In the latest trading session, Editas Medicine (EDIT - Free Report) closed at $19.75, marking a +1.65% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.07%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.14%.
Heading into today, shares of the genome editing company had lost 26.43% over the past month, lagging the Medical sector's gain of 3.85% and the S&P 500's gain of 6.28% in that time.
Investors will be hoping for strength from EDIT as it approaches its next earnings release. The company is expected to report EPS of -$0.39, up 53.57% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. 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 industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.