Saturday, March 6, 2021

Editas Medicine Inc. [EDIT] fell -9.01% so far this year. What now?

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Editas Medicine Inc. [NASDAQ: EDIT] price plunged by -11.11 percent to reach at -$7.97. The company report on January 21, 2021 that Editas Medicine Announces Pricing of Offering of Common Stock.

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Editas Medicine, Inc. (Nasdaq: EDIT), a leading gene editing company, announced the pricing of an underwritten offering of 3,500,000 shares of its common stock at a public offering price of $66.00 per share, before deducting underwriter discounts and commissions and estimated offering expenses. Gross proceeds from the offering are expected to be approximately $231.0 million. Editas Medicine has granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of common stock on the same terms and conditions. All of the shares in the offering are to be sold by Editas Medicine. The offering is expected to close on or about January 25, 2021, subject to customary closing conditions.

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J.P. Morgan and Morgan Stanley are acting as joint book-running managers for the offering. Cowen and Credit Suisse are acting as book-runners.

A sum of 8284582 shares traded at recent session while its average daily volume was at 2.26M shares. Editas Medicine Inc. shares reached a high of $70.00 and dropped to a low of $62.50 until finishing in the latest session at $63.79.

The one-year EDIT stock forecast points to a potential downside of -36.45. The average equity rating for EDIT stock is currently 2.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $46.75 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 2.70. 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.

Morgan Stanley have made an estimate for Editas Medicine Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 19, 2021. The new note on the price target was released on January 07, 2021, representing the official price target for Editas Medicine Inc. stock. Previously, the target price had yet another raise to $69, while Wells Fargo analysts kept a Overweight rating on EDIT stock.

The Average True Range (ATR) for Editas Medicine Inc. is set at 8.55, with the Price to Sales ratio for EDIT stock in the period of the last 12 months amounting to 43.53. The Price to Book ratio for the last quarter was 8.98, with the Price to Cash per share for the same quarter was set at 7.92.

EDIT Stock Performance Analysis:

Editas Medicine Inc. [EDIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.97. With this latest performance, EDIT shares dropped by -0.96% in over the last four-week period, additionally plugging by 111.23% over the last 6 months – not to mention a rise of 112.35% 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 44.11, with the RSI for the last a single of trading hit 35.23, and the three-weeks RSI is set at 49.24 for Editas Medicine Inc. [EDIT]. The present Moving Average for the last 50 days of trading for this stock 55.56, while it was recorded at 71.94 for the last single week of trading, and 36.37 for the last 200 days.

Insight into Editas Medicine Inc. 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 9.20 and a Current Ratio set at 9.20.


With the latest financial reports released by the company, Editas Medicine Inc. posted -0.74/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -640.00%. 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.

Editas Medicine Inc. [EDIT] Insider Position Details

There are presently around $3,483 million, or 81.80% 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 10,670,424, which is approximately 41.402% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 5,708,036 shares of the stock with an approximate value of $364.12 million in EDIT stocks shares; and BLACKROCK INC., currently with $350.74 million in EDIT stock with ownership of nearly 10.237% of the company’s market capitalization.

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Positions in Editas Medicine Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 123 institutional holders increased their position in Editas Medicine Inc. [NASDAQ:EDIT] by around 5,860,558 shares. Additionally, 98 investors decreased positions by around 5,404,320 shares, while 56 investors held positions by with 43,329,399 shares. The mentioned changes placed institutional holdings at 54,594,277 shares, according to the latest SEC report filing. EDIT stock had 41 new institutional investments in for a total of 553,171 shares, while 41 institutional investors sold positions of 3,747,842 shares during the same period.

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