Why Editas Medicine Stock Is Tumbling This Week
Shares of Editas Medicine (NASDAQ: EDIT) were tumbling 13% lower this week as of the market close on Thursday, based on data from S&P Global Market Intelligence. The company presented at the virtual J. P. Morgan Healthcare Conference on Wednesday. However, Editas had a generally positive message about its plans for 2022.
So why are Editas Medicine's shares falling so much? Biotech stocks, in general, have experienced declines this week. The overall sell-off appears to be dragging Editas down in the wake.
There's also a possibility that investors are concerned that CRISPR base-editing therapies will steal the thunder from the CRISPR approach that Editas uses. Editas Medicine CEO James Mullen specifically mentioned base editing in his comments at the J. P. Morgan conference and seemed a bit defensive.
Source Fool.com
