EDIT (Editas Medicine Inc.) may reap gains as insiders became active recently

Editas Medicine Inc.’s filing revealed that its EVP, CHIEF BUSINESS OFFICER Eaton Bruce unloaded Company’s shares for reported $5449.0 on Aug 09. In the deal valued at $18.60 per share,293 shares were sold. As a result of this transaction, Eaton Bruce now holds 65,128 shares worth roughly $ 1.13 million.

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Then, Shearman Mark S sold 5,145 shares, generating $51,745 in total proceeds. Upon selling the shares at $10.06, the EVP, CHIEF SCIENTIFIC OFFICER now owns 68,349 shares.

Before that, Eaton Bruce sold 1,123 shares. Editas Medicine Inc. shares valued at $12,956 were divested by the EVP, CHIEF BUSINESS OFFICER at a price of $11.54 per share. As a result of the transaction, Eaton Bruce now holds 65,421 shares, worth roughly $1.13 million.

SVB Leerink initiated its Editas Medicine Inc. [EDIT] rating to a Mkt perform in a research note published on Tuesday, October 19, 2021; the price target was $41. PT values the company’s stock at a premium of 57.71 to its Tuesday closing price. A number of analysts have revised their coverage, including Stifel’s analysts, who began to cover the stock in late September with a ‘”a Hold”‘ rating. Oppenheimer also remained covering EDIT and has increased its forecast on September 10, 2021 with a “an Outperform” recommendation from previously “Perform” rating. Truist revised its rating on August 09, 2021. It rated EDIT as “a Buy” which previously was an “a Hold”.

Price Performance Review of EDIT

On Tuesday, Editas Medicine Inc. [NASDAQ:EDIT] saw its stock fall -6.07% to $17.34. On the same session, the stock had its day’s lowest price of $16.92, but rose to a high of $18.35. Over the last five days, the stock has lost -3.61%. Editas Medicine Inc. shares have fallen nearly -34.69% since the year began. Nevertheless, the stocks have fallen -71.10% over the past one year. While a 52-week high of $73.03 was reached on 01/03/22, a 52-week low of $9.59 was recorded on 06/14/22. SMA at 50 days reached $14.82, while 200 days put it at $19.77. A total of 1.94 million shares were traded, compared to the trading of 1.49 million shares in the previous session.

Levels Of Support And Resistance For EDIT Stock

The 24-hour chart illustrates a support level at 16.72, which if violated will result in even more drops to 16.11. On the upside, there is a resistance level at 18.15. A further resistance level may holdings at 18.97. The Relative Strength Index (RSI) on the 14-day chart is 52.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.32, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 59.37%. Stochastics %K at 59.82% indicates the stock is a holding.

How much short interest is there in Editas Medicine Inc.?

A steep rise in short interest was recorded in Editas Medicine Inc. stocks on Jul 14, 2022, growing by 1.76 million shares to a total of 16.38 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 14.62 million shares. There was a rise of 10.74%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 26.77% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.93.

Editas Medicine Inc. [EDIT] – Who Are The Largest Shareholders?

In filings from SSgA Funds Management, Inc., it is revealed that the company now owns 7,879,890 shares, or roughly 11.48% of the outstanding EDIT shares. In other words, the investor’s shares have risen by 2,399,852 from its previous 13-F filing of 5480038.0. Additionally, The Vanguard Group, Inc. decreased -2.50% of its stake after which the total value it holdings stand at $103,801,263, while BlackRock Fund Advisors added 6.40% of its stake to hold $85.14 million in the firm. Over the last quarter, Geode Capital Management LLC purchased 90,284 shares of Editas Medicine Inc., while JPMorgan Asset Management bought -36,504 shares. At present, Capital Research & Management Co is holding 1,100,000 shares valued at $17.5 million. Credit Suisse Asset Management owned 962,004 shares of the company at the time of its most recent 13F filing, worth $15.31 million.

According to FactSet, Editas Medicine Inc.’s share price will average $30.86 in the next year, based on opinions of analysts polled by the firm. This is up nearly 48.97 percent from its previous closing price of $18.46. Analysts expect Editas Medicine Inc. stock to reach the higher price of $80.00, while the lowest price estimate is $8.00. However, 17 analysts have rated EDIT stock as a Hold in their predictions for 2022.


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