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Editas Medicine Inc (NASDAQ:EDIT) At $7.17: What To Do?

In last trading session, Editas Medicine Inc (NASDAQ:EDIT) saw 1.47 million shares changing hands with its beta currently measuring 1.96. Company’s recent per share price level of $7.17 trading at $0.06 or 0.84% at ring of the bell on the day assigns it a market valuation of $585.57M. That closing price of EDIT’s stock is at a discount of -66.11% from its 52-week high price of $11.91 and is indicating a premium of 15.2% from its 52-week low price of $6.08. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.53 million shares which gives us an average trading volume of 1.80 million if we extend that period to 3-months.

Editas Medicine Inc (NASDAQ:EDIT) trade information

Upright in the green during last session for gaining 0.84%, in the last five days EDIT remained trading in the red while hitting it’s week-highest on Thursday, 02/08/24 when the stock touched $7.17 price level, adding 1.51% to its value on the day. Editas Medicine Inc’s shares saw a change of -29.22% in year-to-date performance and have moved -0.69% in past 5-day. Editas Medicine Inc (NASDAQ:EDIT) showed a performance of -22.23% in past 30-days. Number of shares sold short was 12.48 million shares which calculate 6.18 days to cover the short interests.

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Editas Medicine Inc (EDIT) estimates and forecasts

Statistics highlight that Editas Medicine Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -18.89% of value to its shares in past 6 months, showing an annual growth rate of 30.53% while that of industry is 15.30. Apart from that, the company came raising its revenue forecast for fiscal year 2024.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -1.50% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 25.36% while estimates for its earnings growth in next 5 years are of 1.70%.

EDIT Dividends

Editas Medicine Inc is more likely to be releasing its next quarterly report between February 20 and February 26 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 0.46% of company’s total shares while institution are holding 78.55 percent of that, with stock having share float percentage of 78.91%. Investors also watch the number of corporate investors in a company very closely, which is 78.55% institutions for Editas Medicine Inc that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at EDIT for having 8.17 million shares of worth $67.2 million. And as of Jun 29, 2023, it was holding 10.00% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 7.6 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 9.30% of outstanding shares, having a total worth of $62.51 million.

On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 4.85 million shares of worth $43.18 million or 5.94% of the total outstanding shares. The later fund manager was in possession of 2.49 million shares on Jun 29, 2023, making its stake of worth around $20.51 million in the company or a holder of 3.05% of company’s stock.

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