Editas Medicine Inc (NASDAQ:EDIT) price on Thursday, April 10, fall -3.48% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $1.11.
A look at the stock’s price movement, the close in the last trading session was $1.15. Turning to its 52-week performance, $6.80 and $0.91 were the 52-week high and 52-week low respectively. Overall, EDIT moved -26.49% over the past month.
Editas Medicine Inc’s market cap currently stands at around $92.92 million, with investors looking forward to this quarter’s earnings report slated for in May.
The average forecast suggests down to a -30.74% 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 10.83M, representing a -66.47% 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 100% 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 -9.85% and -24.32% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.99, while 7-day volatility ratio is 14.60% and 9.07% in the 30-day chart. Further, Editas Medicine Inc (EDIT) has a beta value of 2.19, and an average true range (ATR) of 0.15. Analysts have given the company’s stock an average 52-week price target of $9, forecast between a low of $5 and high of $10. Looking at the price targets, the low is -350.45% off current price level while to achieve the yearly target high, price needs to move -800.9%. Nonetheless, investors will most likely welcome a -710.81% jump to $9 which is the analysts’ median price.
If we refocus on Editas Medicine Inc (NASDAQ:EDIT), historical trading data shows that trading volumes averaged 3.80 million over the past 3 months. The company’s latest data on shares outstanding shows there are 83.71 million shares.
The 0.91% of Editas Medicine Inc’s shares are in the hands of company insiders while institutional holders own 62.07% of the company’s shares. Current price change has pushed the stock -12.60% 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.
