Editas Medicine, Inc. EDIT was a big mover last session, as the company saw its shares rise more than 13% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $29.84 to $35.96 in the past one-month time frame.
The move came after the company has extended its collaboration agreement with Adverum Biotechnologies, Inc. to discover the genome editing medicines for the treatment of nearly five inherited retinal diseases.
The company has not seen any estimate revisions over the past month and the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Editas Medicine currently has a Zacks Rank #4 (Sell), while its Earnings ESP is positive.
A better-ranked stock in the Medical – Biomedical and Genetics industry is Bioverativ Inc. BIVV, which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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