Editas Medicine (NASDAQ:EDIT) Rating Lowered to "Hold" at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Editas Medicine (NASDAQ:EDIT - Free Report) from a buy rating to a hold rating in a research report released on Friday, Marketbeat Ratings reports. They currently have $3.00 target price on the stock, down from their previous target price of $11.00.

Other equities analysts also recently issued reports about the company. Raymond James downgraded Editas Medicine from an "outperform" rating to a "market perform" rating in a research report on Monday, November 4th. Barclays lowered their price target on Editas Medicine from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 5th. Royal Bank of Canada decreased their target price on shares of Editas Medicine from $8.00 to $5.00 and set a "sector perform" rating for the company in a research report on Tuesday, November 5th. Chardan Capital restated a "buy" rating and set a $12.00 price target on shares of Editas Medicine in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company cut Editas Medicine from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $7.00 to $4.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $6.85.

Editas Medicine Stock Performance

Shares of Editas Medicine stock traded down $0.47 during trading hours on Friday, reaching $1.43. The company's stock had a trading volume of 9,033,671 shares, compared to its average volume of 2,011,957. Editas Medicine has a one year low of $1.41 and a one year high of $11.58. The company's 50 day simple moving average is $2.80 and its 200 day simple moving average is $3.94. The stock has a market cap of $117.63 million, a P/E ratio of -0.59 and a beta of 1.86.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting the consensus estimate of ($0.75). The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $3.93 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The business's revenue was down 98.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.55) earnings per share. On average, sell-side analysts predict that Editas Medicine will post -2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

A number of institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in Editas Medicine by 10.5% during the second quarter. International Assets Investment Management LLC now owns 31,457 shares of the company's stock valued at $147,000 after purchasing an additional 3,000 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Editas Medicine by 10.1% in the second quarter. The Manufacturers Life Insurance Company now owns 33,599 shares of the company's stock valued at $157,000 after purchasing an additional 3,089 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Editas Medicine by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 137,986 shares of the company's stock valued at $644,000 after buying an additional 3,862 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Editas Medicine by 20.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 24,485 shares of the company's stock valued at $83,000 after buying an additional 4,089 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Editas Medicine by 64.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 15,863 shares of the company's stock worth $54,000 after buying an additional 6,202 shares during the last quarter. 71.90% of the stock is currently owned by institutional investors and hedge funds.

About Editas Medicine

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.