Wall Street analysts expect Editas Medicine Inc (NASDAQ:EDIT) to announce sales of $3.23 million for the current quarter, according to Zacks. Three analysts have made estimates for Editas Medicine’s earnings. The highest sales estimate is $3.70 million and the lowest is $2.50 million. Editas Medicine reported sales of $680,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 375%. The business is expected to announce its next quarterly earnings report on Monday, May 21st.
On average, analysts expect that Editas Medicine will report full-year sales of $3.23 million for the current fiscal year, with estimates ranging from $10.00 million to $39.03 million. For the next fiscal year, analysts forecast that the company will report sales of $31.78 million per share, with estimates ranging from $10.00 million to $58.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Tuesday, March 6th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.09). The company had revenue of $3.70 million during the quarter, compared to analyst estimates of $4.25 million. Editas Medicine had a negative net margin of 876.49% and a negative return on equity of 61.92%. The company’s revenue was up 311.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.10) EPS.
In other news, insider Katrine Bosley sold 14,995 shares of Editas Medicine stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $34.15, for a total transaction of $512,079.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew A. F. Hack sold 18,000 shares of Editas Medicine stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $34.21, for a total transaction of $615,780.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,133 shares of company stock valued at $3,031,597. 19.40% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can boosted its stake in Editas Medicine by 519.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock worth $114,000 after acquiring an additional 4,159 shares during the last quarter. Glenmede Trust Co. NA bought a new position in Editas Medicine during the 4th quarter worth approximately $153,000. Martingale Asset Management L P bought a new position in Editas Medicine during the 4th quarter worth approximately $219,000. Plancorp LLC bought a new position in Editas Medicine during the 4th quarter worth approximately $235,000. Finally, Teacher Retirement System of Texas bought a new position in Editas Medicine during the 4th quarter worth approximately $253,000. 64.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Editas Medicine (NASDAQ:EDIT) opened at $37.30 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.05 and a quick ratio of 9.05. The firm has a market cap of $1,782.56, a PE ratio of -12.52 and a beta of 3.68. Editas Medicine has a 1 year low of $13.12 and a 1 year high of $45.02.
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Editas Medicine Company Profile
Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.
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