Editas Medicine (EDIT - Free Report) closed the most recent trading day at $26.20, moving -0.8% from the previous trading session. This change lagged the S&P 500's 0.02% loss on the day. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.21%.
Coming into today, shares of the genome editing company had lost 8.74% in the past month. In that same time, the Medical sector lost 3.97%, while the S&P 500 lost 1.4%.
Investors will be hoping for strength from EDIT as it approaches its next earnings release, which is expected to be March 5, 2019. The company is expected to report EPS of -$0.39, up 53.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $16.30 million, up 344.01% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for EDIT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate 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 51, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow EDIT in the coming trading sessions, be sure to utilize Zacks.com.