Editas Medicine Inc. (NASDAQ: EDIT) is -29.91% lower on its value in year-to-date trading and has touched a low of $14.01 and a high of $99.95 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The EDIT stock was last observed hovering at around $52.42 in the last trading session, with the day’s loss setting it -3.28% off its average median price target of $45.00 for the next 12 months. It is also 42.86% off the consensus price target high of $86.00 offered by 12 analysts, but current levels are -251.0% lower than the price target low of $14.00 for the same period.
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Currently trading at $49.14, the stock is -19.11% and -27.89% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.91 million and changing -6.26% at the moment leaves the stock 21.95% off its SMA200. EDIT registered 107.43% gain for a year compared to 6-month gain of 36.20%. The firm has a 50-day simple moving average (SMA 50) of $66.77 and a 200-day simple moving average (SMA200) of $45.40.
The stock witnessed a -25.27% loss in the last 1 month and extending the period to 3 months gives it a 75.31%, and is -12.95% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.87% over the week and 8.75% over the month.
Editas Medicine Inc. (EDIT) has around 208 employees, a market worth around $3.19B and $91.60M in sales. Profit margin for the company is -99.60%. Distance from 52-week low is 250.75% and -50.84% from its 52-week high. The company has generated returns on investments over the last 12 months (-53.70%).
Editas Medicine Inc. (EDIT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Editas Medicine Inc. (EDIT) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 2.60, where 4 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Editas Medicine Inc. is expected to release its quarterly report on 05/17/2021 and quarterly earnings per share for the current quarter are estimated at -$0.74 with sales reaching $5.64M over the same period.The EPS is expected to shrink by -14.60% this year, but quarterly earnings will post 311.50% year-over-year. Quarterly sales are estimated to shrink -54.10% in year-over-year returns.
Editas Medicine Inc. (EDIT) Top Institutional Holders
311 institutions hold shares in Editas Medicine Inc. (EDIT), with 849.47k shares held by insiders accounting for 1.37% while institutional investors hold 83.35% of the company’s shares. The shares outstanding are 62.14M, and float is at 61.04M with Short Float at 14.77%. Institutions hold 82.21% of the Float.
The top institutional shareholder in the company is ARK Investment Management, LLC with over 10.13 million shares valued at $709.9 million. The investor’s holdings represent 16.15% of the EDIT Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 5.82 million shares valued at $408.38 million to account for 9.29% of the shares outstanding. The other top investors are Blackrock Inc. which holds 5.31 million shares representing 8.46% and valued at over $371.96 million, while Nikko Asset Management Americas, Inc. holds 7.00% of the shares totaling 4.39 million with a market value of $307.65 million.
Editas Medicine Inc. (EDIT) Insider Activity
A total of 13 insider transactions have happened at Editas Medicine Inc. (EDIT) in the last six months, with sales accounting for 9 and purchases happening 4 times. The most recent transaction is an insider sale by Collins Cynthia, the company’s CEO. SEC filings show that Collins Cynthia sold 1,262 shares of the company’s common stock on Feb 09 at a price of $66.65 per share for a total of $84112.0. Following the sale, the insider now owns 43760.0 shares.
Editas Medicine Inc. disclosed in a document filed with the SEC on Jan 12 that ROBERTSON MICHELLE (Chief Financial Officer) sold a total of 1,568 shares of the company’s common stock. The trade occurred on Jan 12 and was made at $78.27 per share for $0.12 million. Following the transaction, the insider now directly holds 18432.0 shares of the EDIT stock.
Still, SEC filings show that on Dec 15, Albright Charles (EVP/Chief Scientific Officer) disposed off 10,000 shares at an average price of $63.22 for $0.63 million. The insider now directly holds 24,907 shares of Editas Medicine Inc. (EDIT).
Editas Medicine Inc. (EDIT): Who are the competitors?
The company’s main competitors (and peers) include Molecular Templates Inc. (MTEM) that is trading -34.00% down over the past 12 months. Short interest in the company’s stock has fallen -9.65% from the last report on Dec 30, 2020 to stand at a total of 9.89 million short shares sold with a short interest ratio of 2.8.