Editas Medicine Inc. (NASDAQ:EDIT) saw a downside of -5.54% to close Tuesday at $8.35 after subtracting -$0.49 on the day. The 5-day average trading volume is 1,583,460 shares of the company’s common stock. It has gained $9.50 in the past week and touched a new high 2 times within the past 5 days. An average of 2,147,380 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,825,992.
EDIT’s 1-month performance is -16.75% or -$1.68 on its low of $8.21 reached on 12/27/22. The company’s shares have touched a 52-week low of $8.69 and high of $29.85, with the stock’s rally to the 52-week high happening on 01/03/22. YTD, EDIT has lost -68.55% or -$18.20 and has reached a new high 1 time. However, the current price is down -72.03% from the 52-week high price.
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EDIT stock investors last saw insider trading activity on Dec 05.Eaton Bruce (EVP, CHIEF BUSINESS OFFICER) most recently sold 102 shares at $10.23 per share on Dec 05. This transaction cost the insider $1,043. EVP, CHIEF FINANCIAL OFFICER, ROBERTSON MICHELLE, sold 193 shares at a price of $10.23 on Dec 05. Then, on Nov 08, EVP, CHIEF BUSINESS OFFICER Eaton Bruce sold 289 shares at a price of $11.02 per share. This transaction amounted to $3,185.
EDIT stock has a beta of 1.88. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 23.11 while the price-to-book (PB) in the most recent quarter is 1.38.
Editas Medicine Inc.’s quick ratio for the period ended June 29 was 10.10, with the current ratio over the same period at 10.10. The firm’s gross profit as reported stood at $218.69 million against revenue of $25.54 million.
For the quarterly period ending June 29 this year, Editas Medicine Inc.’s cash and short-term investments amounted to $208.91 million against total debt of $20.26 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 29.88% to -$55.73 million, while revenue of -$53.45 million was 4.09% off the previous quarter. Analysts expected EDIT to announce -$0.82 per share in earnings in its latest quarter, but it posted -$0.78, representing a 4.90% surprise. EBITDA for the quarter stood at more than -$55.92 million. EDIT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 116.28 million, with total debt at $20.26 million. Shareholders hold equity totaling $68.76 million.
Let’s look briefly at Editas Medicine Inc. (EDIT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 27 December was 27.02% to suggest the stock is trending oversold, with historical volatility in this time period at 67.20%.
The stock’s 5-day moving average is $8.93, reflecting a -8.94% or -$0.82 change from its current price. EDIT is currently trading -15.40% above its 20-day SMA, -56.40% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -26.63% and SMA200 by-44.56%.
Stochastic %K and %D was 7.34% and 11.44% and the average true range (ATR) pointed at 0.62. The RSI (14) points at 32.34%, while the 14-day stochastic is at 6.06% with the period’s ATR at 0.66. The stock’s 9-day MACD Oscillator is pointing at -0.62 and -0.75 on the 14-day charts.
In the most recent analyst report for Editas Medicine Inc. (NASDAQ: EDIT), Citigroup launched coverage with a Neutral rating. Analysts offering their rating for EDIT stock have a consensus rating for the stock as Hold. Currently, 3 brokerage advisors rate EDIT as a “sell,”, while 11 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 4 have offered a “buy” rating.
What is EDIT’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $7.00 and a high of $50.00, with their median price target at $12.00. Looking at these predictions, the average price target given by analysts is for Editas Medicine Inc. (EDIT) stock is $16.38.