In the last trading session, 1.52 million shares of the Editas Medicine Inc (NASDAQ:EDIT) were traded, and its beta was 2.01. Most recently the company’s share price was $7.42, and it changed around -$0.02 or -0.27% from the last close, which brings the market valuation of the company to $607.03M. EDIT currently trades at a discount to its 52-week high of $11.91, offering almost -60.51% off that amount. The share price’s 52-week low was $6.08, which indicates that the current value has risen by an impressive 18.06% since then. We note from Editas Medicine Inc’s average daily trading volume that its 10-day average is 2.28 million shares, with the 3-month average coming to 1.85 million.
Editas Medicine Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.41. If we narrow it down even further, the data shows that 1 out of 18 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 9 recommended EDIT as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Editas Medicine Inc is expected to report earnings per share of -$0.66 for the current quarter.
Editas Medicine Inc (NASDAQ:EDIT) trade information
Instantly EDIT has showed a red trend with a performance of -0.27% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -26.75% year-to-date, but still down -5.24% over the last five days. On the other hand, Editas Medicine Inc (NASDAQ:EDIT) is -32.97% down in the 30-day period. We can see from the shorts that 13.93 million shares have been sold at a short interest cover period of 5.91 day(s).
The consensus price target as assigned by Wall Street analysts is $21, which translates to bulls needing to increase their stock price by 64.67% from its current value. Analyst projections state that EDIT is forecast to be at a low of $8 and a high of $44.
Editas Medicine Inc (EDIT) estimates and forecasts
Editas Medicine Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 4.36 percent over the past six months and at a -29.21% annual growth rate that is well below the industry average of 13.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 7.00% in revenue this quarter, and will report a decrease of -19.60% in the next quarter. The year-over-year growth rate is expected to be -53.40%, down from the previous year.
Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $8.2 million in revenue for the current quarter. 13 analysts expect Editas Medicine Inc to make $6.44 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $9.85 million and $4.17 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -16.80%. Forecasts for the next quarter put sales growth at 54.40%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 2.88%. Editas Medicine Inc earnings are expected to increase by -27.84% in 2024, but the outlook is positive 1.70% per year for the next five years.
EDIT Dividends
Editas Medicine Inc’s next quarterly earnings report is expected to be released around May 03 and May 07.
Editas Medicine Inc (NASDAQ:EDIT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.91% of Editas Medicine Inc shares, and 75.61% of them are in the hands of institutional investors. The stock currently has a share float of 76.30%. Editas Medicine Inc stock is held by 310 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 10.34% of the shares, which is about 8.46 million shares worth $62.79 million.
Blackrock Inc., with 9.58% or 7.84 million shares worth $58.17 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2024. The former held 3.11 million shares worth $23.09 million, making up 3.80% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.6 million shares worth around $19.28 million, which represents about 3.18% of the total shares outstanding.
