Equities analysts expect Editas Medicine Inc (NASDAQ:EDIT) to announce sales of $3.75 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Editas Medicine’s earnings. The highest sales estimate is $7.00 million and the lowest is $1.80 million. Editas Medicine posted sales of $3.67 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The company is scheduled to issue its next earnings results on Tuesday, March 5th.
On average, analysts expect that Editas Medicine will report full-year sales of $25.13 million for the current financial year, with estimates ranging from $15.00 million to $39.03 million. For the next fiscal year, analysts expect that the business will post sales of $32.29 million, with estimates ranging from $16.30 million to $58.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Wednesday, November 7th. The company reported ($0.32) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.40. The company had revenue of $14.52 million for the quarter, compared to analyst estimates of $9.83 million. Editas Medicine had a negative net margin of 410.68% and a negative return on equity of 52.88%. Editas Medicine’s revenue for the quarter was up 131.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.64) EPS.
In related news, CEO Katrine Bosley sold 12,000 shares of Editas Medicine stock in a transaction on Monday, August 20th. The shares were sold at an average price of $30.17, for a total transaction of $362,040.00. Following the sale, the chief executive officer now owns 1,270,399 shares of the company’s stock, valued at approximately $38,327,937.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vickesh Myer sold 3,000 shares of Editas Medicine stock in a transaction on Friday, August 17th. The stock was sold at an average price of $29.65, for a total transaction of $88,950.00. Following the sale, the chief technology officer now directly owns 3,000 shares in the company, valued at approximately $88,950. The disclosure for this sale can be found here. Insiders have sold a total of 86,000 shares of company stock worth $2,601,360 in the last ninety days. 5.20% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP purchased a new stake in Editas Medicine during the 3rd quarter worth $480,000. BlackRock Inc. increased its stake in Editas Medicine by 3.9% during the 3rd quarter. BlackRock Inc. now owns 3,589,141 shares of the company’s stock worth $114,207,000 after buying an additional 134,075 shares during the period. Bank of New York Mellon Corp increased its stake in Editas Medicine by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 198,851 shares of the company’s stock worth $6,327,000 after buying an additional 5,579 shares during the period. Swiss National Bank increased its stake in Editas Medicine by 4.4% during the 3rd quarter. Swiss National Bank now owns 61,800 shares of the company’s stock worth $1,966,000 after buying an additional 2,600 shares during the period. Finally, ARK Investment Management LLC increased its stake in Editas Medicine by 28.1% during the 3rd quarter. ARK Investment Management LLC now owns 2,793,854 shares of the company’s stock worth $88,900,000 after buying an additional 612,282 shares during the period. 67.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EDIT traded down $1.03 during mid-day trading on Monday, reaching $28.95. The company had a trading volume of 706,287 shares, compared to its average volume of 658,997. The firm has a market cap of $1.36 billion, a PE ratio of -9.71 and a beta of 3.14. Editas Medicine has a fifty-two week low of $22.50 and a fifty-two week high of $45.02. The company has a quick ratio of 14.50, a current ratio of 14.50 and a debt-to-equity ratio of 0.14.
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.
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