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Editas Medicine Inc.’s (NASDAQ:EDIT) Analysis Might Be Just What You’re Looking For

Editas Medicine Inc. (NASDAQ:EDIT) traded at $14.61 at close of the session on Tuesday, 09/20/22, made an upward move of 0.21% on its previous day’s price.

Looking at the stock we see that its previous close was $14.58 and the beta (5Y monthly) reads 1.93 with the day’s price range being $14.30 – $14.81. In terms of its 52-week price range, EDIT has a high of $62.40 and a low of $9.59. The company’s stock has lost about -0.75% over that past 30 days.

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Editas Medicine Inc. has a market cap of $1.12 billion and is expected to release its quarterly earnings report on Feb 23, 2022 – Feb 28, 2022. Estimates by analysts give the company expected earnings per share (EPS) of -$0.82, with the EPS growth for the year raised at -$3.33 for 2022 and -$3.49 for next year. These figures represent -16.80% and -4.80% growth in EPS for the two years respectively.

The median projection represents growth squeezing down to 1,031.90% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $21.39 million, or -16.30% down from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the EDIT stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of 50% Sell.

Looking further, we note the current price level is -4.14% off its SMA20 and -9.63% from its 50-day simple moving average. The RSI (14) is pointing at 44.85 while the volatility over the past week is 7.10% and jumps to 7.05% over the past one month. The beta value is 2.01, while the average true range (ATR) is currently pointing at 1.11. The average price target for the stock over the next 12 months is $30.86, with the estimates having a low of $8.00 and a high of $80.00. These price ends are 45.24% and -447.57% off the current price level respectively, although investors could be excited at the prospect of a -88.23% if the EDIT share price touches on the median price of $27.50.

Let’s briefly compare Editas Medicine Inc. (EDIT) stock to its peers. We find that current price change of 0.21% and -74.90% over the past 12 months for EDIT competes that of Molecular Templates Inc. (MTEM), which has seen its stock price rise 2.03% in the last trading session and was -87.09% over the last one year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -1.13% and -1.01%, respectively, at close of the trading.

Coming back to Editas Medicine Inc. (NASDAQ:EDIT), we note that the average 3-month trading volume was 1.76 million, while that of the preceding 10-day period stands at 1.87 million. Current shares outstanding are 68.64 million.

The insiders hold 0.50% of the company’s shares while institutions hold 71.30%. The data shows that short shares as of Jul 14, 2022, stood at 16.38 million at a short ratio of 7.93. This represents a 23.86% short interest in shares outstanding on Jul 14, 2022. Shares short rose in July from the previous month at 14.62 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -44.97% down in year-to-date price movement.

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