Are You Looking To Buy Editas Medicine Inc. (EDIT)? First, Read This

Editas Medicine Inc. (NASDAQ:EDIT) trading with a subtraction of -$3.96 to $35.07 on Friday, a downside of -10.15 percent. An average of 1,564,150 shares of common stock have been traded in the last five days. There was a fall of -$4.87 in the past week. The last 20 days have seen an average of 2,110,728 shares traded, while the 50-day average volume stands at 1,915,507.

EDIT stock has decreased by -39.32% in the last month. The company shares reached their 1-month lowest point of $34.91 on 10/08/21. With the stock rallying to its 52-week high on 01/08/21, shares of the company touched a low of $27.12 and a high of $99.95 in 52 weeks. In spite of this, the price is down -64.91% from the 52-week high.


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Insider Transactions

60 days have passed since Editas Medicine Inc. (EDIT) last reported insider trading activity. ROBERTSON MICHELLE, who is Chief Financial Officer, most recently acquired $2,500 shares at $60.00 per share on Aug 09. In this transaction, the insider spent $150,000. CEO, Collins Cynthia, disposed of 1,262 shares at a price of $66.65 on Feb 09. The insider now owns more than $84,112 worth of shares. Prior to that, Chief Financial Officer ROBERTSON MICHELLE went on to Sale 1,568 shares at $78.27 each on Jan 12. An amount of $122,727 was transacted.

Valuation Metrics

Editas Medicine Inc. (EDIT) has a trailing price-to-earnings (P/E) ratio of 34.65 for the broader industry and 31.97 for the sector. This means investors are optimistic about the stock’s future prospects. The stock’s beta is 2.06. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 33.81, the price-to-book (PB) ratio at 4.32.

The quick ratio of Editas Medicine Inc. for the three months ended June 29 was 9.30, and the current ratio was 9.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Editas Medicine Inc.’s EBITDA margin for the year ending June 29 is -144.25%. Its gross profit as reported stood at $225.57 million compared to revenue of $90.73 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Editas Medicine Inc.’s return on assets was -24.60%, compared to -33.9% over the last five years. In the past year, the return on investment has been -34.30%, and the 5-year average is -64.1%. Meanwhile, the return on equity (ROE) for the past 12 months has been -32.00% and the 5-year average holds at -117.3%. For the broader industry, ROE averaged -68.79 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Editas Medicine Inc. had $272.72 million in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $0.38 million in the quarter, while revenues of $6.5 million were shrunk -2728.95%. The analyst consensus anticipated Editas Medicine Inc.’s latest quarter earnings to come in at -$0.83 per share, but it turned out to be -$0.81, a 2.40% surprise. For the quarter, EBITDA amounted to -$54.21 million. Shareholders own equity worth $68.26 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Editas Medicine Inc. (EDIT) price momentum. RSI 9-day as of the close on 07 October was 20.48%, suggesting the stock is oversold, with historical volatility in this time frame at 104.75%.

As of today, EDIT’s price is $37.43 -12.20% or -$4.87 from its 5-day moving average. EDIT is currently trading -46.99% lower than its 20-day SMA and +4.38% higher than its 100-day SMA. However, the stock’s current price level is -16.37% below the SMA50 and -56.77% below the SMA200.

The stochastic %K and %D were 3.74% and 3.73%, respectively, and the average true range (ATR) was 3.64. With the 14-day stochastic at 0.48% and the average true range at 3.82, the RSI (14) stands at 26.01%. The stock has reached -3.14 on the 9-day MACD Oscillator while the 14-day reading was at -9.90.

Analyst Ratings

Stifel launched coverage on Editas Medicine Inc. (NASDAQ: EDIT) in its analyst report released on September 24, 2021. The firm assigned the stock a a Hold rating.The consensus rating for Editas Medicine Inc. (EDIT) among analysts is Overweight. According to current brokerage recommendations, 3 brokerage firms advise that investors sell EDIT, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 7 others rate it as a “buy”.

What is EDIT’s price target for the next 12 months?

Analysts predict a range of price targets between $19.00 and $81.00, with a median target of $44.00. Taking a look at these predictions, the average price target given by analysts for Editas Medicine Inc. (EDIT) stock is $50.77.

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