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capex_spike on CRISPR Therapeutics AG (CRSP)
SIC 2836 — Biological Products, (No Diagnostic Substances) · CIK 1674416 · default direction: short
Definition
Fires on >50% YoY capex increase. Captures aggressive reinvestment phases — often precedes value destruction in mature industries.
Every time the signal fired on CRSP
| FY | Filing date | Event date | 1d | 5d | 20d | 60d | 252d |
|---|---|---|---|---|---|---|---|
| FY2025 | 2026-02-12 | 2026-02-12 | +8.46% | +9.26% | -0.37% | — | — |
| FY2024 | 2025-02-11 | 2025-02-11 | +9.29% | +33.82% | +9.77% | -8.78% | +23.50% |
| FY2022 | 2023-02-21 | 2023-02-21 | +8.04% | +5.77% | -3.37% | +38.13% | +84.84% |
| FY2020 | 2021-02-16 | 2021-02-16 | -3.41% | -12.89% | -15.93% | -35.08% | -62.27% |
| FY2018 | 2019-02-25 | 2019-02-25 | -8.70% | +0.68% | -13.77% | -0.55% | +25.83% |
Forward returns are stock returns from event date (next trading day after filing). Sign is raw stock direction; the trade direction is in the calibration table below.
Universe-wide calibration (this signal across all companies)
| Horizon | n events | Gross stock ret | Hit rate | Trade dir | Net PnL | Cost (bps) | r/σ net |
|---|---|---|---|---|---|---|---|
| 1d | 2,295 | +0.01% | +43.27% | short | -0.06% | 32 | -0.01 |
| 5d | 2,292 | -0.85% | +41.88% | short | +0.74% | 33 | +0.06 |
| 20d | 2,258 | -1.91% | +41.67% | short | +2.05% | 36 | +0.10 |
| 60d | 2,127 | +0.65% | +44.01% | short | -0.78% | 47 | -0.02 |
| 252d | 2,092 | +14.03% | +44.93% | short | -14.91% | 97 | -0.09 |
Net PnL is direction × stock return − round-trip execution cost (5 bps half-spread + ADV-tiered borrow). See capex_spike methodology for the full audit.