In the latest trading session, 0.51 million Editas Medicine Inc (NASDAQ:EDIT) shares changed hands as the company’s beta touched 1.93. With the company’s most recent per share price at $1.28 changed hands at -$0.03 or -2.22% at last look, the market valuation stands at $103.37M. EDIT’s current price is a discount, trading about -804.69% off its 52-week high of $11.58. When we look at Editas Medicine Inc’s average trading volume, we note the 10-day average is 3.87 million shares, with the 3-month average coming to 2.46 million.
Analysts gave the Editas Medicine Inc (EDIT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.68. If we narrow down to specifics, the data shows that 0 out of 9 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 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 -0.36.
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Editas Medicine Inc (NASDAQ:EDIT) trade information
Instantly EDIT was in red as seen in intraday trades today. With action -13.45%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -87.36%, with the 5-day performance at -13.45% in the red. However, in the 30-day time frame, Editas Medicine Inc (NASDAQ:EDIT) is -45.95% down. Looking at the short shares, we see there were 16.06 million shares sold at short interest cover period of 6.7 days.
The consensus price target for the stock as assigned by Wall Street analysts is 10, meaning bulls need an upside of 87.2% from its recent market value. According to analyst projections, EDIT’s forecast low is 5 with 15 as the target high. To hit the forecast high, the stock’s price needs a -1071.88% plunge from its current level, while the stock would need to soar -290.62% 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 not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -74.23% over the past 6 months, a -30.69% in annual growth rate that is considerably lower than the industry average of 17.20%. Year-over-year growth is forecast to reach -44.50% down from the last financial year.
Consensus estimates given by 15 financial analysts project the company’s revenue in the current quarter to hit an average of 36.02M. 7 analysts are of the opinion that Editas Medicine Inc’s revenue for the current quarter will be 808.71k. The company’s revenue for the corresponding quarters a year ago was 60.05M and 1.14M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -40.01%. The estimates for the next quarter sales put growth at -28.75%.
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 -31.45%, 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 in January.
Editas Medicine Inc (NASDAQ:EDIT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.32% of Editas Medicine Inc shares while 70.94% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 71.16%. There are 70.94% institutions holding the Editas Medicine Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 9.8032% of the shares, roughly 8.03 million EDIT shares worth $37.51 million.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 9.498% or 7.78 million shares worth $36.34 million as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 2.59 shares estimated at $3.27 million under it, the former controlled 3.14% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.61% of the shares, roughly 2.15 shares worth around $2.71 million.
