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Editas Medicine (EDIT) Stock Sinks As Market Gains: What You Should Know
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Editas Medicine (EDIT - Free Report) closed the most recent trading day at $38.22, moving -1.01% from the previous trading session. This change lagged the S&P 500's 0.37% gain on the day.
Prior to today's trading, shares of the genome editing company had gained 3.54% over the past month. This has lagged the Medical sector's gain of 4.38% and the S&P 500's gain of 5.96% in that time.
Wall Street will be looking for positivity from EDIT as it approaches its next earnings report date. This is expected to be November 8, 2021. The company is expected to report EPS of -$0.86, down 816.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.85 million, down 90.69% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.55 per share and revenue of $18.52 million, which would represent changes of -79.29% and -79.59%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for EDIT. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.35% higher. EDIT is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Editas Medicine (EDIT) Stock Sinks As Market Gains: What You Should Know
Editas Medicine (EDIT - Free Report) closed the most recent trading day at $38.22, moving -1.01% from the previous trading session. This change lagged the S&P 500's 0.37% gain on the day.
Prior to today's trading, shares of the genome editing company had gained 3.54% over the past month. This has lagged the Medical sector's gain of 4.38% and the S&P 500's gain of 5.96% in that time.
Wall Street will be looking for positivity from EDIT as it approaches its next earnings report date. This is expected to be November 8, 2021. The company is expected to report EPS of -$0.86, down 816.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.85 million, down 90.69% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.55 per share and revenue of $18.52 million, which would represent changes of -79.29% and -79.59%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for EDIT. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.35% higher. EDIT is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.