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Strength Seen in CRISPR Therapeutics AG (CRSP): Can Its 7.2% Jump Turn into More Strength?

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CRISPR Therapeutics AG (CRSP - Free Report) shares ended the last trading session 7.2% higher at $56.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.3% gain over the past four weeks.

The positive momentum built is in anticipation of CRISPR's lead product candidate Exa-cel, which is being developed in collaboration with Vertex Pharmaceuticals. The companies have begun the rolling Biologics License Application (BLA) submission to the FDA for exa-cel in transfusion-dependent beta thalassemia (TDT) and sickle cell disease (SCD) indications. This submission is intended to be completed by first-quarter 2023.

This company is expected to post quarterly loss of $2.32 per share in its upcoming report, which represents a year-over-year change of -26.1%. Revenues are expected to be $12.18 million, down 5.6% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For CRISPR Therapeutics AG, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CRSP going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

CRISPR Therapeutics AG belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Zymeworks Inc. (ZYME - Free Report) , closed the last trading session 0.2% lower at $9.25. Over the past month, ZYME has returned 20.9%.

For Zymeworks Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $4.62. This represents a change of +586.3% from what the company reported a year ago. Zymeworks Inc. currently has a Zacks Rank of #3 (Hold).

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