In the last trading session, 2,117,005 Editas Medicine, Inc.(NASDAQ:EDIT) shares changed hands as the company’s beta touched 2.06. With the company’s per share price at $71.59 changed hands at $1.48 or 0.02% during last session, the market valuation stood at $4.46 Billion. EDIT’s last price was a discount, traded about -34.73% off its 52-week high of $96.45. The share price had its 52-week low at $14.01, which suggests the last value was 80.43% up since then. When we look at Editas Medicine, Inc.’s average trading volume, we note the 10-day average is 3.05 Million shares, with the 3-month average coming to 1.87 Million.

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Analysts gave the Editas Medicine, Inc. (EDIT) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2.6. If we narrow down to specifics, the data shows that none out of 12 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 4 recommended EDIT as a Hold, 6 felt it is a Buy and 1 rated the stock as Underweight. Editas Medicine, Inc.’s EPS for the current quarter is expected to be -$0.75.

Instantly EDIT was in green as seen at the end of in last trading. With action 2.11%, the performance over the past five days has been red. The jump to weekly highs of $92.59 on Monday, Dec 28 added 22.68% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.02%, with the 5-day performance at -0.14% in the red. However, in the 30-day time frame, Editas Medicine, Inc. (NASDAQ:EDIT) is 1.08% up. Looking at the short shares, we see there were 10.89 Million shares sold at short interest cover period of 5.82 days.

The consensus price target for the stock as assigned by Wall Street analysts is $46.33, meaning bulls need a downside of -35.28% from its current market value. According to analyst projections, EDIT’s forecast low is $14 with $69 as the target high. To hit the forecast high, the stock’s price needs a -3.62% upsurge from its current level, while the stock would need to tank -80.44% for it to hit the projected low.

Editas Medicine, Inc. (EDIT) estimates and forecasts

Data shows that the Editas Medicine, Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +133.34% over the past 6 months. But despite this, analysts have looked to lower expectations by downgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Editas Medicine, Inc. will drop -1.4%, while the growth in revenue is estimated to hit -15.9% for the next quarter. Year-over-year growth is forecast to reach 314.1% up from the last financial year.

Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $6.27 Million. 5 analysts are of the opinion that Editas Medicine, Inc.’s revenue for the quarter ending March 01, 2021 will be $5.18 Million. The company’s revenue for the corresponding quarters a year ago was $12.28 Million and $5.72 Million respectively. According to analysts, the company will likely register a drop in its current quarter sales, forecast at -49%. The estimates for the next quarter sales put growth at -9.5%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -46.8%. The 2021 estimates are for Editas Medicine, Inc. earnings to decrease by -14.6%, but the outlook for the next 5-year period is at 0% per year.

Editas Medicine, Inc. (NASDAQ:EDIT)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.37% of Editas Medicine, Inc. shares while 82.19% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 83.34%. There are 311 institutions holding the Editas Medicine, Inc. stock share, with ARK Investment Management, LLC the top institutional holder. As of Sep 29, 2020, the company held 17.12% of the shares, roughly 10.67 Million EDIT shares worth $299.41 Million.

Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 9.16% or 5.71 Million shares worth $160.17 Million as of Sep 29, 2020.

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Among Mutual Funds, the top two as of Oct 30, 2020 were ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF. With 7163334 shares estimated at $221.63 Million under it, the former controlled 11.49% of total outstanding shares. On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF held about 3.25% of the shares, roughly 2.03 Million shares worth around $62.7 Million.


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