Smart Money Is Betting Big In CRSP Options
Portfolio Pulse from Benzinga Insights
Smart money investors have shown a bearish stance on CRISPR Therapeutics (NASDAQ:CRSP), with unusual options trading activity observed. Benzinga's options scanner revealed 26 significant trades, with a sentiment split of 38% bullish and 61% bearish. The trades suggest a price target range of $50.0 to $110.0 for CRSP over the next three months. The company, a leader in gene editing technology, is currently trading at $82.0, with a slight decrease of -0.5%. Its most advanced pipeline candidate, exa-cel, is in collaboration with Vertex Pharmaceuticals.
February 22, 2024 | 6:15 pm
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NEGATIVE IMPACT
Smart money investors are bearish on CRISPR Therapeutics, with significant options trading suggesting a price target range of $50 to $110 over the next three months. The company's focus on gene editing technology and its collaboration with Vertex Pharmaceuticals highlight its potential.
The bearish stance by significant investors, as indicated by the unusual options trading activity, suggests a potential downside for CRSP's stock price in the short term. The trading activity, combined with the current slight decrease in stock price and the anticipation of earnings release, could lead to increased volatility. However, the company's advanced pipeline candidate and its strategic collaboration with Vertex Pharmaceuticals could provide long-term value.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100