In the latest trading session, Editas Medicine (EDIT) closed at $41.86, marking a -0.1% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.54%.
Heading into today, shares of the genome editing company had lost 25.87% over the past month, lagging the Medical sector's loss of 3.77% and the S&P 500's gain of 3.05% 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 August 4, 2021. In that report, analysts expect EDIT to post earnings of -$0.85 per share. This would mark a year-over-year decline of 97.67%. Meanwhile, our latest consensus estimate is calling for revenue of $6.69 million, down 37.8% from the prior-year quarter.
EDIT's full-year Zacks Consensus Estimates are calling for earnings of -$3.67 per share and revenue of $25.41 million. These results would represent year-over-year changes of -85.35% and -72%, respectively.
It is also important to note the recent changes to analyst estimates for EDIT. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. EDIT is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 19% 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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