Editas Medicine Inc (EDIT) Looks Ready for Growth Despite -19.74% Change This Year

Editas Medicine Inc (NASDAQ: EDIT) is -19.74% lower on its value in year-to-date trading and has touched a low of $6.08 and a high of $11.91 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 $7.45 in the last trading session, with the day’s gains setting it 0.68%.

Currently trading at $8.13, the stock is 5.20% and -12.14% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.0 million and changing 9.13% at the moment leaves the stock -6.81% off its SMA200. EDIT registered -18.94% loss for a year compared to 6-month gain of -6.34%. The firm has a 50-day simple moving average (SMA 50) of $11.92 and a 200-day simple moving average (SMA200) of -$1.45.

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The stock witnessed a -11.24% loss in the last 1 month and extending the period to 3 months gives it a 3.30%, and is 14.83% up 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 5.57% over the week and 5.38% over the month.

Profit margin for the company is -792.70%. Distance from 52-week low is 33.72% and -31.74% from its 52-week high. The company has generated returns on investments over the last 12 months (-50.62%).

Editas Medicine Inc quarterly earnings per share for the current quarter are estimated at -$0.56 with sales reaching $7.33M over the same period.The EPS is expected to grow by 25.36% this year, but quarterly earnings will post 39.80% year-over-year. Quarterly sales are estimated to grow 12.10% in year-over-year returns.

Editas Medicine Inc (EDIT) Top Institutional Holders

302 institutions hold shares in Editas Medicine Inc (EDIT), with institutional investors hold 78.32% of the company’s shares. The shares outstanding are 81.67M, and float is at 81.05M with Short Float at 15.06%. Institutions hold 77.96% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 8.17 million shares valued at $67.2 million. The investor’s holdings represent 10.00% of the EDIT Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 7.6 million shares valued at $62.51 million to account for 9.30% of the shares outstanding. The other top investors are State Street Corporation which holds 6.64 million shares representing 8.14% and valued at over $54.66 million, while Deep Track Capital, Lp holds 4.23% of the shares totaling 3.45 million with a market value of $28.42 million.

Editas Medicine Inc (EDIT) Insider Activity

A total of 3 insider transactions have happened at Editas Medicine Inc (EDIT) in the last six months, with sales accounting for 3 and purchases happening 0 times. The most recent transaction is an insider sale by Eaton Bruce,the company’sEVP, CBO AND CTO. SEC filings show that Eaton Bruce sold 103 shares of the company’s common stock on Dec 05 at a price of $10.90 per share for a total of $1122.0. Following the sale, the insider now owns 74791.0 shares.

Editas Medicine Inc disclosed in a document filed with the SEC on Nov 14 that Eaton Bruce (EVP, CBO AND CTO) sold a total of 695 shares of the company’s common stock. The trade occurred on Nov 14 and was made at $8.21 per share for $5706.0. Following the transaction, the insider now directly holds 74894.0 shares of the EDIT stock.

Still, SEC filings show that on Nov 07, Eaton Bruce (EVP, CBO AND CTO) disposed off 139 shares at an average price of $8.40 for $1168.0. The insider now directly holds 75,589 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 -51.94% down over the past 12 months.