Editas Medicine, Inc. (NASDAQ:EDIT – Get Free Report) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 15,910,000 shares, a drop of 7.7% from the October 31st total of 17,240,000 shares. Based on an average daily trading volume, of 2,140,000 shares, the days-to-cover ratio is currently 7.4 days.
Editas Medicine Stock Performance
Shares of NASDAQ EDIT traded down $0.05 during mid-day trading on Monday, reaching $2.19. The company had a trading volume of 2,366,572 shares, compared to its average volume of 1,963,044. The stock has a market capitalization of $180.78 million, a PE ratio of -0.88 and a beta of 2.01. Editas Medicine has a twelve month low of $2.13 and a twelve month high of $11.69. The stock’s 50 day moving average is $3.04 and its 200-day moving average is $4.15.
Editas Medicine (NASDAQ:EDIT – Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.75). Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The company had revenue of $0.06 million during the quarter, compared to the consensus estimate of $3.93 million. During the same period last year, the business earned ($0.55) EPS. The business’s quarterly revenue was down 98.9% on a year-over-year basis. On average, sell-side analysts anticipate that Editas Medicine will post -2.63 EPS for the current year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on EDIT
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its holdings in Editas Medicine by 494.8% in the 3rd quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock worth $32,000 after acquiring an additional 7,758 shares during the period. Ballentine Partners LLC acquired a new position in shares of Editas Medicine in the 3rd quarter valued at $36,000. Arcadia Investment Management Corp MI bought a new position in Editas Medicine during the third quarter worth about $39,000. Koss Olinger Consulting LLC acquired a new stake in Editas Medicine during the second quarter valued at approximately $47,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Editas Medicine during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 71.90% of the company’s stock.
Editas Medicine Company Profile
Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.
Featured Articles
- Five stocks we like better than Editas Medicine
- Pros And Cons Of Monthly Dividend Stocks
- How to Master Trading Discipline: Overcome Emotional Challenges
- Earnings Per Share Calculator: How to Calculate EPS
- Trump Tax Reforms: 7 Stocks That Could Benefit in 2025
- The Most Important Warren Buffett Stock for Investors: His Own
- 3 Stocks Near 52-Week Lows: Why They Could Be Smart Buys Today
Receive News & Ratings for Editas Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine and related companies with MarketBeat.com's FREE daily email newsletter.