Editas Medicine Inc. (NASDAQ:EDIT) saw a downside of -5.91% to $8.52 after subtracting -$0.53 on Monday. The 5-day average trading volume is 1,735,919 shares of the company’s common stock. It has gained $9.52 in the past week and touched a new high 3 times within the past 5 days. An average of 1,393,100 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,097,904.
EDIT’s 1-month performance is 1.25% or $0.11 on its low of $8.39 reached on 08/07/23. The company’s shares have touched a 52-week low of $6.33 and high of $19.97, with the stock’s rally to the 52-week high happening on 02/03/23. YTD, EDIT has lost -4.00% or -$0.35 and has reached a new high 8 times. However, the current price is down -57.36% from the 52-week high price.
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Insider Transactions
EDIT stock investors last saw insider trading activity on Jul 19.Mei Baisong (SVP, CHIEF MEDICAL OFFICER) most recently sold 4,317 shares at $8.80 per share on Jul 19. This transaction cost the insider $37,990. CEO, O’Neill Gilmore Neil, sold 6,486 shares at a price of $9.50 on Jun 05. Then, on Jun 05, EVP, CBO AND CTO Eaton Bruce sold 105 shares at a price of $9.50 per share. This transaction amounted to $998.
Valuation Metrics
EDIT stock has a beta of 1.78. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 37.00 while the price-to-book (PB) in the most recent quarter is 1.85.
Editas Medicine Inc.’s quick ratio for the period ended June 29 was 5.70, with the current ratio over the same period at 5.70. The trailing 12-month EBITDA margin is -1114.11%. The firm’s gross profit as reported stood at $245.66 million against revenue of $19.71 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Editas Medicine Inc.’s cash and short-term investments amounted to $211.15 million against total debt of $37.19 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -32.66% to -$40.29 million, while revenue of -$49.04 million was -21.72% off the previous quarter. Analysts expected EDIT to announce -$0.76 per share in earnings in its latest quarter, but it posted -$0.56, representing a 26.30% surprise. EBITDA for the quarter stood at more than -$42.55 million. EDIT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 142.04 million, with total debt at $37.19 million. Shareholders hold equity totaling $81.63 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 04 August was 42.60% to suggest the stock is trending Neutral, with historical volatility in this time period at 52.19%.
The stock’s 5-day moving average is $8.94, reflecting a -2.90% or -$0.26 change from its current price. EDIT is currently trading -3.34% above its 20-day SMA, +1.13% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -9.79% and SMA200 by-31.58%.
Stochastic %K and %D was 50.41% and 58.95% and the average true range (ATR) pointed at 0.48. The RSI (14) points at 45.39%, while the 14-day stochastic is at 11.95% with the period’s ATR at 0.48. The stock’s 9-day MACD Oscillator is pointing at 0.14 and 0.16 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Editas Medicine Inc. (NASDAQ: EDIT), Raymond James upgraded it to an Outperform rating. They previously had a Mkt perform rating on the stock.
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 $30.00, 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 $13.18.
