Decline in EDIT’s short interest indicates Bullish sentiment


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Editas Medicine Inc. shares valued at $9,369 were sold by ROBERTSON MICHELLE on May 11. At $9.87 per share, ROBERTSON MICHELLE sold 949 shares. The insider’s holdings dropped to 106,610 shares worth approximately $0.97 million following the completion of this transaction.

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Also, Eaton Bruce sold 668 shares, netting a total of over 6,594 in proceeds. Following the sale of shares at $9.87 each, the insider now holds 76,779 shares.

Before that, Eaton Bruce had sold 135 shares from its account. In a trade valued at $1,284, the EVP, CBO AND CTO traded Editas Medicine Inc. shares for $9.51 each. Upon closing the transaction, the insider’s holdings decreased to 135 shares, worth approximately $0.7 million.

Analyzing EDIT Stock Performance

On Thursday, Editas Medicine Inc. [NASDAQ: EDIT] plunged -3.92% to $9.08. The stock’s lowest price that day was $8.92, but it reached a high of $9.43 in the same session. During the last five days, there has been a drop of approximately -3.61%. Over the course of the year, Editas Medicine Inc. shares have jumped approximately 2.37%. Shares of the company reached a 52-week high of $11.93 on 02/03/23 and a 52-week low of $6.33 on 04/12/23. A 50-day SMA is recorded $8.24, while a 200-day SMA reached $10.62. Nevertheless, trading volume fell to 1.52 million shares from 1.47 million shares the previous day.

Support And Resistance Levels for Editas Medicine Inc. (EDIT)

According to the 24-hour chart, there is a support level at 8.86, which, if violated, would cause prices to drop to 8.63. In the upper region, resistance lies at 9.37. The next price resistance is at 9.65. RSI (Relative Strength Index) is 50.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 91.06%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Editas Medicine Inc. subject to short interest?

Stocks of Editas Medicine Inc. saw a sharp steep in short interest on Apr 27, 2023 dropping by -0.79 million shares to 18.86 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 19.65 million shares. A decline of -4.19% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 9.48 of the overall float, the days-to-cover ratio (short ratio) decline to 9.48.

Which companies own the most shares of Editas Medicine Inc. (EDIT)?

According to SSgA Funds Management, Inc. filings, the company currently owns 8,164,191 shares, which is about 11.84% of the total EDIT shares outstanding. The investor’s shares have plunged by -1,058,045 from its previous 13-F filing of 9222236.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $57,652,930. BlackRock Fund Advisors reduced a -0.27% interest valued at $46.26 million while Woodline Partners LP purchased a 567,872 stake. A total of -38,257 shares of Editas Medicine Inc. were bought by Dimensional Fund Advisors LP during the quarter, and 71,571 were bought by Geode Capital Management LLC. In its current portfolio, Millennium Management LLC holds 1,283,937 shares valued at $10.48 million.


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