Key Points
- Editas presented this week at the J.P. Morgan Healthcare Conference.
- Some investors could be concerned about a threat from CRISPR base editing.
- However, the main factor behind Editas' decline this week appears to be the overall sell-off in biotech stocks.
Why is Editas Medicine stock down 17% today?
Mar 04, 2021 · Why Editas Medicine Stock Sank Today The stock was pulled down by the undertow of the broader market sell-off. What happened Shares of Editas Medicine ( EDIT 4.46% ) were down 6.8% as of 3:51 p.m....
Does Jason Hawthorne own Editas Medicine?
Sep 29, 2021 · Shares of gene-editing company Editas Medicine ( EDIT-3.83%) are down more than 17% as of 11:15 a.m. EDT this morning after the company shared the first ... Why Editas Medicine Stock Is Tumbling ...
How can I get the latest news and ratings for edit?
Sep 29, 2021 · Currently, shares of EDIT stock are down 20% on heavy volume as investors continue to re-assess their growth holdings today. Source: Shutterstock. Despite a rather nice bounce back for equities ...
What can I do with the Stock Market Insider app?
Sep 29, 2021 · Editas Medicine Inc EDIT has announced initial clinical data from the ongoing Phase 1/2 BRILLIANCE trial of EDIT-101 for ... EDIT stock is down 20.50% at $41.71 during the market session on the ...
Why is Editas stock going down?
One reason behind the analyst's bearish sentiment is Editas Medicine's EDIT-101, a potential treatment for a rare eye disease called Leber congenital amaurosis. Initial results do not indicate that EDIT-101 could meaningfully improve patients' vision, according to Kumar.Apr 16, 2021
Is Editas stock a good buy?
The Editas Medicine, Inc stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock.
Will Editas stock go up?
Stock Price Forecast The 14 analysts offering 12-month price forecasts for Editas Medicine Inc have a median target of 30.00, with a high estimate of 80.00 and a low estimate of 10.00. The median estimate represents a +92.18% increase from the last price of 15.61.
Who invested in Editas?
Top 10 Owners of Editas Medicine IncStockholderStakeTotal changeThe Vanguard Group, Inc.10.70%+12.99%BlackRock Fund Advisors6.85%+0.94%ARK Investment Management LLC6.16%-33.01%SSgA Funds Management, Inc.4.78%+51.74%6 more rows
Is Editas a buy or a sell?
Editas Medicine has received a consensus rating of Hold. The company's average rating score is 2.33, and is based on 4 buy ratings, 4 hold ratings, and 1 sell rating.
Is Editas a good company?
Valuation metrics show that Editas Medicine, Inc. may be overvalued. Its Value Score of F indicates it would be a bad pick for value investors. The financial health and growth prospects of EDIT, demonstrate its potential to underperform the market.
Is RPTX a buy?
Out of 4 analysts, 3 (75%) are recommending RPTX as a Strong Buy, 1 (25%) are recommending RPTX as a Buy, 0 (0%) are recommending RPTX as a Hold, 0 (0%) are recommending RPTX as a Sell, and 0 (0%) are recommending RPTX as a Strong Sell. What is RPTX's earnings growth forecast for 2022-2024?
Why did EDIT stock go up?
That's because the convergence of DNA editing, artificial intelligence, and gene therapies, importantly CRISPR gene editing, is going to cure disease." Editas is generating much higher gains today than the other leading CRISPR-focused biotech, CRISPR Therapeutics ( CRSP -2.01% ), though.Dec 21, 2020
Does Ark own Editas?
In addition to Editas, CRISPR Therapeutics, and Beam, the ARK Genomic Revolution ETF owns shares in Intellia Therapeutics, Caribou Biosciences, and Cellectis. The ARK Innovation ETF also owns a position in Intellia.Sep 23, 2021
What does Editas company do?
Editas Medicine is a leading genome editing company focused on translating the power and potential of the CRISPR/Cas9 and CRISPR/Cas12a genome editing systems into a robust pipeline of medicines for people living with serious diseases around the world.
Who owns Editas medicine?
Editas MedicineTypePublicFoundersJennifer Doudna, Feng Zhang, George Church (geneticist), David R. Liu, J. Keith JoungHeadquartersCambridge, Massachusetts , United StatesNumber of locations2Key peopleJames Mullen (President and CEO)8 more rows
What happened
Shares of gene-editing company Editas Medicine ( EDIT -1.25% ) are down more than 17% as of 11:15 a.m. EDT this morning after the company shared the first clinical data for its CRISPR-based treatment EDIT-101.
So what
Unlike many other companies using CRISPR to try to cure a genetic disease, Editas chose an inherited form of rapid vision loss as its target. The defect impacts the retina's ability to sense light and is estimated to affect a few thousand people in the U.S. and Europe. Most of those people are effectively blind in infancy or early childhood.
Now what
The results might not have been the overwhelming success that investors got from the in vivo treatment by Intellia Therapeutics and Regeneron in June, but there is progress and more data on the horizon.
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Editas Q1 Earnings Miss Estimates, Revenues Beat
Editas incurred a loss of 86 cents per share in the first quarter of 2021, which was wider than both the Zacks Consensus Estimate of a loss of 76 cents per share and the year-ago quarter’s loss of 69 cents.
Quarter in Detail
In the first quarter, research and development expenses were $41.9 million, up 21.1% from the year-ago figure due to increased expenses related to clinical pipeline development.
Editas Misses on Q4 Earnings, Beats on Revenues
Editasincurred a loss of $1 per share in the fourth quarter of 2020, which was wider than the Zacks Consensus Estimate of a loss of 82 cents per share and also the year-ago quarter’s loss of 74 cents.
Quarter in Detail
In the fourth quarter, research and development expenses were $61.5 million, up 76.7% from the year-ago figure due to increased expenses related to the development of EDIT-101.
Does Editas Medicine Have A Long Cash Runway?
You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. As at September 2021, Editas Medicine had cash of US$558m and no debt. In the last year, its cash burn was US$176m. Therefore, from September 2021 it had 3.2 years of cash runway.
How Well Is Editas Medicine Growing?
Editas Medicine boosted investment sharply in the last year, with cash burn ramping by 66%. And that is all the more of a concern in light of the fact that operating revenue was actually down by 73% in the last year, as the company no doubt scrambles to change its fortunes.
Can Editas Medicine Raise More Cash Easily?
Editas Medicine seems to be in a fairly good position, in terms of cash burn, but we still think it's worthwhile considering how easily it could raise more money if it wanted to. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt.
How Risky Is Editas Medicine's Cash Burn Situation?
On this analysis of Editas Medicine's cash burn, we think its cash runway was reassuring, while its falling revenue has us a bit worried.
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