Editas Medicine Inc. [EDIT] moved up 3.02: Why It’s Important

Editas Medicine Inc. [NASDAQ: EDIT] price surged by 3.02 percent to reach at $0.29. The company report on December 6, 2022 that Editas Medicine Announces Positive Safety and Efficacy Data from the First Two Patients Treated in the RUBY Trial of EDIT-301 for the Treatment of Severe Sickle Cell Disease.

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EDIT-301 was well-tolerated and demonstrated a safety profile consistent with myeloablative conditioning with busulfan and autologous hematopoietic stem cell transplant.

Both patients treated with EDIT-301 successfully engrafted and are free of vaso-occlusive events during the follow-up period.

A sum of 3127844 shares traded at recent session while its average daily volume was at 1.66M shares. Editas Medicine Inc. shares reached a high of $10.03 and dropped to a low of $9.23 until finishing in the latest session at $9.90.

The one-year EDIT stock forecast points to a potential upside of 41.52. The average equity rating for EDIT stock is currently 2.80, 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 $16.93 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 2.80. 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.

Credit Suisse have made an estimate for Editas Medicine Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 06, 2022. While these analysts kept the previous recommendation, Oppenheimer dropped their target price from $28 to $12. The new note on the price target was released on November 18, 2022, representing the official price target for Editas Medicine Inc. stock. Previously, the target price had yet another drop from $25 to $13, while Credit Suisse kept a Neutral rating on EDIT stock.

The Average True Range (ATR) for Editas Medicine Inc. is set at 0.81, with the Price to Sales ratio for EDIT stock in the period of the last 12 months amounting to 26.10. The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 6.22.

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 -6.60. With this latest performance, EDIT shares dropped by -10.33% in over the last four-week period, additionally sinking by -23.08% over the last 6 months – not to mention a drop of -68.03% 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 40.36, with the RSI for the last a single of trading hit 39.89, and the three-weeks RSI is set at 41.18 for Editas Medicine Inc. [EDIT]. The present Moving Average for the last 50 days of trading for this stock 11.60, while it was recorded at 9.93 for the last single week of trading, and 14.16 for the last 200 days.

Insight into Editas Medicine Inc. Fundamentals:

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.

Editas Medicine Inc. [EDIT] Insider Position Details

There are presently around $480 million, or 73.30% 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 $66.58 million in EDIT stocks shares; and STATE STREET CORP, currently with $62.85 million in EDIT stock with ownership of nearly -19.431% of the company’s market capitalization.

115 institutional holders increased their position in Editas Medicine Inc. [NASDAQ:EDIT] by around 7,289,702 shares. Additionally, 106 investors decreased positions by around 6,447,379 shares, while 75 investors held positions by with 34,723,771 shares. The mentioned changes placed institutional holdings at 48,460,852 shares, according to the latest SEC report filing. EDIT stock had 43 new institutional investments in for a total of 1,828,126 shares, while 30 institutional investors sold positions of 1,669,543 shares during the same period.


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