Editas Medicine (EDIT - Free Report) closed at $21.60 in the latest trading session, marking a -0.6% move from the prior day. This move lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Coming into today, shares of the genome editing company had lost 1.05% in the past month. In that same time, the Medical sector gained 5.59%, while the S&P 500 gained 7.92%.
EDIT will be looking to display strength as it nears 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%. Meanwhile, our latest consensus estimate is calling for revenue of $16.30 million, up 344.01% from the prior-year quarter.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 currently a Zacks Rank #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 61, putting it in the top 24% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.