In What Direction Will Editas Medicine Inc.’s (NASDAQ:EDIT) Stock Goes From Here?

Editas Medicine Inc. (NASDAQ: EDIT) closed the day trading at $8.18 up 1.61% from the previous closing price of $8.05. In other words, the price has increased by $+0.13 from its previous closing price. On the day, 2399700 shares were traded. EDIT stock price reached its highest trading level at $8.30 during the session, while it also had its lowest trading level at $7.86.

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Ratios:

For a better understanding of EDIT, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 10.10 and its Current Ratio is at 10.10. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Citigroup on December 13, 2022, initiated with a Neutral rating and assigned the stock a target price of $11.

Oppenheimer Downgraded its Outperform to Perform on November 18, 2022, whereas the target price for the stock was revised from $28 to $12.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Jan 10 when ROBERTSON MICHELLE sold 1,752 shares for $8.16 per share. The transaction valued at 14,296 led to the insider holds 80,530 shares of the business.

Eaton Bruce sold 102 shares of EDIT for $1,043 on Dec 05. The EVP, CHIEF BUSINESS OFFICER now owns 64,636 shares after completing the transaction at $10.23 per share. On Dec 05, another insider, ROBERTSON MICHELLE, who serves as the EVP, CHIEF FINANCIAL OFFICER of the company, sold 193 shares for $10.23 each. As a result, the insider received 1,974 and left with 82,282 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 21.32 while its Price-to-Book (P/B) ratio in mrq is 1.36.

Stock Price History:

Over the past 52 weeks, EDIT has reached a high of $21.59, while it has fallen to a 52-week low of $7.70. The 50-Day Moving Average of the stock is 9.77, while the 200-Day Moving Average is calculated to be 12.94.

Shares Statistics:

Over the past 3-months, EDIT traded about 1.86M shares per day on average, while over the past 10 days, EDIT traded about 1.92M shares per day. A total of 68.74M shares are outstanding, with a floating share count of 68.43M. Insiders hold about 0.30% of the company’s shares, while institutions hold 73.30% stake in the company. Shares short for EDIT as of Oct 13, 2022 were 18.54M with a Short Ratio of 21.65M, compared to 17.24M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 26.98% and a Short% of Float of 30.26%.

Earnings Estimates

Current recommendations for the stock of the company come from 16 analysts. On average, analysts expect EPS of -$0.86 for the current quarter, with a high estimate of -$0.72 and a low estimate of -$1.01, while EPS last year was -$0.57. The consensus estimate for the next quarter is -$0.9, with high estimates of -$0.72 and low estimates of -$1.18.

Analysts are recommending an EPS of between -$3.1 and -$3.72 for the fiscal current year, implying an average EPS of -$3.3. EPS for the following year is -$3.48, with 17 analysts recommending between -$2.4 and -$5.04.

Revenue Estimates

A total of 17 analysts have provided revenue estimates for EDIT’s current fiscal year. The highest revenue estimate was $33.13M, while the lowest revenue estimate was $13.1M, resulting in an average revenue estimate of $22.12M. In the same quarter a year ago, actual revenue was $25.54M, down -13.40% from the average estimate.