Equities analysts forecast that Editas Medicine Inc (NASDAQ:EDIT) will announce $6.43 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Editas Medicine’s earnings. The highest sales estimate is $15.00 million and the lowest is $1.80 million. Editas Medicine posted sales of $6.28 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.4%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Editas Medicine will report full-year sales of $25.08 million for the current fiscal year, with estimates ranging from $15.00 million to $39.03 million. For the next financial year, analysts anticipate that the company will post sales of $33.36 million per share, with estimates ranging from $16.30 million to $58.10 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Monday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.15). Editas Medicine had a negative net margin of 623.35% and a negative return on equity of 61.27%. The firm had revenue of $7.37 million for the quarter, compared to analyst estimates of $7.01 million. During the same quarter last year, the business posted ($0.65) earnings per share. The firm’s revenue for the quarter was up 137.7% compared to the same quarter last year.
Shares of NASDAQ EDIT traded up $0.98 during mid-day trading on Friday, reaching $29.64. The company had a trading volume of 618,270 shares, compared to its average volume of 953,401. The company has a quick ratio of 11.71, a current ratio of 14.50 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -9.95 and a beta of 3.32. Editas Medicine has a 1-year low of $17.35 and a 1-year high of $45.02.
In other news, insider Vickesh Myer sold 14,000 shares of the firm’s stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $38.26, for a total value of $535,640.00. Following the completion of the sale, the insider now owns 4,300 shares of the company’s stock, valued at $164,518. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Katrine Bosley sold 8,333 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $29.55, for a total value of $246,240.15. Following the completion of the sale, the insider now directly owns 1,279,066 shares of the company’s stock, valued at approximately $37,796,400.30. The disclosure for this sale can be found here. Insiders sold a total of 82,999 shares of company stock worth $2,992,109 over the last 90 days. Insiders own 5.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Editas Medicine by 20.7% in the second quarter. BlackRock Inc. now owns 3,455,066 shares of the company’s stock worth $123,796,000 after buying an additional 591,442 shares during the period. ARK Investment Management LLC boosted its position in shares of Editas Medicine by 34.6% in the second quarter. ARK Investment Management LLC now owns 2,181,572 shares of the company’s stock worth $78,166,000 after buying an additional 561,364 shares during the period. Global Thematic Partners LLC boosted its position in shares of Editas Medicine by 7.0% in the second quarter. Global Thematic Partners LLC now owns 506,917 shares of the company’s stock worth $18,164,000 after buying an additional 32,968 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in shares of Editas Medicine by 13.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 448,148 shares of the company’s stock worth $16,057,000 after buying an additional 54,850 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Editas Medicine by 12.4% in the first quarter. Northern Trust Corp now owns 419,861 shares of the company’s stock worth $13,917,000 after buying an additional 46,354 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.
Editas Medicine Company Profile
Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.
Featured Article: Trading Strategy Methods for Individual Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Editas Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine and related companies with MarketBeat.com's FREE daily email newsletter.