Editas Medicine Inc (NASDAQ:EDIT) price on Wednesday, February 05, rose 6.20% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.37.
A look at the stock’s price movement, the close in the last trading session was $1.29, moving within a range at $1.29 and $1.38. The beta value (5-Year monthly) was 2.006. Turning to its 52-week performance, $11.58 and $1.12 were the 52-week high and 52-week low respectively. Overall, EDIT moved 2.24% over the past month.
Editas Medicine Inc’s market cap currently stands at around $113.09 million, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 37.17M for the company’s revenue for the quarter, with a low and high estimate of 60k and 97M respectively. The average forecast suggests down to a -38.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 41.15M, representing a -47.32% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that EDIT is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 6 recommend EDIT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
EDIT’s current price about 4.78% and -12.51% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 47.99, while 7-day volatility ratio is 7.43% and 9.04% in the 30-day chart. Further, Editas Medicine Inc (EDIT) has a beta value of 1.97, and an average true range (ATR) of 0.12. Analysts have given the company’s stock an average 52-week price target of $10, forecast between a low of $5 and high of $15. Looking at the price targets, the low is -264.96% off current price level while to achieve the yearly target high, price needs to move -994.89%. Nonetheless, investors will most likely welcome a -629.93% jump to $10 which is the analysts’ median price.
If we refocus on Editas Medicine Inc (NASDAQ:EDIT), historical trading data shows that trading volumes averaged 2.12 over the past 10 days and 2.67 million over the past 3 months. The company’s latest data on shares outstanding shows there are 82.54 million shares.
The 0.93% of Editas Medicine Inc’s shares are in the hands of company insiders while institutional holders own 67.58% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 19.15 million on 2025-01-15, giving us a short ratio of 6.43. The data shows that as of 2025-01-15 short interest in Editas Medicine Inc (EDIT) stood at 2938.0 of shares outstanding, with shares short rising to 16.93 million registered in 2024-12-13. Current price change has pushed the stock 7.87% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the EDIT stock continues to rise going into the next quarter.
