What's Going On With Crispr Therapeutics Stock Monday?

CRISPR Therapeutics AG CRSP shares are trading higher Monday on what appears to be continued momentum from the recent regulatory authorization of the company's CRISPR/Cas9 gene-edited therapy.

What Happened: Last week, the United Kingdom Medicines and Healthcare products Regulatory Agency (MHRA) granted conditional marketing authorization for CASGEVY, a CRISPR/Cas9 gene-edited therapy for the treatment of sickle cell disease.

The therapy was authorized for use in eligible patients 12 years of age and older. Crispr estimated that there are about 2,000 patients eligible for CASGEVY therapy in the U.K.

"I hope this represents the first of many applications of this Nobel Prize winning technology to benefit eligible patients with serious diseases," said Samarth Kulkarni, chairman and CEO of Crispr Therapeutics.

According to Benzinga data, 17 analysts have positive ratings on Crispr shares, five have neutral ratings and one has a negative rating. The average analyst price target is currently $84.45. 

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CRSP Price Action: Crispr shares are up approximately 42% over the last week and more than 85% over the last month. The stock was up 10.3% at $74.85 Monday morning, per Benzinga Pro.

Photo: Chokniti Khongchum from Pixabay.