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Is Editas Medicine Inc. (NASDAQ: EDIT) Worth It? How Should Investors Deal With It?

During the last session, Editas Medicine Inc. (NASDAQ:EDIT)’s traded shares were 1.52 million, with the beta value of the company hitting 1.81. At the end of the trading day, the stock’s price was $9.08, reflecting an intraday loss of -3.92% or -$0.37. The 52-week high for the EDIT share is $19.97, that puts it down -119.93 from that peak though still a striking 30.29% gain since the share price plummeted to a 52-week low of $6.33. The company’s market capitalization is $633.15M, and the average intraday trading volume over the past 10 days was 1.71 million shares, and the average trade volume was 1.83 million shares over the past three months.

Editas Medicine Inc. (EDIT) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.80. EDIT has a Sell rating from 3 analyst(s) out of 20 analysts who have looked at this stock. 11 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.76.

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Editas Medicine Inc. (NASDAQ:EDIT) trade information

Editas Medicine Inc. (EDIT) registered a -3.92% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.92% in intraday trading to $9.08 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -3.61%, and it has moved by 14.94% in 30 days. Based on these gigs, the overall price performance for the year is -9.11%. The short interest in Editas Medicine Inc. (NASDAQ:EDIT) is 18.86 million shares and it means that shorts have 9.48 day(s) to cover.

The consensus price target of analysts on Wall Street is $12.71, which implies an increase of 28.56% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.00 and $30.00 respectively. As a result, EDIT is trading at a discount of -230.4% off the target high and 22.91% off the low.

Editas Medicine Inc. (EDIT) estimates and forecasts

Statistics show that Editas Medicine Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Editas Medicine Inc. (EDIT) shares have gone down -13.19% during the last six months, with a year-to-date growth rate less than the industry average at 5.30% against 11.40. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 2.60% this quarter and then jump 6.20% in the quarter after that. In the rating firms’ projections, revenue will increase 7.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $3.85 million as predicted by 13 analyst(s). Meanwhile, a consensus of 13 analyst(s) estimates revenue growth to $3.85 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $6.36 million and $42k respectively. In this case, analysts expect current quarter sales to shrink by -39.50% and then jump by 9,066.70% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -1.50%. While earnings are projected to return -12.80% in 2023, the next five years will return 1.70% per annum.

EDIT Dividends

Editas Medicine Inc. is due to release its next quarterly earnings between August 01 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Editas Medicine Inc. insiders own 0.37% of total outstanding shares while institutional holders control 81.44%, with the float percentage being 81.74%. State Street Corporation is the largest shareholder of the company, while 351 institutions own stock in it. As of Mar 30, 2023, the company held over 8.16 million shares (or 11.83% of all shares), a total value of $59.19 million in shares.

The next largest institutional holding, with 7.42 million shares, is of Blackrock Inc.’s that is approximately 10.75% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $53.78 million.

Also, the Mutual Funds coming in first place with the largest holdings of Editas Medicine Inc. (EDIT) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. Data provided on Feb 27, 2023 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 6.54 million shares. This amounts to just over 9.48 percent of the company’s overall shares, with a $59.16 million market value. The same data shows that the other fund manager holds slightly less at 2.16 million, or about 3.13% of the stock, which is worth about $19.17 million.

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