Editas Medicine Inc. (NASDAQ:EDIT) finished Friday with an addition of $0.02 to close at $8.68, an upside of 0.23 percent. An average of 1,464,940 shares of common stock have been traded in the last five days. There was a fall of -$0.37 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 1,484,695 shares traded, while the 50-day average volume stands at 2,109,418.
EDIT stock has decreased by -3.02% in the last month. The company shares reached their 1-month lowest point of $8.25 on 08/08/23. With the stock rallying to its 52-week high on 02/03/23, shares of the company touched a low of $6.33 and a high of $19.50 in 52 weeks. It has reached a new high 8 times so far this year and lost -2.14% or -$0.19 in price. In spite of this, the price is down -55.49% from the 52-week high.
Insider Transactions
EDIT stock investors should be aware that Editas Medicine Inc. (EDIT) stock had its last reported insider trading activity 4 days ago on Aug 08. In this transaction, the insider spent $1,183. SVP, CHIEF MEDICAL OFFICER, Mei Baisong, disposed of 4,317 shares at a price of $8.80 on Jul 19. The insider now owns more than $37,990 worth of shares. Prior to that, CEO O’Neill Gilmore Neil went on to Sale 6,486 shares at $9.50 each on Jun 05. An amount of $61,638 was transacted.
Valuation Metrics
Editas Medicine Inc. (EDIT) stock’s beta is 1.79. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 37.72, the price-to-book (PB) ratio at 1.88.
Financial Health
The quick ratio of Editas Medicine Inc. for the three months ended June 29 was 5.70, and the current ratio was 5.70, 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. Editas Medicine Inc.’s EBITDA margin for the year ending June 29 is -1114.11%. Its gross profit as reported stood at $245.66 million compared to revenue of $19.71 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 -42.20%.
Earnings Surprise
For the three-month period that ended June 29, Editas Medicine Inc. had $211.15 million in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$40.29 million in the quarter, while revenues were shrunk -32.66%. The analyst consensus anticipated Editas Medicine Inc.’s latest quarter earnings to come in at -$0.76 per share, but it turned out to be -$0.56, a 26.30% surprise. For the quarter, EBITDA amounted to -$42.55 million. Shareholders own equity worth $81.63 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 11 August was 47.10%, suggesting the stock is Neutral, with historical volatility in this time frame at 59.95%.
As of today, EDIT’s price is $8.70 -4.09% or -$0.37 from its 5-day moving average. EDIT is currently trading +0.81% higher than its 20-day SMA and +5.85% higher than its 100-day SMA. However, the stock’s current price level is -5.45% below the SMA50 and -23.73% below the SMA200.
The stochastic %K and %D were 37.53% and 38.19%, respectively, and the average true range (ATR) was 0.46. With the 14-day stochastic at 33.86% and the average true range at 0.46, the RSI (14) stands at 48.15%. The stock has reached -0.12 on the 9-day MACD Oscillator while the 14-day reading was at -0.06.
Analyst Ratings
Raymond James upgraded Editas Medicine Inc. (NASDAQ: EDIT) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Mkt perform. The consensus rating for Editas Medicine Inc. (EDIT) among analysts is Hold. According to current brokerage recommendations, 2 brokerage firms advise that investors sell EDIT, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 5 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 $7.00 and $30.00, with a median target of $12.00. Taking a look at these predictions, the average price target given by analysts for Editas Medicine Inc. (EDIT) stock is $13.18.
