Shares of Editas Medicine, Inc. (NASDAQ:EDIT – Get Free Report) have received an average rating of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.90.
A number of research firms have issued reports on EDIT. Barclays decreased their price target on shares of Editas Medicine from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Truist Financial lowered their target price on Editas Medicine from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $8.00 price target on shares of Editas Medicine in a report on Thursday. Bank of America upgraded shares of Editas Medicine from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $15.00 in a research note on Thursday, August 8th. Finally, Oppenheimer reaffirmed a “market perform” rating and set a $12.00 target price on shares of Editas Medicine in a research report on Tuesday, June 18th.
Check Out Our Latest Research Report on EDIT
Insider Activity
Institutional Investors Weigh In On Editas Medicine
A number of hedge funds and other institutional investors have recently bought and sold shares of EDIT. Russell Investments Group Ltd. grew its holdings in Editas Medicine by 401.9% during the 4th quarter. Russell Investments Group Ltd. now owns 5,190 shares of the company’s stock worth $53,000 after acquiring an additional 4,156 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Editas Medicine by 481.7% during the first quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock valued at $70,000 after purchasing an additional 7,861 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Editas Medicine during the first quarter valued at approximately $72,000. Koss Olinger Consulting LLC acquired a new stake in shares of Editas Medicine in the second quarter valued at approximately $47,000. Finally, HB Wealth Management LLC bought a new position in Editas Medicine in the 1st quarter worth approximately $76,000. 71.90% of the stock is owned by institutional investors and hedge funds.
Editas Medicine Stock Performance
Shares of EDIT stock opened at $3.77 on Wednesday. The stock’s 50 day simple moving average is $4.34 and its 200 day simple moving average is $5.46. Editas Medicine has a twelve month low of $3.40 and a twelve month high of $11.69. The company has a market capitalization of $310.04 million, a price-to-earnings ratio of -1.80 and a beta of 1.99.
Editas Medicine (NASDAQ:EDIT – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.12). The firm had revenue of $0.51 million during the quarter, compared to the consensus estimate of $4.78 million. Editas Medicine had a negative net margin of 288.59% and a negative return on equity of 62.61%. The company’s revenue for the quarter was down 82.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.56) EPS. On average, analysts forecast that Editas Medicine will post -2.97 EPS for the current fiscal year.
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.
Read More
- Five stocks we like better than Editas Medicine
- Technology Stocks Explained: Here’s What to Know About Tech
- Analysts Predict 85% Upside for Wave Life Sciences After Rate Cut
- Why is the Ex-Dividend Date Significant to Investors?
- FedEx Stock Dips: Another Reason to Fear Recession Is Near
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- The Half-Penny Revolution: Will SEC’s Reform Benefit Investors?
Receive News & Ratings for Editas Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine and related companies with MarketBeat.com's FREE daily email newsletter.