Analysts Issue Forecasts for Editas Medicine FY2027 Earnings

Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) - Stock analysts at Zacks Research issued their FY2027 earnings estimates for Editas Medicine in a research report issued on Wednesday, March 26th. Zacks Research analyst A. Chakraborty forecasts that the company will post earnings of ($2.30) per share for the year. The consensus estimate for Editas Medicine's current full-year earnings is ($2.71) per share.

A number of other research firms have also recently weighed in on EDIT. Barclays reduced their price target on Editas Medicine from $5.00 to $3.00 and set an "equal weight" rating for the company in a report on Friday, December 13th. JPMorgan Chase & Co. lowered shares of Editas Medicine from a "neutral" rating to an "underweight" rating in a report on Monday, December 16th. Wells Fargo & Company downgraded shares of Editas Medicine from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $7.00 to $4.00 in a report on Wednesday, December 11th. Chardan Capital reissued a "neutral" rating on shares of Editas Medicine in a research note on Friday, December 13th. Finally, Truist Financial cut Editas Medicine from a "buy" rating to a "hold" rating in a 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $6.83.

Editas Medicine Stock Performance

Shares of EDIT traded down $0.02 during trading hours on Friday, hitting $1.15. The stock had a trading volume of 1,036,107 shares, compared to its average volume of 2,540,021. The firm has a 50-day moving average price of $1.51 and a 200 day moving average price of $2.14. The firm has a market capitalization of $95.01 million, a price-to-earnings ratio of -0.45 and a beta of 1.88. Editas Medicine has a fifty-two week low of $1.12 and a fifty-two week high of $7.41.

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Editas Medicine (NASDAQ:EDIT - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $30.60 million during the quarter, compared to analyst estimates 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 period last year, the firm earned ($0.23) EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Two Sigma Advisers LP boosted its position 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 valued at $2,104,000 after buying an additional 528,000 shares during the period. Two Sigma Investments LP raised its stake in shares of Editas Medicine by 21.4% in the fourth quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company's stock valued at $2,094,000 after acquiring an additional 290,483 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Editas Medicine during the 4th quarter worth $1,843,000. Balyasny Asset Management L.P. increased its holdings in Editas Medicine by 647.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company's stock worth $1,652,000 after purchasing an additional 1,126,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 in the last quarter. Institutional investors and hedge funds own 71.90% of the company's stock.

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.