Editas Medicine Inc. [EDIT] Stock trading around $33.90 per share: What’s Next?

Editas Medicine Inc. [NASDAQ: EDIT] traded at a high on 09/18/20, posting a 3.67 gain after which it closed the day’ session at $33.90. The company report on September 11, 2020 that Editas Medicine Announces U.S. Patent and Trademark Office Grants the Broad Institute Priority Benefit in CRISPR Interference.

Editas Medicine, Inc. (Nasdaq: EDIT), a leading genome editing company, announced today the U.S. Patent and Trademark Office (USPTO) issued a decision in an interference between the University of California, the University of Vienna, Emmanuelle Charpentier (CVC) and the Broad Institute, Inc. (Broad) regarding certain Broad CRISPR/Cas9 patents Editas Medicine exclusively licenses. The USPTO granted Broad’s motion for priority benefit while denying CVC priority benefit to its two earliest provisional patent applications. As a result, Broad will enter the priority phase of the interference as “Senior Party” while CVC remains the “Junior Party” for purposes of determining which entity was the first to invent the inventions at issue.

“We are pleased with the U.S. Patent and Trademark Office’s decision, granting Broad’s motion for priority benefit. We look forward to the proceedings, and we remain confident in our foundational patent portfolio that we in-license from the Broad Institute. While these proceedings are ongoing and will take time, we believe the outcome will ultimately be positive for the Broad Institute and their innovative and fundamental work on CRISPR/Cas9 gene editing,” said Cynthia Collins, President and Chief Executive Officer, Editas Medicine.

The results of the trading session contributed to over 1702765 shares changing hands. Over the past one week, the price volatility of Editas Medicine Inc. stands at 4.42% while the volatility over the past one month is 5.55%.

The market cap for EDIT stock reached $2.04 billion, with 62.27 million shares outstanding and 60.92 million shares in the current float. Compared to the average trading volume of 1.06M shares, EDIT reached a trading volume of 1702765 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Editas Medicine Inc. [EDIT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EDIT shares is $41.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EDIT stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

SunTrust have made an estimate for Editas Medicine Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 18, 2020. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Equal Weight. The new note on the price target was released on February 21, 2020, representing the official price target for Editas Medicine Inc. stock.

The Average True Range (ATR) for Editas Medicine Inc. is set at 1.80, with the Price to Sales ratio for EDIT stock in the period of the last 12 months amounting to 62.46. The Price to Book ratio for the last quarter was 4.40, with the Price to Cash per share for the same quarter was set at 9.97.

How has EDIT stock performed recently?

Editas Medicine Inc. [EDIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.04. With this latest performance, EDIT shares dropped by -8.30% in over the last four-week period, additionally plugging by 77.67% over the last 6 months – not to mention a rise of 34.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EDIT stock in for the last two-week period is set at 54.53, with the RSI for the last a single of trading hit 57.25, and the three-weeks RSI is set at 52.86 for Editas Medicine Inc. [EDIT]. The present Moving Average for the last 50 days of trading for this stock 33.00, while it was recorded at 32.61 for the last single week of trading, and 28.20 for the last 200 days.

Editas Medicine Inc. [EDIT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Editas Medicine Inc. [EDIT] shares currently have an operating margin of -686.39. Editas Medicine Inc.’s Net Margin is presently recorded at -651.43.

Return on Total Capital for EDIT is now -50.32, given the latest momentum, and Return on Invested Capital for the company is -48.26. Return on Equity for this stock declined to -53.65, with Return on Assets sitting at -28.79. When it comes to the capital structure of this company, Editas Medicine Inc. [EDIT] has a Total Debt to Total Equity ratio set at 11.08. Additionally, EDIT Total Debt to Total Capital is recorded at 9.98, with Total Debt to Total Assets ending up at 5.71. Long-Term Debt to Equity for the company is recorded at 8.87, with the Long-Term Debt to Total Capital now at 7.98.

Reflecting on the efficiency of the workforce at the company, Editas Medicine Inc. [EDIT] managed to generate an average of -$643,010 per employee. Receivables Turnover for the company is 91.66 with a Total Asset Turnover recorded at a value of 0.04.Editas Medicine Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.00 and a Current Ratio set at 9.00.

Earnings analysis for Editas Medicine Inc. [EDIT]

With the latest financial reports released by the company, Editas Medicine Inc. posted -0.32/share EPS, while the average EPS was predicted by analysts to be reported at -0.66/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 51.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EDIT.

Insider trade positions for Editas Medicine Inc. [EDIT]

There are presently around $1,847 million, or 81.50% of EDIT stock, in the hands of institutional investors. The top three institutional holders of EDIT stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 7,546,146, which is approximately 41.421% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 5,760,473 shares of the stock with an approximate value of $195.28 million in EDIT stocks shares; and SUMITOMO MITSUI TRUST HOLDINGS, INC., currently with $169.43 million in EDIT stock with ownership of nearly -2.151% of the company’s market capitalization.

Positions in Editas Medicine Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 136 institutional holders increased their position in Editas Medicine Inc. [NASDAQ:EDIT] by around 10,489,920 shares. Additionally, 68 investors decreased positions by around 1,696,954 shares, while 50 investors held positions by with 42,288,175 shares. The mentioned changes placed institutional holdings at 54,475,049 shares, according to the latest SEC report filing. EDIT stock had 56 new institutional investments in for a total of 2,877,570 shares, while 18 institutional investors sold positions of 517,030 shares during the same period.

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