The 36-month beta value for EDIT is also noteworthy at 2.01. There are mixed opinions on the stock, with 4 analysts rating it as a “buy,” 0 rating it as “overweight,” 4 rating it as “hold,” and 0 rating it as “sell.”
The public float for EDIT is 81.64M, and at present, short sellers hold a 19.76% of that float. The average trading volume of EDIT on August 21, 2024 was 2.01M shares.
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EDIT) stock’s latest price update
Editas Medicine Inc (NASDAQ: EDIT) has experienced a rise in its stock price by 0.63 compared to its previous closing price of 3.96. However, the company has seen a gain of 6.55% in its stock price over the last five trading days. zacks.com reported 2024-08-08 that Editas (EDIT) reports lower-than-expected second-quarter 2024 results as both earnings and revenues miss estimates. The stock falls 12.2%.
EDIT’s Market Performance
Editas Medicine Inc (EDIT) has seen a 6.55% rise in stock performance for the week, with a -28.97% decline in the past month and a -27.68% plunge in the past quarter. The volatility ratio for the week is 6.17%, and the volatility levels for the past 30 days are at 7.39% for EDIT. The simple moving average for the past 20 days is -13.68% for EDIT’s stock, with a -44.40% simple moving average for the past 200 days.
Analysts’ Opinion of EDIT
Many brokerage firms have already submitted their reports for EDIT stocks, with BofA Securities repeating the rating for EDIT by listing it as a “Buy.” The predicted price for EDIT in the upcoming period, according to BofA Securities is $15 based on the research report published on August 08, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see EDIT reach a price target of $7. The rating they have provided for EDIT stocks is “Equal-Weight” according to the report published on May 09th, 2024.
Citigroup gave a rating of “Buy” to EDIT, setting the target price at $11 in the report published on October 24th of the previous year.
EDIT Trading at -19.28% 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 -65.91% of loss for the given period.
Volatility was left at 7.39%, however, over the last 30 days, the volatility rate increased by 6.17%, as shares sank -25.56% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -25.28% lower at present.
During the last 5 trading sessions, EDIT rose by +6.28%, which changed the moving average for the period of 200-days by -43.46% in comparison to the 20-day moving average, which settled at $4.55. In addition, Editas Medicine Inc saw -60.66% 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 Burkly Linda, who sale 11,886 shares at the price of $5.42 back on Jul 25 ’24. After this action, Burkly Linda now owns 73,136 shares of Editas Medicine Inc, valued at $64,370 using the latest closing price.
Mei Baisong, the EVP, CHIEF MEDICAL OFFICER of Editas Medicine Inc, sale 6,619 shares at $5.21 during a trade that took place back on Jul 19 ’24, which means that Mei Baisong is holding 134,413 shares at $34,456 based on the most recent closing price.
Stock Fundamentals for EDIT
Current profitability levels for the company are sitting at:
- -3.1 for the present operating margin
- 0.91 for the gross margin
The net margin for Editas Medicine Inc stands at -2.89. The total capital return value is set at -0.67. Equity return is now at value -61.23, with -41.75 for asset returns.
Based on Editas Medicine Inc (EDIT), the company’s capital structure generated 0.14 points at debt to capital in total, while cash flow to debt ratio is standing at -4.25. The debt to equity ratio resting at 0.17. The interest coverage ratio of the stock is -59.92.
Currently, EBITDA for the company is -163.12 million with net debt to EBITDA at 0.13. When we switch over and look at the enterprise to sales, we see a ratio of 4.54. The receivables turnover for the company is 274.73for trailing twelve months and the total asset turnover is 0.17. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.85.
Conclusion
In summary, Editas Medicine Inc (EDIT) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing 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.
