Editas Medicine Inc. [NASDAQ:EDIT] has active tape with a current price of $31.04 against an analyst price target of 41.88.
For the year, the stock is trading 4.83% and the five-day change stands at 10.62%. As a point of reference, the S&P 500 is trading 1.71% YTD.
Other data to note about the company today is the Recommendation Trend that is leaning toward Editas Medicine Inc. [EDIT] as Moderate Buy.
The Price is right
Holding a Market Cap of $2.01 billion, Editas Medicine Inc. has seen a trading range over the last year of $14.01-$39.96.
For the last five days, EDIT is up from its last closing price. The average shares trading hands each day is 869.82K.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for EDIT. When we apply the Elder Force Index to Editas Medicine Inc., we are seeing an Elder Force Indicator number of 3900003.84.
In the last quarter, EDIT made a profit of 42.09 million. Editas Medicine Inc. also saw quarter revenue growth year over year of -35.71%.
Looking at popular technical indicators, the company’s 5-day moving average is 28.84 compared to the 50-day moving average of 15.64%. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. EDIT currently holds a 9-day RSI of 55.65%, while 100-day RSI stands at 51.09%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. EDIT’s 9-day MACD is 0.78 and the company’s 100-day MACD stands at -1.58.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 2.41% by insiders and 75.78% by institutions. Regarding institutional holdings, ARK Investment Management, LLC owns 12.12%, while the second top holder, Vanguard Group, Inc. (The), currently owns 9.25%.
Over the last six months, insiders have sold 1,976 with the most recent transaction from Collins Cynthia, CEO, with a sell at price 36.66 per share.
Overall, the recommended rating for EDIT is Moderate Buy. Currently, the company has 8 analysts watching the stock, and the average quarterly earnings estimate is -0.61. Quarterly revenue estimates are averaging 6.36M with the high estimate reaching 11M and the low at 4M.
To review, the current 1-year target estimate is sitting at 41.88, while the current price 31.04. Based on this, we expect the stock to rise considering the aforementioned fundamentals.