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Editas Medicine (EDIT, $34.90) shares got a sell rating from Goldman Sachs
Editas Medicine shares got a sell rating from Goldman Sachs as the latter initiated coverage on the stock.
Goldman Sachs analysts set a price target of $20 a share, a Wall Street low, on the biotech shares. According to the analysts, the risk-reward dynamic was skewed negatively for the company.
Goldman analyst Madhu Kumar mentioned in a note that initial results from Editas’ experimental Crispr gene editing product EDIT-11 in a rare eye disease may not lead to adequate productive editing to meaningfully improve patients' vision. Also affecting the rating is competition from ProQR Therapeutics for treatment of Leber's congenital amaurosis.
On the other hand, Kumar was more optimistic on Apellis Pharmaceuticals and Dicerna Pharmaceuticals. The analyst has price targets of $130 on Apellis and $48 on Dicerna – both Wall Street highs. Both got buy ratings.
EDIT in downward trend: 10-day moving average crossed below 50-day moving average on April 21, 2022
The 10-day Moving Average for EDIT crossed bearishly below the 50-day moving average on April 21, 2022. This indicates that the trend has shifted lower and could be considered a sell signal. In 11 of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 85%.
Current price $10.16 crossed the support line at $62.32 and is trading between $62.32 support and $4.92 support lines. Throughout the month of 04/25/22 - 05/25/22, the price experienced a -32% Downtrend. During the week of 05/18/22 - 05/25/22, the stock fell -5%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where EDIT declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 81%.
The Aroon Indicator for EDIT entered a downward trend on May 23, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where EDIT's RSI Oscillator exited the oversold zone, 22 of 26 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 85%.
The Stochastic Indicator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
The Momentum Indicator moved above the 0 level on May 25, 2022. You may want to consider a long position or call options on EDIT as a result. In 77 of 95 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 81%.
The Moving Average Convergence Divergence (MACD) for EDIT just turned positive on May 25, 2022. Looking at past instances where EDIT's MACD turned positive, the stock continued to rise in 38 of 47 cases over the following month. The odds of a continued upward trend are 81%.
Following a +2.80% 3-day Advance, the price is estimated to grow further. Considering data from situations where EDIT advanced for three days, in 249 of 310 cases, the price rose further within the following month. The odds of a continued upward trend are 80%.
EDIT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 51%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.12.
The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. EDIT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 96, placing this stock worse than average.
The Tickeron SMR rating for this company is 98 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 92 (best 1 - 100 worst), indicating slightly worse than average price growth. EDIT’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of 40 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.360) is normal, around the industry mean (22.967). P/E Ratio (0.000) is within average values for comparable stocks, (97.642). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (3.629). Dividend Yield (0.000) settles around the average of (0.024) among similar stocks. P/S Ratio (26.882) is also within normal values, averaging (289.646).
Biotechnology involves genetic or protein engineering to produce medicines/therapies for treating and preventing ailments. The industry also provides crucial ingredients for diagnostics. This multi-billion-dollar industry is heavily focused on research and development, as companies attempt to continually come up with cutting-edge solutions for health. New discoveries for the treatment of diseases provide opportunities for growth for a company in this industry. Discoveries, however, must pass the regulatory approval from the U.S. Food and Drug Administration (FDA) before they can make it to markets. Amgen Inc., Gilead Sciences, Inc. and Celgene Corporation are examples of companies in this industry.
The average market capitalization across the Biotechnology Industry is 1.6B. The market cap for tickers in the group ranges from 2.5K to 242.1B. NONOF holds the highest valuation in this group at 242.1B. The lowest valued company is IMUND at 2.5K.
The average weekly price growth across all stocks in the Biotechnology Industry was -1.22%. For the same Industry, the average monthly price growth was -15.92%, and the average quarterly price growth was -43.66%. MSCLF experienced the highest price growth at 2469.17%, while IVBT experienced the biggest fall at -86.6%.
- 5/19/22 8:24 AM: Editas Medicine (EDIT, $10.72) was a top weekly gainer, with a +6.88% jump
- 5/5/22 4:57 AM: Editas Medicine (EDIT, $15.81) was a top weekly gainer, with a +16.59% jump
- 3/18/22 7:14 AM: Editas Medicine (EDIT, $17.27) was a top weekly gainer, with a +6.41% jump
The average weekly volume growth across all stocks in the Biotechnology Industry was 22.25%. For the same stocks of the Industry, the average monthly volume growth was 29.27% and the average quarterly volume growth was -20.84%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Positive Outlook today, backed by the Volume Indicator. Tickeron has a positive outlook on this group and predicts a further increase by more than 4.00% within the next month with a likelihood of 39%. During the last month, the daily ratio of advancing to declining volumes was 1.34 to 1.
8 stocks in the group of tickers exhibit a similar positive trend based on the RSI indicator with an average likelihood of 84%.
The most notable companies in this group are Novavax (NASDAQ:NVAX), BioCryst Pharmaceuticals (NASDAQ:BCRX), Cel-Sci Corp (ASE:CVM).
The average market capitalization across the group is 715.6M. The market cap for tickers in the group ranges from 26.2M to 3.6B. NVAX holds the highest valuation in this group at 3.6B. The lowest valued company is GENE at 26.2M.
The average weekly price growth across all stocks in the group was 1.66%. For the same group, the average monthly price growth was -12.91%, and the average quarterly price growth was -51.55%. IDRA experienced the highest price growth at 34.29%, while NVAX experienced the biggest fall at -11.48%.
- 5/20/22 5:28 AM: BioCryst Pharmaceuticals (BCRX, $9.03) was a top weekly gainer, with a +14.45% jump
- 5/19/22 8:24 AM: Novavax (NVAX, $52.11) was a top weekly gainer, with a +21.41% jump
- 5/19/22 8:24 AM: Idera Pharmaceuticals (IDRA, $0.44) is a top weekly gainer for penny stocks, rising +39.49%
The average weekly volume growth across all stocks in the group was -1.45%. For the same stocks of the group, the average monthly volume growth was 104.15% and the average quarterly volume growth was 13.76%
- 5/14/22 4:16 AM: The volume for Compugen stock increased for four consecutive days, resulting in a record-breaking daily growth of 84% of the 65-Day Volume Moving Average
- 4/20/22 8:52 AM: The volume for Idera Pharmaceuticals stock increased for one day, resulting in a record-breaking daily growth of 349% of the 65-Day Volume Moving Average
- 3/19/22 4:43 AM: The volume for Agenus stock increased for one day, resulting in a record-breaking daily growth of 249% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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