Editas Medicine Inc. (NASDAQ: EDIT) Stock: Will It Keep Climbing Higher? – Marketing Sentinel
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Editas Medicine Inc. (NASDAQ: EDIT) Stock: Will It Keep Climbing Higher?

In the last trading session, 3.12 million shares of the Editas Medicine Inc. (NASDAQ:EDIT) were traded, and its beta was 1.97. Most recently the company’s share price was $11.87, and it changed around $0.58 or 5.14% from the last close, which brings the market valuation of the company to $733.92M. EDIT currently trades at a discount to its 52-week high of $73.03, offering almost -515.25% off that amount. The share price’s 52-week low was $9.59, which indicates that the current value has risen by an impressive 19.21% since then. We note from Editas Medicine Inc.’s average daily trading volume that its 3-month average coming to 1.65 million.

Editas Medicine Inc. stock received a consensus recommendation rating of a Hold, based on a mean score of 2.60. If we narrow it down even further, the data shows that 3 out of 17 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 7 recommended EDIT as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Editas Medicine Inc. is expected to report earnings per share of -$0.82 for the current quarter.

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Editas Medicine Inc. (NASDAQ:EDIT) trade information

Instantly EDIT has showed a green trend with a performance of 5.14% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 12.50 on Tuesday, 06/21/22 increased the stock’s daily price by 5.04%. The company’s shares are currently down -55.29% year-to-date, but still up 18.70% over the last five days. On the other hand, Editas Medicine Inc. (NASDAQ:EDIT) is 8.50% up in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $31.07, which translates to bulls needing to increase their stock price by 61.8% from its current value. Analyst projections state that EDIT is forecast to be at a low of $8.00 and a high of $80.00. In order for the stock price to hit the forecast high, the stock would need to plunge -573.97% from its current level, while the stock would need to crash 32.6% from its current level to reach the projected low.

Editas Medicine Inc. (EDIT) estimates and forecasts

Editas Medicine Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -60.27 percent over the past six months and at a -19.65% annual growth rate that is well below the industry average of 0.60%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -1.20% in revenue this quarter, and will report a decrease of -50.90% in the next quarter. The year-over-year growth rate is expected to be -16.30%, down from the previous year.

Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $4.29 million in revenue for the current quarter. 13 analysts expect Editas Medicine Inc. to make $4.69 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $379k and $6.2 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 1,031.90%. Forecasts for the next quarter put sales growth at -24.30%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 1.20%.

EDIT Dividends

Editas Medicine Inc.’s next quarterly earnings report is expected to be released around February 23 and February 28.

Editas Medicine Inc. (NASDAQ:EDIT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.28% of Editas Medicine Inc. shares, and 66.86% of them are in the hands of institutional investors. The stock currently has a share float of 67.04%. Editas Medicine Inc. stock is held by 378 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Dec 30, 2021, it held 9.72% of the shares, which is about 6.67 million shares worth $177.19 million.

Blackrock Inc., with 9.14% or 6.28 million shares worth $119.36 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2022. The former held 2.13 million shares worth $40.49 million, making up 3.10% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.95 million shares worth around $51.68 million, which represents about 2.84% of the total shares outstanding.

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