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Editas Medicine (EDIT) Gains But Lags Market: What You Should Know

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In the latest trading session, Editas Medicine (EDIT - Free Report) closed at $21.46, marking a +0.61% move from the previous day. The stock lagged the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.75%, while the tech-heavy Nasdaq added 1.29%.

Coming into today, shares of the genome editing company had gained 4.97% in the past month. In that same time, the Medical sector gained 9.03%, while the S&P 500 gained 12.44%.

Investors will be hoping for strength from EDIT as it approaches its next earnings release, which is expected to be March 5, 2019. On that day, EDIT is projected to report earnings of -$0.39 per share, which would represent year-over-year growth of 53.57%. Our most recent consensus estimate is calling for quarterly revenue of $16.30 million, up 344.01% from the year-ago period.

It is also important to note the recent changes to analyst estimates for EDIT. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. EDIT currently has a Zacks Rank of #3 (Hold).

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 21% 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.

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