Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Editas Medicine Inc shares valued at $732,884 were sold by O’Neill Gilmore Neil on Mar 05 ’24. At $9.42 per share, O’Neill Gilmore Neil sold 77,824 shares. The insider’s holdings dropped to 327,470 shares worth approximately $2.44 million following the completion of this transaction.
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Also, Mei Baisong sold 20,327 shares, netting a total of over 191,425 in proceeds. Following the sale of shares at $9.42 each, the insider now holds 141,543 shares.
Before that, Eaton Bruce had sold 103 shares from its account. In a trade valued at $1,122, the EVP, CBO AND CTO traded Editas Medicine Inc shares for $10.90 each. Upon closing the transaction, the insider’s holdings decreased to 103 shares, worth approximately $0.56 million.
As published in a research note from Citigroup on October 24, 2023, Editas Medicine Inc [EDIT] has been rated up from a Neutral to a Buy and the price target has been revised to $11. Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid October. As of October 17, 2023, Cantor Fitzgerald has decreased its “an Overweight” rating to a “Neutral” for EDIT. Earlier on September 29, 2023, Stifel upgraded its rating. Their new recommendation was “a Buy” for EDIT stock which previously was a “a Hold”.
Analyzing EDIT Stock Performance
During the last five days, there has been a drop of approximately -6.06%. Over the course of the year, Editas Medicine Inc shares have dropped approximately -26.55%. Shares of the company reached a 52-week high of $11.58 on 02/28/24 and a 52-week low of $6.88 on 02/02/24. A 50-day SMA is recorded $8.12, while a 200-day SMA reached $8.58. Nevertheless, trading volume fell to 1.28 million shares from 1.17 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 7.24, which, if violated, would cause prices to drop to 7.04. In the upper region, resistance lies at 7.59. The next price resistance is at 7.73. RSI (Relative Strength Index) is 40.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.68, which suggests the price will decrease in the coming days. Percent R is at 89.44%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Editas Medicine Inc subject to short interest?
Stocks of Editas Medicine Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 1.31 million shares to 13.52 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 12.21 million shares. A jump of 9.69% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.88 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.88.
