SEll ALERT: Editas
7th August 2018 |
CRISPR is a revolutionary discovery and Editas Medicine is likely to prevail in the battle over the intellectual property relating to its discovery.
However, there have been persistent rumours about the carcinogenic impact of editing genes and the company missed its earnings estimates when it reported last week.
We have sat through a number of bouts of volatility with the share since initially opening the position. At first, our decision was vindicated by seeing successively higher rebounds. But this latest decline is out of character with those we have seen previously and therefore suggests a change in terms of the supply and demand of the market crowd is underway. Therefore I recommend selling Editas to harvest the remaining 36.7% profit.
Action to take: Sell Editas Medicine for a 36.7% profit
Ticker: EDIT
Price recommended at: $21.28
Last close (as at 07/08/2018): $29.09
All the best,
Eoin Treacy
Investment Director, Frontier Tech Investor
