An Overview Of Editas Medicine Inc (NASDAQ: EDIT)

In the latest trading session, 1.32 million Editas Medicine Inc (NASDAQ:EDIT) shares changed hands as the company’s beta touched 1.90. With the company’s most recent per share price at $11.07 changing hands around $1.29 or 13.19% at last look, the market valuation stands at $904.09M. EDIT’s current price is a discount, trading about -7.77% off its 52-week high of $11.93. The share price had its 52-week low at $6.08, which suggests the last value was 45.08% up since then. When we look at Editas Medicine Inc’s average trading volume, we note the 10-day average is 1.92 million shares, with the 3-month average coming to 1.56 million.

Analysts gave the Editas Medicine Inc (EDIT) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.29. If we narrow down to specifics, the data shows that 1 out of 17 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 8 recommended EDIT as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Editas Medicine Inc’s EPS for the current quarter is expected to be -$0.62.

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Editas Medicine Inc (NASDAQ:EDIT) trade information

Instantly EDIT is in green as seen in intraday trades today. With action 44.71%, the performance over the past five days has been green. The jump to weekly highs of 10.70 on Friday, 11/17/23 added 13.19% to the stock’s daily price. The company’s shares are showing year-to-date upside of 24.80%, with the 5-day performance at 44.71% in the green. However, in the 30-day time frame, Editas Medicine Inc (NASDAQ:EDIT) is 75.99% up. Looking at the short shares, we see there were 16.77 million shares sold at short interest cover period of 11.73 days.

The consensus price target for the stock as assigned by Wall Street analysts is $13.93, meaning bulls need an upside of 20.53% from its recent market value. According to analyst projections, EDIT’s forecast low is $7.00 with $27.00 as the target high. To hit the forecast high, the stock’s price needs a -143.9% plunge from its current level, while the stock would need to tank 36.77% for it to hit the projected low.

Editas Medicine Inc (EDIT) estimates and forecasts

Data shows that the Editas Medicine Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 14.83% over the past 6 months, a 23.36% in annual growth rate that is considerably higher than the industry average of 14.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Editas Medicine Inc will rise 29.50%, while the growth in revenue is estimated to hit 15.50% for the next quarter. Year-over-year growth is forecast to reach 12.20% up from the last financial year.

Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $3.78 million. 7 analysts are of the opinion that Editas Medicine Inc’s revenue for the quarter ending Mar 2024 will be $3.81 million. The company’s revenue for the corresponding quarters a year ago was $6.54 million and $9.85 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -42.20%. The estimates for the next quarter sales put growth at -61.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -1.50%. The 2023 estimates are for Editas Medicine Inc earnings to increase by 24.65%, but the outlook for the next 5-year period is at 1.70% per year.

EDIT Dividends

Editas Medicine Inc is expected to release its next quarterly earnings report between February 20 and February 26.

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

If we look at who the major shareholders are, we find that insiders hold 0.41% of Editas Medicine Inc shares while 67.45% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 67.73%. There are 67.45% institutions holding the Editas Medicine Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 10.00% of the shares, roughly 8.17 million EDIT shares worth $67.2 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 9.30% or 7.6 million shares worth $62.51 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. With 4.85 million shares estimated at $43.18 million under it, the former controlled 5.94% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.05% of the shares, roughly 2.49 million shares worth around $20.51 million.

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