Editas Medicine Inc. (EDIT): A Technical View


As of Friday close, Editas Medicine Inc.’s (NASDAQ:EDIT) stock was down -$0.59, moving down -3.83 percent to $14.83. The average number of shares traded per day over the past five days has been 1,289,980 shares. 4 times new highs have been achieved over the past 5 days. In the last twenty days, the average volume was 1,553,110, while in the previous 50 days, it was 1,695,736.

Since last month, EDIT stock retreated -22.56%. Shares of the company fell to $14.10 on 09/01/22, the lowest level in the past month. A 52-week high of $73.03 was reached on 01/03/22 after having rallying from a 52-week low of $9.59. Since the beginning of this year, EDIT’s stock price has dropped by -44.14% or -$11.72, and marked a new high 1 time. However, the stock has declined by -79.69% since its 52-week high.

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Editas Medicine Inc. (EDIT) last reported insider trading activity 25 days ago on Aug 09. Eaton Bruce, the EVP, CHIEF BUSINESS OFFICER of the company, disposed of 293 shares for $18.60 on Aug 09. It resulted in a $5,449 divestment by the insider. Shearman Mark S sold 5,145 shares at an average price of $10.06 on Jun 15. The insider now owns 68,349 shares following the transaction. On Jun 03, EVP, CHIEF BUSINESS OFFICER Eaton Bruce sold 1,123 shares at $11.54 apiece. The transaction was valued at $12,956.

Valuation Metrics

The stock’s beta is 2.04. Besides these, the trailing price-to-sales (P/S) ratio of 35.17, the price-to-book (PB) ratio of 2.19.

Financial Health

In the three months ended June 29, Editas Medicine Inc.’s quick ratio stood at 12.70, while its current ratio was 12.70, showing that the company is able to pay off its debt. Based on annual data, EDIT earned $218.69 million in gross profit and brought in $25.54 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -34.90%. Return on equity (ROE) for the past 12 months was -34.80%.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. EDIT’s revenue rose 94.03% to $6.77 million during the quarter, while net income inched up to $6.36 million. While analysts expected Editas Medicine Inc. to report -$0.82 quarterly earnings, the actual figure was -$0.78 per share, beating the consensus estimate by 4.90%. During the quarter, the company generated -$52.64 million in EBITDA. The liabilities of Editas Medicine Inc. were 115.42 million at the end of its most recent quarter ended June 29, and its total debt was $20.26 million. The value of shareholders’ equity is $68.74 million.

Technical Picture

This quick technical analysis looks at Editas Medicine Inc.’s (EDIT) price momentum. With a historical volatility rate of 70.44%, the RSI 9-day stood at 40.44% on 02 September.

At present, EDIT shares trade -23.64% below its 20-day simple moving average and -15.59% percent below its 100-day simple moving average. However, the stock is currently trading approximately +9.85% above its SMA50 and -60.11% below its SMA200.

Stochastic coefficient K was 17.88% and Stochastic coefficient D was 15.85%, while ATR was 1.14. Given the Stochastic reading of 17.18% for the 14-day period, the RSI (14) reading has been calculated as 43.38%. As of today, the MACD Oscillator reading stands at -0.27, while the 14-day reading stands at -0.47.

Analyst Ratings

SVB Leerink launched its rating on Editas Medicine Inc. (NASDAQ: EDIT) to a Mkt perform in a note to investors on October 19, 2021. Editas Medicine Inc. (EDIT) has been rated Hold by analysts. According to 3 brokerage firms, EDIT is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Editas Medicine Inc. stock as buy, with 6 recommending it as overweight.

With a median target price of $27.50, the current consensus forecast for the stock is $8.00 – $80.00. Based on these forecasts, analysts predict Editas Medicine Inc. (EDIT) will achieve an average price target of $30.86.


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