings per share of the stock is $-6.71
The Metrics have been calculated as per financial statements provided by macrotrends.net
CRSP Stock Price Action and Forecasting
CRSP stock price started coming down after August 2022, Where it marked a high of $83.79 and since then, it fell in a gradual and constant downtrend. However, the price of CRSP has been very stable from December with low volatility. The price saw some trend reversal by May 2023.
Supports and resistances: one immediate support is seen at the level of $47.87, which is confirmed by a good amount of volume. The second support is available at $42.7, which is again supported by volumes that may be able to sustain the downfall.
The immediate resistance is standing at $67 with very low volumes and the second resistance is at the level of $84.13.
Indicators
MACD
The signal line has just been overtaken by the MACD line which indicates that a short-term fall can be expected. although it cannot be confirmed as the difference between the two lines is minimal.
RSI
The RSI has been falling and currently stands at a level of 37.78. Looking at the previous pattern, a price reversal could be seen if it touches the level of 35.
EMAs
Both the EMAs are very close to each other with just a $1 difference, The 50 and 200 EMAs are standing at $56.04 and $57.74, respectively. Here, a price reversal can be seen toward the downtrend.
Both the EMAs and RSI are indicating a short-term downfall. RSI’s historicals are also in favor of the bears.
If the price bounces from support 1, then some buying would be possible. If a trend reversal occurs, then safe buying will be at the level of $67.79.
Conclusion
CRISPR Therapeutics AG was founded in 2013. The company is based in Switzerland and is listed on NASDAQ. It is a gene editing company which focuses on creating gene-based medicines for fatal diseases.
The company has been investing heavily in R&D and has been posting inconsistent revenue numbers with net losses. The price looks to be in the downtrend with some supports and resistances in sight.
Technicals
support: $47.87, $42.73
Resistance: $67.79, $84.13
RSI: 37
50 EMA: $57.04
200 EMA: $56.74
