Editas Medicine Inc (NASDAQ:EDIT) shares, rose in value, with the stock price down by -1.32% to the previous day’s close as strong demand from buyers drove the stock to $6.72.
Actively observing the price movement in the last trading, the stock closed the session at $6.81. The value of beta (5-year monthly) was 2.05. Referring to stock’s 52-week performance, its high was $11.91, and the low was $6.08. On the whole, EDIT has fluctuated by -25.99% over the past month.
With the market capitalization of Editas Medicine Inc currently standing at about $549.76 million, investors are eagerly awaiting this quarter’s results, scheduled for May 03, 2024 – May 07, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.66, which is expected to increase to -$0.46 for fiscal year -$2.65 and then to about -$2.67 by fiscal year 2025. Data indicates that the EPS growth is expected to be -31.20% in 2025, while the next year’s EPS growth is forecast to be -0.80%.
According to the average forecast, sales growth in current quarter could jump down -16.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $36.37 million, representing a decrease of -53.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that EDIT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of EDIT currently trading nearly -14.09% and -16.02% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.72, while the 7-day volatility ratio is showing 4.27% which for the 30-day chart, stands at 5.19%. Furthermore, Editas Medicine Inc (EDIT)’s beta value is 2.02, and its average true range (ATR) is 0.45.
A comparison of Editas Medicine Inc (EDIT) with its peers suggests the former has fared considerably weaker in the market. EDIT showed an intraday change of -1.32% in last session, and over the past year, it shrunk by -3.59%%.
Data on historical trading for Editas Medicine Inc (NASDAQ:EDIT) indicates that the trading volumes over the past 10 days have averaged 1.65 million and over the past 3 months, they’ve averaged 1.87 million. According to company’s latest data on outstanding shares, there are 81.77 million shares outstanding.
Nearly 1.22% of Editas Medicine Inc’s shares belong to company insiders and institutional investors own 73.24% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.93 million shares as on Mar 15, 2024, resulting in a short ratio of 5.91. According to the data, the short interest in Editas Medicine Inc (EDIT) stood at 17.02% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 12.59 million. The stock has fallen by -33.66% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the EDIT stock heading into the next quarter.
