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Monday, June 5, 2023

Editas Medicine Inc. (NASDAQ: EDIT) May Be Attracting Institutional Investments

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Editas Medicine Inc. (EDIT) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.11, or -1.17%, to $9.31. The Editas Medicine Inc. has recorded 14,070 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that Editas Medicine Reports Inducement Grant to New Chief Financial Officer.

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Stocks Info

EDIT belongs to the Healthcare sector of the NASDAQ while operating in the Biotechnology industry. At the end of the last regular session, the stock closed at $9.42 and fluctuated between $9.56 as its day high and $9.14 as its day low. The current market capitalization of Editas Medicine Inc. is $648.57M. A total of 1.54 million shares were traded on the day, compared to an average of 1.85M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, EDIT has seen 4 BUY and 2 SELL insider trades, representing the acquisition of 116,200 and the disposition of 285 shares. Over the last 12 months, there were 6 BUYs and 16 SELLs from insiders. Insiders purchased 261,227 shares during that period but sold 21,732.

In the most recent transaction, ROBERTSON MICHELLE sold 949 shares of EDIT for 9.87 per share on May 11. After the transaction, the EVP, CHIEF FINANCIAL OFFICER now owns 106,610 company shares. In a previous transaction on May 11, Eaton Bruce sold 668 shares at 9.87 per share. EDIT shares that EVP, CBO AND CTO owns now total 76,779.

Among the insiders who sold shares, Eaton Bruce disposed of 135 shares on May 09 at a per-share price of $9.51. This resulted in the EVP, CBO AND CTO holding 77,447 shares of EDIT after the transaction. In another insider transaction, ROBERTSON MICHELLE sold 184 shares at $8.89 per share on Mar 03. Company shares held by the EVP, CHIEF FINANCIAL OFFICER now total 107,559.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for EDIT in the last 3 months, the mean price target is $12.71 with high estimates of $30.00 and low estimates of $7.00. In terms of 52-week highs and lows, EDIT has a high of $19.97 and a low of $6.33.

As of this writing, EDIT has an earnings estimate of -$0.76 per share for the current quarter. EPS was calculated based on a consensus of 16 estimates, with a high estimate of -$0.56 per share and a lower estimate of -$0.93. The company reported an EPS of -$0.88 in the last quarter, which was -10.00% lower than expectations of -$0.8.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. EDIT’s latest balance sheet shows that the firm has $619.91M in Cash & Short Term Investments as of fiscal 2021. There were $26.38M in debt and $46.88M in liabilities at the time. Its Book Value Per Share was $4.61, while its Total Shareholder’s Equity was $553.64M.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for EDIT is Buy with a score of 3.41.

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