Editas Medicine, Inc. (NASDAQ:EDIT) Receives $7.00 Average PT from Analysts

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) has received a consensus rating of "Hold" from the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $7.00.

Several equities research analysts have recently commented on EDIT shares. Royal Bank of Canada lowered their price target on shares of Editas Medicine from $5.00 to $4.00 and set a "sector perform" rating for the company in a research report on Friday, December 13th. Bank of America lowered shares of Editas Medicine from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $13.00 to $1.00 in a report on Monday, November 25th. Chardan Capital reissued a "neutral" rating on shares of Editas Medicine in a research note on Friday, December 13th. Wells Fargo & Company cut Editas Medicine from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $7.00 to $4.00 in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. downgraded Editas Medicine from a "neutral" rating to an "underweight" rating in a report on Monday, December 16th.

Institutional Investors Weigh In On Editas Medicine

Several large investors have recently made changes to their positions in EDIT. Jacobs Levy Equity Management Inc. boosted its stake in Editas Medicine by 133.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company's stock worth $1,807,000 after purchasing an additional 302,652 shares during the period. Barclays PLC lifted its holdings in shares of Editas Medicine by 46.9% in the third quarter. Barclays PLC now owns 178,507 shares of the company's stock valued at $607,000 after purchasing an additional 56,986 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Editas Medicine by 37.3% during the third quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company's stock worth $187,000 after buying an additional 14,888 shares during the period. FMR LLC grew its holdings in shares of Editas Medicine by 110.7% during the third quarter. FMR LLC now owns 203,087 shares of the company's stock worth $693,000 after buying an additional 106,684 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Editas Medicine during the third quarter worth about $240,000. Institutional investors own 71.90% of the company's stock.

Editas Medicine Stock Up 19.9 %

EDIT stock traded up $0.28 during midday trading on Friday, reaching $1.66. The stock had a trading volume of 4,197,422 shares, compared to its average volume of 2,403,676. The firm has a market cap of $136.62 million, a price-to-earnings ratio of -0.65 and a beta of 1.94. Editas Medicine has a twelve month low of $1.12 and a twelve month high of $11.58. The business has a fifty day simple moving average of $1.34 and a two-hundred day simple moving average of $2.62.

Editas Medicine Company Profile

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.