EDIT Stock Summary and Trading Ideas (Editas Medicine | NASDAQ:EDIT)

Editas Medicine Inc is a clinical-stage genome editing company dedicated to developing potentially transformative genomic medicines to treat a broad range of serious diseases. The company focuses on developing a proprietary genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR)/ CRISPR-associated protein 9 (Cas9 technology). It has developed CRISPR/Cas9 technology which uses a protein-RNA (ribonucleic acid) complex composed of the Cas9 enzyme bound to a guide RNA molecule designed to recognize a DNA (deoxyribonucleic acid) sequence that requires repair. The company is engaged in developing and commercializing genome editing technology.

Editas Medicine trades on the NASDAQ stock market under the symbol EDIT.

As of April 24, 2024, EDIT stock price declined to $5.35 with 1,459,887 million shares trading.

EDIT has a beta of 2.24, meaning it tends to be more sensitive to market movements. EDIT has a correlation of 0.16 to the broad based SPY ETF.

EDIT has a market cap of $439.96 million. This is considered a Small Cap stock.

Last quarter Editas Medicine reported $60 million in Revenue and -$.23 earnings per share. This beat revenue expectation by $52 million and exceeded earnings estimates by $.31.

In the last 3 years, EDIT stock traded as high as $73.03 and as low as $5.28.

The top ETF exchange traded funds that EDIT belongs to (by Net Assets): XBI, VTI, VB, IWM, VXF.

EDIT has underperformed the market in the last year with a price return of -34.6% while the SPY ETF gained +24.2%. EDIT has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -35.9% and -23.7%, respectively, while the SPY returned +4.6% and -2.7%, respectively.

EDIT support price is $5.27 and resistance is $5.65 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that EDIT stock will trade within this expected range on the day.