Editas Medicine Inc. [EDIT] Is Currently 7.75 below its 200 Period Moving Avg: What Dose This Mean?

Editas Medicine Inc. [NASDAQ: EDIT] gained 7.75% or 2.38 points to close at $33.09 with a heavy trading volume of 1105045 shares. 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.

It opened the trading session at $30.97, the shares rose to $33.30 and dropped to $30.635, the range by which the price of stock traded the whole day. The daily chart for EDIT points out that the company has recorded 48.05% gains over the past six months. However, it is still -136.19% lower than its most recent low trading price.

If we look at the average trading volume of 877.04K shares, EDIT reached to a volume of 1105045 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 2.00, with the Price to Sales ratio for EDIT stock in the period of the last 12 months amounting to 58.66. The Price to Book ratio for the last quarter was 4.29, with the Price to Cash per share for the same quarter was set at 10.36.

Trading performance analysis for EDIT stock

Editas Medicine Inc. [EDIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.24. With this latest performance, EDIT shares gained by 8.85% in over the last four-week period, additionally plugging by 48.05% over the last 6 months – not to mention a rise of 69.78% 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 57.58, with the RSI for the last a single of trading hit 64.32, and the three-weeks RSI is set at 54.53 for Editas Medicine Inc. [EDIT]. The present Moving Average for the last 50 days of trading for this stock 32.60, while it was recorded at 30.55 for the last single week of trading, and 28.12 for the last 200 days.

Editas Medicine Inc. [EDIT]: A deeper dive into fundamental analysis

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.

Editas Medicine Inc. [EDIT]: An earnings per share (EPS) analysis

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.

An analysis of insider ownership at Editas Medicine Inc. [EDIT]

There are presently around $1,802 million, or 81.60% 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 $190.61 million in EDIT stocks shares; and SUMITOMO MITSUI TRUST HOLDINGS, INC., currently with $165.38 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 137 institutional holders increased their position in Editas Medicine Inc. [NASDAQ:EDIT] by around 10,489,325 shares. Additionally, 70 investors decreased positions by around 1,699,249 shares, while 49 investors held positions by with 42,272,302 shares. The mentioned changes placed institutional holdings at 54,460,876 shares, according to the latest SEC report filing. EDIT stock had 58 new institutional investments in for a total of 2,877,919 shares, while 20 institutional investors sold positions of 517,510 shares during the same period.

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