Editas Medicine, Inc. (NASDAQ:EDIT) Given Consensus Rating of "Hold" by Analysts

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) has been assigned an average rating of "Hold" from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $6.83.

A number of equities research analysts have recently issued reports on EDIT shares. Robert W. Baird reduced their price target on shares of Editas Medicine from $10.00 to $8.00 and set an "outperform" rating for the company in a research report on Friday, December 13th. Evercore ISI dropped their price objective on Editas Medicine from $7.00 to $5.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. downgraded Editas Medicine from a "neutral" rating to an "underweight" rating in a research report on Monday, December 16th. Bank of America cut Editas Medicine from a "buy" rating to an "underperform" rating and dropped their price target for the company from $13.00 to $1.00 in a research report on Monday, November 25th. Finally, Royal Bank of Canada cut their price target on Editas Medicine from $5.00 to $4.00 and set a "sector perform" rating for the company in a research note on Friday, December 13th.

Institutional Trading of Editas Medicine

Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its stake in shares of Editas Medicine by 236.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 111,716 shares of the company's stock worth $142,000 after acquiring an additional 78,513 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Editas Medicine by 30.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,170,000 shares of the company's stock valued at $1,486,000 after purchasing an additional 272,467 shares during the period. Two Sigma Advisers LP increased its stake in Editas Medicine by 46.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,657,000 shares of the company's stock worth $2,104,000 after purchasing an additional 528,000 shares in the last quarter. Two Sigma Investments LP raised its holdings in Editas Medicine by 21.4% during the 4th quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company's stock worth $2,094,000 after buying an additional 290,483 shares during the period. Finally, Tang Capital Management LLC purchased a new stake in Editas Medicine during the fourth quarter valued at about $508,000. Institutional investors own 71.90% of the company's stock.

Editas Medicine Stock Down 5.8 %

NASDAQ EDIT opened at $1.47 on Wednesday. The firm has a market cap of $121.97 million, a P/E ratio of -0.57 and a beta of 1.88. Editas Medicine has a 52-week low of $1.12 and a 52-week high of $9.08. The business's 50-day moving average price is $1.49 and its 200 day moving average price is $2.37.

Remove Ads

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.16). The firm had revenue of $30.60 million for the quarter, compared to analysts' expectations of $37.17 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. During the same period in the prior year, the company earned ($0.23) earnings per share. As a group, analysts anticipate that Editas Medicine will post -2.71 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.