What’s Ahead for Editas Medicine, Inc. (EDIT) After Forming Head & Shoulders Chart Pattern?

July 16, 2018 - By Jason Dias

Editas Medicine, Inc. (NASDAQ:EDIT) Logo

The stock of Editas Medicine, Inc. (EDIT) formed H&S with $33.66 target or 7.00 % below today’s $36.19 share price. The 7 months Head & Shoulders indicates high risk for the $1.69B company. It was reported on Jul, 16 by Faxor.com. If the $33.66 price target is reached, the company will be worth $118.23M less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock decreased 4.51% or $1.71 during the last trading session, reaching $36.19. About 869,772 shares traded. Editas Medicine, Inc. (NASDAQ:EDIT) has risen 123.97% since July 16, 2017 and is uptrending. It has outperformed by 111.40% the S&P500.

Analysts await Editas Medicine, Inc. (NASDAQ:EDIT) to report earnings on August, 8. They expect $-0.69 EPS, down 6.15 % or $0.04 from last year’s $-0.65 per share. After $-0.67 actual EPS reported by Editas Medicine, Inc. for the previous quarter, Wall Street now forecasts 2.99 % negative EPS growth.

More notable recent Editas Medicine, Inc. (NASDAQ:EDIT) news were published by: Streetinsider.com which released: “Editas Medicine (EDIT) volume increases as shares sell off 4% on study” on July 16, 2018, also Benzinga.com with their article: “Jim Cramer Shares His Thoughts On Home Depot, Celgene And More” published on July 10, 2018, Globenewswire.com published: “Factors of Influence in 2018, Key Indicators and Opportunity within TrustCo Bank Corp NY, Highwoods Properties …” on June 21, 2018. More interesting news about Editas Medicine, Inc. (NASDAQ:EDIT) were released by: Fool.com and their article: “A Deep Dive Into the Latest CRISPR Controversy: Here’s What You Should Know” published on July 04, 2018 as well as Fool.com‘s news article titled: “Editas Medicine Stock History: The Story Behind the CRISPR Gene-Editing Pioneer” with publication date: June 22, 2018.

Editas Medicine, Inc. operates as a genome editing company. The company has market cap of $1.69 billion. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. It currently has negative earnings. It is developing a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

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