Editas Medicine Inc. [NASDAQ: EDIT] slipped around -1.24 points on Thursday, while shares priced at $11.01 at the close of the session, down -10.12%. The company report on November 17, 2022 that Editas Medicine Announces Clinical Data Demonstrating Proof of Concept of EDIT-101 from Phase 1/2 BRILLIANCE Trial.
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EDIT-101 demonstrates a favorable safety profile across all dose cohorts.
Preliminary efficacy signals of consistent improvement in BCVA plus additional efficacy endpoints seen in homozygous patients.
Editas Medicine Inc. stock is now -58.53% down from its year-to-date (YTD) trading value. EDIT Stock saw the intraday high of $11.02 and lowest of $9.61 per share. The company’s 52-week high price is 37.50, which means current price is +14.81% above from all time high which was touched on 01/03/22.
Compared to the average trading volume of 1.50M shares, EDIT reached a trading volume of 7262287 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 $26.57 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.
BofA Securities have made an estimate for Editas Medicine Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 29, 2022. While these analysts kept the previous recommendation, SVB Leerink raised their target price to Mkt Perform. The new note on the price target was released on October 19, 2021, representing the official price target for Editas Medicine Inc. stock. Previously, the target price had yet another raise to $65, while Stifel analysts kept a Hold rating on EDIT stock. On September 10, 2021, analysts increased their price target for EDIT shares from 42 to 80.
The Average True Range (ATR) for Editas Medicine Inc. is set at 1.04, with the Price to Sales ratio for EDIT stock in the period of the last 12 months amounting to 27.76. The Price to Book ratio for the last quarter was 1.83, with the Price to Cash per share for the same quarter was set at 6.50.
How has EDIT stock performed recently?
Editas Medicine Inc. [EDIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.21. With this latest performance, EDIT shares dropped by -4.51% in over the last four-week period, additionally plugging by 0.64% over the last 6 months – not to mention a drop of -70.08% 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 41.68, with the RSI for the last a single of trading hit 38.89, and the three-weeks RSI is set at 42.87 for Editas Medicine Inc. [EDIT]. The present Moving Average for the last 50 days of trading for this stock 12.67, while it was recorded at 12.49 for the last single week of trading, and 14.60 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 -756.13 and a Gross Margin at +80.22. Editas Medicine Inc.’s Net Margin is presently recorded at -753.61.
Return on Equity for this stock declined to -40.65, with Return on Assets sitting at -30.80.
Editas Medicine Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.10 and a Current Ratio set at 10.10.
Insider trade positions for Editas Medicine Inc. [EDIT]
There are presently around $533 million, or 70.40% of EDIT stock, in the hands of institutional investors. The top three institutional holders of EDIT stocks are: BLACKROCK INC. with ownership of 6,982,775, which is approximately 3.845% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 6,725,340 shares of the stock with an approximate value of $74.05 million in EDIT stocks shares; and STATE STREET CORP, currently with $69.9 million in EDIT stock with ownership of nearly -19.431% of the company’s market capitalization.
Positions in Editas Medicine Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 114 institutional holders increased their position in Editas Medicine Inc. [NASDAQ:EDIT] by around 7,231,511 shares. Additionally, 104 investors decreased positions by around 6,445,939 shares, while 76 investors held positions by with 34,726,584 shares. The mentioned changes placed institutional holdings at 48,404,034 shares, according to the latest SEC report filing. EDIT stock had 41 new institutional investments in for a total of 1,769,868 shares, while 29 institutional investors sold positions of 1,669,393 shares during the same period.