Why CRISPR Therapeutics AG Stock Edged Higher in October
After a turbulent September, genome-editing company CRISPR Therapeutics AG (NASDAQ: CRSP) saw its shares gain 8% last month, according to S&P Global Market Intelligence. Although the company did announce the promotion of President Samarth Kulkarni to CEO at the start of the month, as well as a new grant from the Friedreich's Ataxia Research Alliance toward the middle of October, this march northward doesn't appear to have an underlying material catalyst.
Image source: Getty Images.
As CRISPR is years away from bringing a major product to market, and the field of genome editing in general remains in its infancy, it's not entirely surprising that this small-cap biotech's shares tend to be rather volatile from month to month. In short, CRISPR's stock is largely reacting to the whims of day traders at the moment due to the lack of solid fundamental news.
Source: Fool.com
