In the last trading session, 1.85 million Editas Medicine Inc (NASDAQ:EDIT) shares changed hands as the company’s beta touched 2.02. With the company’s per share price at $7.22 changed hands at -$0.14 or -1.90% during last session, the market valuation stood at $590.67M. EDIT’s last price was a discount, traded about -64.96% 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 15.79% up since then. When we look at Editas Medicine Inc’s average trading volume, we note the 10-day average is 2.27 million shares, with the 3-month average coming to 1.85 million.
Editas Medicine Inc (NASDAQ:EDIT) trade information
Instantly EDIT was in red as seen at the end of in last trading. With action -6.84%, the performance over the past five days has been red. The drop to weekly highs of 8.44 subtracted -1.90% to the stock’s daily price. The company’s shares are showing year-to-date downside of -28.73%, with the 5-day performance at -6.84% in the red. However, in the 30-day time frame, Editas Medicine Inc (NASDAQ:EDIT) is -10.42% down. Looking at the short shares, we see there were 13.52 million shares sold at short interest cover period of 6.88 days.
Editas Medicine Inc (EDIT) estimates and forecasts
Data shows that the Editas Medicine Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 1.62% over the past 6 months, a -29.21% in annual growth rate that is considerably lower than the industry average of 12.20%. 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 5.60%, while the growth in revenue is estimated to hit -19.60% for the next quarter. Year-over-year growth is forecast to reach -54.40% down 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 $7.9 million. 12 analysts are of the opinion that Editas Medicine Inc’s revenue for the quarter ending Jun 2024 will be $6 million. The company’s revenue for the corresponding quarters a year ago was $9.85 million and $4.17 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -19.80%. The estimates for the next quarter sales put growth at 43.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 2.88%. The 2024 estimates are for Editas Medicine Inc earnings to decrease by -27.84%, 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 May 03 and May 07.
Editas Medicine Inc (NASDAQ:EDIT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.91% of Editas Medicine Inc shares while 75.61% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 76.30%. There are 75.61% 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.
