In the latest trading session, Editas Medicine (EDIT - Free Report) closed at $19.86, marking a -0.45% move from the previous day. This move lagged the S&P 500's daily loss of 0.27%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq gained 0.09%.
Prior to today's trading, shares of the genome editing company had lost 24.03% over the past month. This has lagged the Medical sector's gain of 3.32% and the S&P 500's gain of 6.26% in that time.
EDIT will be looking to display strength as it nears its next earnings release. In that report, analysts expect EDIT to post earnings of -$0.42 per share. This would mark year-over-year growth of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.30 million, up 344.01% from the year-ago period.
Investors should also note any 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. 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 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.