Editas Medicine Inc (EDIT) Shares Decline Despite Market Challenges

Editas Medicine Inc (NASDAQ: EDIT)’s stock price has decreased by -5.63 compared to its previous closing price of 7.28. However, the company has seen a -6.66% decrease in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-29 that Editas (EDIT) reported earnings 30 days ago. What’s next for the stock?

Is It Worth Investing in Editas Medicine Inc (NASDAQ: EDIT) Right Now?

EDIT has 36-month beta value of 2.02. Analysts have mixed views on the stock, with 4 analysts rating it as a “buy,” 0 as “overweight,” 4 as “hold,” and 0 as “sell.”

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The public float for EDIT is 80.82M, and currently, short sellers hold a 17.23% ratio of that float. The average trading volume of EDIT on April 03, 2024 was 1.84M shares.

EDIT’s Market Performance

EDIT’s stock has seen a -6.66% decrease for the week, with a -34.76% drop in the past month and a -32.18% fall in the past quarter. The volatility ratio for the week is 3.98%, and the volatility levels for the past 30 days are at 5.73% for Editas Medicine Inc The simple moving average for the past 20 days is -16.24% for EDIT’s stock, with a -19.64% simple moving average for the past 200 days.

Analysts’ Opinion of EDIT

Many brokerage firms have already submitted their reports for EDIT stocks, with Citigroup repeating the rating for EDIT by listing it as a “Buy.” The predicted price for EDIT in the upcoming period, according to Citigroup is $11 based on the research report published on October 24, 2023 of the previous year 2023.

JP Morgan, on the other hand, stated in their research note that they expect to see EDIT reach a price target of $8. The rating they have provided for EDIT stocks is “Neutral” according to the report published on October 18th, 2023.

EDIT Trading at -15.04% from the 50-Day Moving Average

After a stumble in the market that brought EDIT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -42.32% of loss for the given period.

Volatility was left at 5.73%, however, over the last 30 days, the volatility rate increased by 3.98%, as shares sank -30.75% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -15.08% lower at present.

During the last 5 trading sessions, EDIT fell by -6.66%, which changed the moving average for the period of 200-days by -38.05% in comparison to the 20-day moving average, which settled at $8.05. In addition, Editas Medicine Inc saw -32.18% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at EDIT starting from O’Neill Gilmore Neil, who sale 77,824 shares at the price of $9.42 back on Mar 05 ’24. After this action, O’Neill Gilmore Neil now owns 327,470 shares of Editas Medicine Inc, valued at $732,884 using the latest closing price.

Mei Baisong, the SVP, CHIEF MEDICAL OFFICER of Editas Medicine Inc, sale 20,327 shares at $9.42 during a trade that took place back on Mar 04 ’24, which means that Mei Baisong is holding 141,543 shares at $191,425 based on the most recent closing price.

Stock Fundamentals for EDIT

Current profitability levels for the company are sitting at:

  • -2.1 for the present operating margin
  • 0.92 for the gross margin

The net margin for Editas Medicine Inc stands at -1.92. The total capital return value is set at -0.38. Equity return is now at value -43.17, with -30.24 for asset returns.

Based on Editas Medicine Inc (EDIT), the company’s capital structure generated 0.09 points at debt to capital in total, while cash flow to debt ratio is standing at -3.62. The debt to equity ratio resting at 0.1. The interest coverage ratio of the stock is 47.29.

Currently, EBITDA for the company is -163.12 million with net debt to EBITDA at 0.54. When we switch over and look at the enterprise to sales, we see a ratio of 6.08. The receivables turnover for the company is 7.67for trailing twelve months and the total asset turnover is 0.16. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.39.

Conclusion

To put it simply, Editas Medicine Inc (EDIT) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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