EDIT Stock: More Upside For Editas Medicine Inc (NASDAQ: EDIT)?

In the last trading session, 2.0 million Editas Medicine Inc (NASDAQ:EDIT) shares changed hands as the company’s beta touched 1.97. With the company’s per share price at $8.13 changed hands at $0.68 or 9.13% during last session, the market valuation stood at $663.98M. EDIT’s last price was a discount, traded about -46.49% off its 52-week high of $11.91. The share price had its 52-week low at $6.08, which suggests the last value was 25.22% up since then. When we look at Editas Medicine Inc’s average trading volume, we note the 10-day average is 1.46 million shares, with the 3-month average coming to 1.12.

Editas Medicine Inc (NASDAQ:EDIT) trade information

Instantly EDIT was in green as seen at the end of in last trading. With action 14.83%, the performance over the past five days has been green. The jump to weekly highs of 8.15 added 9.13% to the stock’s daily price. The company’s shares are showing year-to-date downside of -19.74%, with the 5-day performance at 14.83% in the green. However, in the 30-day time frame, Editas Medicine Inc (NASDAQ:EDIT) is -11.24% down. Looking at the short shares, we see there were 12.21 million shares sold at short interest cover period of 8.32 days.

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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 -6.34% over the past 6 months, a 30.53% in annual growth rate that is considerably higher than the industry average of 15.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Editas Medicine Inc will rise 36.40%, while the growth in revenue is estimated to hit 15.50% for the next quarter. Year-over-year growth is forecast to reach 39.80% up from the last financial year.

Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $7.33 million. 9 analysts are of the opinion that Editas Medicine Inc’s revenue for the quarter ending Mar 2024 will be $5.15 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 12.10%. The estimates for the next quarter sales put growth at -47.70%.

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 2024 estimates are for Editas Medicine Inc earnings to increase by 25.36%, 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.

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