What You Need To Know About Editas Medicine Inc. (EDIT)


Editas Medicine Inc. (NASDAQ:EDIT) finished Wednesday with an addition of $1.55 to close at $15.85, an upside of 10.84 percent. An average of 1,373,300 shares of common stock have been traded in the last five days. There was a gain of $0.73 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 1,528,020 shares traded, while the 50-day average volume stands at 1,634,592.

EDIT stock has decreased by -17.15% in the last month. The company shares reached their 1-month lowest point of $14.10 on 09/01/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $9.59 and a high of $72.50 in 52 weeks. It has reached a new high 1 time so far this year and lost -40.30% or -$10.70 in price. In spite of this, the price is down -78.14% from the 52-week high.

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Insider Transactions

30 days have passed since Editas Medicine Inc. (EDIT) last reported insider trading activity. Eaton Bruce, who is EVP, CHIEF BUSINESS OFFICER, most recently acquired $293 shares at $18.60 per share on Aug 09. In this transaction, the insider spent $5,449. EVP, CHIEF SCIENTIFIC OFFICER, Shearman Mark S, disposed of 5,145 shares at a price of $10.06 on Jun 15. The insider now owns more than $51,745 worth of shares. Prior to that, EVP, CHIEF BUSINESS OFFICER Eaton Bruce went on to Sale 1,123 shares at $11.54 each on Jun 03. An amount of $12,956 was transacted.

Valuation Metrics

Editas Medicine Inc. (EDIT) stock’s beta is 2.03. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 35.62, the price-to-book (PB) ratio at 2.34.

Financial Health

The quick ratio of Editas Medicine Inc. for the three months ended June 29 was 12.70, and the current ratio was 12.70, 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. Its gross profit as reported stood at $218.69 million compared to revenue of $25.54 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 -28.40%.

Earnings Surprise

For the three-month period that ended June 29, Editas Medicine Inc. had $283.16 million in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$53.45 million in the quarter, while revenues were shrunk -3.39%. The analyst consensus anticipated Editas Medicine Inc.’s latest quarter earnings to come in at -$0.82 per share, but it turned out to be -$0.78, a 4.90% surprise. For the quarter, EBITDA amounted to -$52.64 million. Shareholders own equity worth $68.74 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 September was 52.31%, suggesting the stock is Neutral, with historical volatility in this time frame at 84.50%.

As of today, EDIT’s price is $15.02 +4.83% or $0.73 from its 5-day moving average. EDIT is currently trading -11.90% lower than its 20-day SMA and -15.56% lower than its 100-day SMA. However, the stock’s current price level is +21.55% above the SMA50 and -56.30% below the SMA200.

The stochastic %K and %D were 31.12% and 21.79%, respectively, and the average true range (ATR) was 1.16. With the 14-day stochastic at 69.72% and the average true range at 1.19, the RSI (14) stands at 50.49%. The stock has reached -0.14 on the 9-day MACD Oscillator while the 14-day reading was at -0.21.

Analyst Ratings

SVB Leerink launched coverage on Editas Medicine Inc. (NASDAQ: EDIT) in its analyst report released on October 19, 2021. The firm assigned the stock a Mkt perform rating. The consensus rating for Editas Medicine Inc. (EDIT) among analysts is Hold. According to current brokerage recommendations, 3 brokerage firms advise that investors sell EDIT, while 7 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 6 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 $8.00 and $80.00, with a median target of $27.50. Taking a look at these predictions, the average price target given by analysts for Editas Medicine Inc. (EDIT) stock is $30.86.


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