Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.51 and traded as low as $1.28. Editas Medicine shares last traded at $1.30, with a volume of 1,372,494 shares.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on EDIT shares. Chardan Capital reiterated a "neutral" rating on shares of Editas Medicine in a report on Friday, December 13th. JPMorgan Chase & Co. downgraded Editas Medicine from a "neutral" rating to an "underweight" rating in a research note on Monday, December 16th. Evercore ISI decreased their price objective on Editas Medicine from $7.00 to $5.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Stifel Nicolaus lowered Editas Medicine from a "buy" rating to a "hold" rating and dropped their target price for the company from $11.00 to $3.00 in a report on Friday, December 13th. Finally, Royal Bank of Canada cut their target price on Editas Medicine from $5.00 to $4.00 and set a "sector perform" rating on the stock in a research report on Friday, December 13th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $6.83.
View Our Latest Analysis on EDIT
Editas Medicine Trading Down 3.8 %
The stock has a market capitalization of $103.72 million, a PE ratio of -0.49 and a beta of 1.88. The firm has a 50-day moving average price of $1.51 and a 200-day moving average price of $2.17.
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 for the quarter, missing the consensus estimate of ($0.39) by ($0.16). The company had revenue of $30.60 million for the quarter, compared to the consensus estimate of $37.17 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. During the same quarter in the previous year, the company posted ($0.23) EPS. Sell-side analysts expect that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Editas Medicine
A number of hedge funds have recently modified their holdings of EDIT. Intech Investment Management LLC purchased a new position in shares of Editas Medicine in the third quarter worth about $98,000. Dynamic Technology Lab Private Ltd bought a new position in Editas Medicine in the 3rd quarter worth approximately $240,000. FMR LLC grew its stake in Editas Medicine by 110.7% in the 3rd quarter. FMR LLC now owns 203,087 shares of the company's stock valued at $693,000 after buying an additional 106,684 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Editas Medicine by 37.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company's stock valued at $187,000 after acquiring an additional 14,888 shares during the period. Finally, Townsquare Capital LLC raised its holdings in Editas Medicine by 169.8% during the 3rd quarter. Townsquare Capital LLC now owns 29,923 shares of the company's stock valued at $102,000 after acquiring an additional 18,831 shares during the period. Institutional investors own 71.90% of the company's stock.
Editas Medicine Company Profile
(
Get Free Report)
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.
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