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A company insider recently sold 12,191 shares of Editas Medicine Inc [EDIT]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Editas Medicine Inc shares valued at $66,997 were sold by O’Neill Gilmore Neil on Jun 04 ’24. At $5.50 per share, O’Neill Gilmore Neil sold 12,191 shares. The insider’s holdings dropped to 315,279 shares worth approximately $1.46 million following the completion of this transaction.

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Also, Mei Baisong sold 511 shares, netting a total of over 2,808 in proceeds. Following the sale of shares at $5.50 each, the insider now holds 141,032 shares.

Before that, Lucera Erick had sold 22,337 shares from its account. In a trade valued at $125,404, the EVP, CHIEF FINANCIAL OFFICER traded Editas Medicine Inc shares for $5.61 each. Upon closing the transaction, the insider’s holdings decreased to 22,337 shares, worth approximately $0.54 million.

As published in a research note from Morgan Stanley on May 09, 2024, Editas Medicine Inc [EDIT] has been rated up from an Underweight to an Equal-weight and the price target has been revised to $7. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late October. As of October 18, 2023, JP Morgan has increased its “an Underweight” rating to a “Neutral” for EDIT. Earlier on October 17, 2023, Cantor Fitzgerald downgraded its rating. Their new recommendation was “a Neutral” for EDIT stock which previously was a “an Overweight”.

Analyzing EDIT Stock Performance

During the last five days, there has been a drop of approximately -3.53%. Over the course of the year, Editas Medicine Inc shares have dropped approximately -54.20%. Shares of the company reached a 52-week high of $11.58 on 02/28/24 and a 52-week low of $4.45 on 07/02/24. A 50-day SMA is recorded $5.35, while a 200-day SMA reached $7.52. Nevertheless, trading volume fell to 0.99 million shares from 1.55 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 4.57, which, if violated, would cause prices to drop to 4.47. In the upper region, resistance lies at 4.75. The next price resistance is at 4.83. RSI (Relative Strength Index) is 37.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.32, which suggests the price will decrease in the coming days. Percent R is at 87.04%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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