During the last session, Editas Medicine, Inc. (NASDAQ:EDIT)’s traded shares were 1,032,087, with the beta value of the company hitting 2.01. At the end of the trading day, the stock’s price was $40.4, reflecting an intraday loss of -5.25% or -$2.24. The 52-week high for the EDIT share is $99.95, that puts it down -147.4% from that peak though still a striking +50.12% gain since the share price plummeted to a 52-week low of $20.15. The company’s market capitalization is $2.72 Billion, and the average intraday trading volume over the past 10 days was 1.64 Million shares, and the average trade volume was 2.66 Million shares over the past three months.
Editas Medicine, Inc. (EDIT) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 2.8. EDIT has a Sell rating from 2 analyst(s) out of 13 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 5 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.75.
Editas Medicine, Inc. (NASDAQ:EDIT): Trading Information
Editas Medicine, Inc. (EDIT) registered a -5.25% downside in the last session and has traded in the red over the past 5 sessions. The stock spiked 11.38% in intraday trading to $45.59 this Thursday, Apr 01, hitting a weekly high. The stock’s 5-day price performance is -0.25%, and it has moved by -2.95% in 30 days. Despite these dips, the overall price performance for the year is -42.38%. The short interest in Editas Medicine, Inc. (NASDAQ:EDIT) is 10.61 Million shares and it means that shorts have 3.99 day(s) to cover.
The consensus price target of analysts on Wall Street is $47, which implies an increase of 16.34% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $14 and $81 respectively. As a result, EDIT is trading at a discount of 100.5% off the target high and -65.35% off the low.
Editas Medicine, Inc. (EDIT) projections and forecasts
Statistics show that Editas Medicine, Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Editas Medicine, Inc. (EDIT) shares have gone up +38.64% during the last six months, with a year-to-date growth rate more than the industry average at 76.26% against 8.4%. Yet analysts are winding down their growth forecast for the fiscal year 2021. Revenue is predicted to decline -8.7% this quarter and then fall -81.4% in the quarter after that. In the rating firms’ projections, revenue will decline -74% compared to the previous financial year.
Revenue for the current quarter is expected to be $5.78 Million as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $5.66 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $5.72 Million and $10.75 Million respectively. In this case, analysts expect current quarter sales to grow by 1% and then fell by -47.3% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 0.7%. While earnings are projected to return 26% in 2021, the next five years will return 0% per annum.
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Editas Medicine, Inc. (NASDAQ:EDIT)’s Biggest Investors
Editas Medicine, Inc. insiders own 1.33% of total outstanding shares while institutional holders control 73.95%, with the float percentage being 74.95%. ARK Investment Management, LLC is the largest shareholder of the company, while 400 institutions own stock in it. As of Dec 30, 2020, the company held over 10.13 Million shares (or 15.03% of all shares), a total value of $709.9 Million in shares.
The next largest institutional holding, with 5.82 Million shares, is of Vanguard Group, Inc. (The)’s that is approximately 8.65% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $408.38 Million.
Also, the Mutual Funds coming in first place with the largest holdings of Editas Medicine, Inc. (EDIT) shares are ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund. Data provided on Feb 27, 2021 indicates that ARK ETF Tr-ARK Innovation ETF owns about 6,357,704 shares. This amounts to just over 9.44 percent of the company’s overall shares, with a $278.85 Million market value. The same data shows that the other fund manager holds slightly less at 1.76 Million, or about 2.61% of the stock, which is worth about $123.16 Million.