Why did CRISPR Therapeutics stock rise today? Speculation as acquisition target
vchal/iStock via Getty Images


Despite a slew of investment houses cutting price targets for CRISPR Therapeutics (NASDAQ:CRSP) Tuesday in the wake of its Q1 2022 results, shares closed up 9%.
One reason for the rise is social media speculation that following Pfizer's (PFE) announcement Tuesday it would acquire Biohaven (BHVN) for around ~$11.6B, CRISPR (CRSP) could also be in M&A crosshairs.

A potential acquirer is Vertex Pharmaceuticals (NASDAQ:VRTX) as the company is partnered with CRISPR (CRSP) on CTX001, a stem cell therapy for hemoglobinopathies including Î²-thalassemia and sickle cell disease.
A regulatory filing for CTX001 is slated for late this year.
Read why Seeking Alpha contributor SL Investments considers CRISPR (CRSP) a buy.