Why CRISPR Therapeutics Stock Crushed the Market Today
Leading gene therapy company CRISPR Therapeutics (NASDAQ: CRSP) had quite the memorable day on the market Tuesday. Following the release of encouraging quarterly results, bulls ran rampant on the stock, and it closed almost 14% higher. Meanwhile, the bellwether S&P 500 index could only muster a 0.3% bump today.
CRISPR, which is a relatively early-stage company with sporadic revenue, did not record any take on the top line in its third quarter. On a year-over-year basis, it managed to trim operating expenses, which filtered down into a narrower net loss.
For the period, its shortfall was slightly more than $110 million ($1.41 per share), compared to a loss of over $176 million in the third quarter of 2022.
Source Fool.com
