Wall Street analysts expect that Editas Medicine, Inc. (NASDAQ:EDIT) will announce sales of $4.94 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Editas Medicine’s earnings. The lowest sales estimate is $2.00 million and the highest is $7.50 million. Editas Medicine posted sales of $11.42 million in the same quarter last year, which suggests a negative year-over-year growth rate of 56.7%. The business is scheduled to issue its next earnings report on Thursday, February 24th.
On average, analysts expect that Editas Medicine will report full-year sales of $17.39 million for the current fiscal year, with estimates ranging from $13.10 million to $20.90 million. For the next financial year, analysts anticipate that the company will post sales of $32.08 million, with estimates ranging from $15.00 million to $77.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Monday, November 8th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.24. Editas Medicine had a negative net margin of 871.91% and a negative return on equity of 38.28%. The business had revenue of $6.20 million for the quarter, compared to analysts’ expectations of $4.92 million. During the same period in the previous year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was down 90.1% compared to the same quarter last year.
In related news, CFO Michelle Robertson sold 1,744 shares of the company’s stock in a transaction that occurred on Tuesday, January 11th. The shares were sold at an average price of $25.70, for a total transaction of $44,820.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lisa Anne Michaels sold 1,568 shares of the company’s stock in a transaction that occurred on Friday, November 12th. The stock was sold at an average price of $38.33, for a total transaction of $60,101.44. The disclosure for this sale can be found here. Insiders have sold a total of 17,404 shares of company stock worth $641,581 in the last ninety days. 0.94% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Editas Medicine by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,483,932 shares of the company’s stock worth $367,250,000 after acquiring an additional 136,178 shares during the period. State Street Corp grew its stake in Editas Medicine by 9.1% in the 2nd quarter. State Street Corp now owns 2,534,162 shares of the company’s stock worth $143,535,000 after buying an additional 210,444 shares in the last quarter. Geode Capital Management LLC grew its stake in Editas Medicine by 4.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,205,271 shares of the company’s stock worth $68,266,000 after buying an additional 51,906 shares in the last quarter. Victory Capital Management Inc. grew its stake in Editas Medicine by 2,523.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,118,909 shares of the company’s stock worth $45,964,000 after buying an additional 1,076,258 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Editas Medicine by 17.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,102,447 shares of the company’s stock worth $62,443,000 after buying an additional 160,178 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.
Editas Medicine stock opened at $22.10 on Friday. The stock has a market cap of $1.51 billion, a PE ratio of -6.82 and a beta of 1.93. Editas Medicine has a fifty-two week low of $20.90 and a fifty-two week high of $83.95. The firm’s 50-day simple moving average is $30.51 and its 200 day simple moving average is $43.37.
About Editas Medicine
Editas Medicine, Inc engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR), and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J.
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