As of Wednesday close, Editas Medicine Inc.’s (NASDAQ:EDIT) stock was down -$0.26, moving down -2.97 percent to $8.50. The average number of shares traded per day over the past five days has been 1,228,040 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.34 fall in that time frame. In the last twenty days, the average volume was 1,462,925, while in the previous 50 days, it was 2,089,660.
Since last month, EDIT stock retreated -2.52%. Shares of the company fell to $8.25 on 08/08/23, the lowest level in the past month. A 52-week high of $18.35 was reached on 02/03/23 after having rallying from a 52-week low of $6.33. Since the beginning of this year, EDIT’s stock price has dropped by -4.17% or -$0.37, and marked a new high 8 times. However, the stock has declined by -53.68% since its 52-week high.
EDIT stock investors should be aware that Editas Medicine Inc. (EDIT) stock had its last reported insider trading activity 6 days ago on Aug 11. Eaton Bruce, the EVP, CBO AND CTO of the company, disposed of 702 shares for $8.59 on Aug 11. It resulted in a $6,033 divestment by the insider. Eaton Bruce sold 141 shares at an average price of $8.39 on Aug 08. The insider now owns 76,533 shares following the transaction. On Jul 19, SVP, CHIEF MEDICAL OFFICER Mei Baisong sold 4,317 shares at $8.80 apiece. The transaction was valued at $37,990.
Valuation Metrics
The stock’s beta is 1.78. Besides these, the trailing price-to-sales (P/S) ratio of 35.87, the price-to-book (PB) ratio of 1.52.
Financial Health
In the three months ended June 29, Editas Medicine Inc.’s quick ratio stood at 8.10, while its current ratio was 8.10, showing that the company is able to pay off its debt. Based on annual data, EDIT earned $245.66 million in gross profit and brought in $19.71 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 -62.60%. Return on equity (ROE) for the past 12 months was -55.10%.
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 fell -120.07% to $9.85 million during the quarter, while net income inched up to $2.89 million. While analysts expected Editas Medicine Inc. to report -$0.76 quarterly earnings, the actual figure was -$0.56 per share, beating the consensus estimate by 26.30%. During the quarter, the company generated -$42.55 million in EBITDA. The liabilities of Editas Medicine Inc. were 142.04 million at the end of its most recent quarter ended June 29, and its total debt was $37.19 million. The value of shareholders’ equity is $81.63 million.
Technical Picture
This quick technical analysis looks at Editas Medicine Inc.’s (EDIT) price momentum. With a historical volatility rate of 50.50%, the RSI 9-day stood at 42.20% on 16 August.
With respect to its five-day moving average, the current Editas Medicine Inc. price is down by -3.85% percent or -$0.34. At present, EDIT shares trade -3.63% below its 20-day simple moving average and +14.56% percent above its 100-day simple moving average. However, the stock is currently trading approximately -9.96% below its SMA50 and -29.05% below its SMA200.
Stochastic coefficient K was 30.97% and Stochastic coefficient D was 33.25%, while ATR was 0.43. Given the Stochastic reading of 19.69% for the 14-day period, the RSI (14) reading has been calculated as 45.10%. As of today, the MACD Oscillator reading stands at -0.08, while the 14-day reading stands at -0.15.
Analyst Ratings
Raymond James upgraded its rating on Editas Medicine Inc. (NASDAQ: EDIT) to an Outperform in a note to investors on June 12, 2023. The analysts firm previously had a Mkt perform rating on the stock.Editas Medicine Inc. (EDIT) has been rated Hold by analysts. According to 2 brokerage firms, EDIT is a sell, and 10 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Editas Medicine Inc. stock as buy, with 5 recommending it as overweight.
With a median target price of $12.00, the current consensus forecast for the stock is $7.00 – $30.00. Based on these forecasts, analysts predict Editas Medicine Inc. (EDIT) will achieve an average price target of $13.18.
