The stock of Editas Medicine Inc (NASDAQ:EDIT) hit a new 52-week low and has $11.09 target or 11.00% below today’s $12.46 share price. The 5 months bearish chart indicates high risk for the $427.19 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $11.09 price target is reached, the company will be worth $46.99 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 4.89% or $0.64 during the last trading session, hitting $12.46. About 361,969 shares traded hands or 13.25% up from the average. Editas Medicine Inc (NASDAQ:EDIT) has declined 64.50% since April 1, 2016 and is downtrending. It has underperformed by 65.71% the S&P500.
Analysts await Editas Medicine Inc (NASDAQ:EDIT) to report earnings on November, 8. After $-0.54 actual earnings per share reported by Editas Medicine Inc for the previous quarter, Wall Street now forecasts 20.37% negative EPS growth.
According to Zacks Investment Research, “Editas Medicine, Inc. is a genome editing company. It focuses on translating its genome editing technology into a novel class of human therapeutics which enable precise and corrective molecular modification to treat diseases. Editas Medicine, Inc. is based in Cambridge, Massachusetts.”
More notable recent Editas Medicine Inc (NASDAQ:EDIT) news were published by: Quotes.Wsj.com which released: “News Editas Medicine Inc.EDIT” on January 16, 2015, also Bostonglobe.com with their article: “Editas Medicine raises $94.4 million in year’s first IPO” published on February 02, 2016, Marketwatch.com published: “Virtual Stock Exchange” on January 06, 2016. More interesting news about Editas Medicine Inc (NASDAQ:EDIT) were released by: Ibtimes.com and their article: “Google-Backed Startup Editas Medicine Becomes First Gene Editing Company To …” published on January 05, 2016 as well as Globenewswire.com‘s news article titled: “Editas Medicine to Host Conference Call Discussing Third Quarter 2016 …” with publication date: October 31, 2016.
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