At the time of writing, Editas Medicine Inc [EDIT] stock is trading at $8.86, up 9.93%. An important factor to consider is whether the stock is rising or falling in short-term value. The EDIT shares have gain 11.45% over the last week, with a monthly amount glided 21.54%, and seem to be holding up well over a long-time horizon.
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On 21, February 2024, Editas Medicine Announces Fourth Quarter and Full Year 2023 Results Conference Call and Upcoming Investor Events. In a post published today on Yahoo Finance, Editas Medicine, Inc. (Nasdaq: EDIT), a clinical-stage genome editing company, today announced that it will host a conference call and webcast on Wednesday, February 28, 2024, at 8:00 a.m. ET to discuss results for the fourth quarter and full year 2023 and to provide a corporate update.
From an analyst’s perspective:
Editas Medicine Inc [NASDAQ: EDIT] stock has seen the most recent analyst activity on October 24, 2023, when Citigroup upgraded its rating to a Buy but kept the price target unchanged to $11 for it. Previously, JP Morgan upgraded its rating to Neutral on October 18, 2023, and kept the price target unchanged to $8. On October 17, 2023, downgrade downgraded it’s rating to Neutral. Stifel upgraded its rating to a Buy and increased its price target to $17 on September 29, 2023. Raymond James upgraded its rating to a Outperform but $17 remained the price target by the analyst firm on June 12, 2023. Cantor Fitzgerald started tracking with a Overweight rating for this stock on February 01, 2023, and assigned it a price target of $15. In a note dated December 13, 2022, Citigroup initiated an Neutral rating and provided a target price of $11 on this stock.
For the past year, the stock price of Editas Medicine Inc fluctuated between $6.08 and $11.91. Currently, Wall Street analysts expect the stock to reach $21 within the next 12 months. Editas Medicine Inc [NASDAQ: EDIT] shares were valued at $8.86 at the most recent close of the market. An investor can expect a potential return of 137.02% based on the average EDIT price forecast.
Analyzing the EDIT fundamentals
According to Editas Medicine Inc [NASDAQ:EDIT], the company’s sales were 24.61M for trailing twelve months, which represents an 12604.76% jump. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 8.33 points at the first support level, and at 7.81 for the second support level. However, for the 1st resistance point, the stock is sitting at 9.20, and for the 2nd resistance point, it is at 9.54.
Editas Medicine Inc [EDIT] reported earnings per share of -$0.55 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.57/share, meaning a difference of $0.02 and a surprise factor of 3.50%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were -$0.56 per share as compared to estimates of -$0.76 per share, a difference of $0.2 representing a surprise of 26.30%.
Ratios To Look Out For
It is important to note that Editas Medicine Inc [NASDAQ:EDIT] has a current ratio of 6.12. On the other hand, the Quick Ratio is 6.12, and the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 29.40, the price to book ratio is 2.01.
Transactions by insiders
Recent insider trading involved Eaton Bruce, EVP, CBO AND CTO, that happened on Dec 05 when 103.0 shares were sold. EVP, CBO AND CTO, Eaton Bruce completed a deal on Nov 14 to sell 695.0 shares. Meanwhile, EVP, CBO AND CTO Eaton Bruce sold 139.0 shares on Nov 07.
