In today’s recent session, 2,440,822 shares of the Editas Medicine, Inc.(NASDAQ:EDIT) have been traded, and its beta is 2.04. Most recently the company’s share price was $46.99, and it changed around -$5.43 or -0.1% from the last close, which brings the market valuation of the company to $2.94 Billion. EDIT at last check was trading at a discount to its 52-week high of $99.95, offering almost -112.71% off that amount. The share price’s 52-week low was $14.01, which indicates that the recent value has risen by an impressive 70.19% since then. We note from Editas Medicine, Inc.’s average daily trading volume that its 10-day average is 2.19 Million shares, with the 3-month average coming to 3.02 Million.
Editas Medicine, Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.6. If we narrow it down even further, the data shows that 1 out of 12 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 4 recommended EDIT as a Hold, whereas 6 deemed it a Buy, and 1 rated it as Underweight.
Editas Medicine, Inc. (NASDAQ:EDIT): Trading Information Today
Although EDIT has been showing red trend so far today with a performance of -10.36% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $58.27 on Friday, Feb 19 increased the stock’s daily price by 18.14%. The company’s shares are currently down -0.32% year-to-date, but still down -0.155 over the last five days. On the other hand, Editas Medicine, Inc. (NASDAQ:EDIT) is -0.27% down in the 30-day period. We can see from the shorts that 9.02 Million shares have been sold at a short interest cover period of 2.99 day(s).
The consensus price target as assigned by Wall Street analysts is $47.13, which translates to bears needing to increase their stock price by 0.3% from its current value. Analyst projections state that EDIT is forecast to be at a low of $14 and a high of $86. In order for the stock price to hit the forecast high, the stock would need to surge +83.02% from its current level, while the stock would need to crash -70.21% from its current level to reach the projected low.
Editas Medicine, Inc. (EDIT) projections and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -46.8%. Editas Medicine, Inc. earnings are expected to decrease by -14.6% in 2021, but the outlook is negative 0% per year for the next five years.
Editas Medicine, Inc. (NASDAQ:EDIT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 1.37% of Editas Medicine, Inc. shares, and 82.21% of them are in the hands of institutional investors. The stock currently has a share float of 83.35%. Editas Medicine, Inc. stock is held by 311 institutions, with ARK Investment Management, LLC being the largest institutional investor. By Dec 30, 2020, it held 16.15% of the shares, which is about 10.13 Million shares worth $709.9 Million.
Vanguard Group, Inc. (The), with 9.29% or 5.82 Million shares worth $408.38 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
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ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF were the top two Mutual Funds as of Dec 30, 2020. The former held 6772555 shares worth $474.82 Million, making up 10.8% of all outstanding shares. On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF held roughly 1.81 Million shares worth around $127.04 Million, which represents about 2.89% of the total shares outstanding.