As of Monday, Editas Medicine Inc.’s (NASDAQ:EDIT) stock closed at $15.84, down from $15.91 the previous day. While Editas Medicine Inc. has underperformed by -0.44%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, EDIT fell by -62.16%, with highs and lows ranging from $73.03 to $9.59, whereas the simple moving average fell by -24.47% in the last 200 days.
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On October 19, 2021, SVB Leerink started tracking Editas Medicine Inc. (NASDAQ: EDIT) recommending Mkt Perform. A report published by Stifel on September 24, 2021, Initiated its previous ‘Hold’ rating for EDIT. Oppenheimer also Upgraded EDIT shares as ‘Outperform’, setting a target price of $80 on the company’s shares in a report dated September 10, 2021. Truist August 09, 2021d the rating to Buy on August 09, 2021, and set its price target from $45 to $80. Evercore ISI August 05, 2021d its ‘Underperform’ rating to ‘Outperform’ for EDIT, as published in its report on August 05, 2021. Robert W. Baird’s report from June 04, 2021 suggests a price prediction of $44 for EDIT shares, giving the stock a ‘Outperform’ rating. RBC Capital Mkts also rated the stock as ‘Sector Perform’.
Analysis of Editas Medicine Inc. (EDIT)
Further, the quarter-over-quarter increase in sales is 4.60%, showing a positive trend in the upcoming months.
One of the most important indicators of Editas Medicine Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -32.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 13.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and EDIT is recording 1.75M average volume. On a monthly basis, the volatility of the stock is set at 8.99%, whereas on a weekly basis, it is put at 7.04%, with a loss of -3.12% over the past seven days. Furthermore, long-term investors anticipate a median target price of $32.23, showing growth from the present price of $15.84, which can serve as yet another indication of whether EDIT is worth investing in or should be passed over.
How Do You Analyze Editas Medicine Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 70.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in EDIT shares?
The recent increase in stakes in EDIT appears to be a result of several institutional investors and hedge funds increasing their positions. SSgA Funds Management, Inc.’s position in EDIT has increased by 43.79% in the first quarter. The company now owns 7,879,890 shares of the stock, with a value of $93.22 million, following the purchase of 2,399,852 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in EDIT during the first quarter, upping its stake by 3.18%. During the last quarter, the company picked up 206,082 additional shares for a total stake of worth $79.16 million, bringing number of shares owned by the company to 6,691,368.
During the first quarter, BlackRock Fund Advisors added a 335,435 position in EDIT. JPMorgan Asset Management sold an additional -0.23 million shares in the last quarter, decreasing its holdings by -16.21%, now holding 1.17 million shares worth $13.89 million. At the end of the first quarter, Geode Capital Management LLC decreased its EDIT holdings by -6.89% and now holds 1.14 million EDIT shares valued at $13.44 million with the lessened 84025.0 shares during the period. EDIT shares are owned by institutional investors to the tune of 70.10% at present.