The stock is trading at $24.80 just a bit higher than the 50 day moving average of $23.04 and slightly over the 200 day moving average of $22.95. The 50 day moving average went up by +7.66% whereas the 200 day average was up by +8.04%. Trading was light with 832K shares changing hands on Tuesday. Overall, volume was down 19.21% under the stocks normal daily volume.
Short traders are feeling a little more bearish lately if you watch the rise in short interest. The company saw a rise in short interest between September 29, 2017 and October 13, 2017 of 1.42%. Short interest increased 83,376 over that timeframe. Days to cover decreased 0.0 to 4.0 and the short interest percentage is 0.15% as of October 13.
These funds have shifted positions in (EDIT). As of the end of the quarter Bank Of Montreal /can/ had sold 300 shares trimming its position 50.0%. The value of the investment in EDIT went from $10,000 to $7,000 a change of $3,000 quarter over quarter. Nationwide Fund Advisors divested its position by selling 547 shares a decrease of 2.8% from 06/30/2017 to 09/30/2017. Nationwide Fund Advisors now controls 18,664 shares with a value of $448,000. The value of the position overall is up by 39.1%.
As of quarter end Victory Capital Management Inc had disposed of a total of 2,040 shares trimming its holdings by 4.9%. The value of the company’s investment in Editas Medicine, Inc. increased from $702,000 to $956,000 a change of 36.2% quarter to quarter. As of the end of the quarter Simplex Trading, LLC had sold 32,867 shares trimming its stake by 76.6%. The value of the investment in (EDIT) decreased from $720,000 to $241,000 decreasing 66.5% for the reporting period.
On July 14, 2017 SunTrust Robinson Humphrey began coverage of EDIT setting a rating of “Hold”. Equity analyst Oppenheimer starting coverage on EDIT by announcing an initial rating of “Perform”.
On September 7 analysts at Barclays starting coverage on the stock with a rating of “Overweight”.
As of the last earnings report the EPS was $-3.17 and is estimated to be $-2.88 for the current year with 40,926,000 shares presently outstanding. Next quarter’s EPS is expected be $-0.77 and the next full year EPS is anticipated to be $-2.85.
Editas Medicine, Inc., launched on September 3, 2013, is a genome editing company. The Company is involved in treating patients with genetically defined diseases by correcting their disease-causing genes. The Company operates through developing and commercializing genome editing technology segment. The Company is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology. CRISPR uses a protein-ribonucleic acid (RNA) complex composed of an enzyme, including either Cas9 (CRISPR associated protein 9) or Cpf1 (CRISPR from Prevotella and Francisella 1), bound to a guide RNA molecule designed to recognize a particular deoxyribonucleic acid (DNA) sequence. Once the complex binds to the DNA sequence it was designed to recognize, the complex makes a specific cut in the DNA, ultimately triggering the cell’s DNA repair machinery to change the targeted sequence. The Business’s platform consists of four interrelated components: nuclease engineering, delivery, control and specificity, and directed editing..