Editas Medicine (EDIT) – Analysts’ Weekly Ratings Updates

Editas Medicine (NASDAQ: EDIT) recently received a number of ratings updates from brokerages and research firms:

• 12/16/2024 – Editas Medicine was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating.
• 12/16/2024 – Editas Medicine had its price target lowered by analysts at Evercore ISI from $7.00 to $5.00. They now have an “outperform” rating on the stock.
• 12/13/2024 – Editas Medicine had its price target lowered by analysts at Royal Bank of Canada from $5.00 to $4.00. They now have a “sector perform” rating on the stock.
• 12/13/2024 – Editas Medicine had its price target lowered by analysts at Robert W. Baird from $10.00 to $8.00. They now have an “outperform” rating on the stock.
• 12/13/2024 – Editas Medicine had its “neutral” rating reaffirmed by analysts at Chardan Capital.
• 12/13/2024 – Editas Medicine was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $3.00 price target on the stock, down previously from $11.00.
• 12/13/2024 – Editas Medicine was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating.
• 12/13/2024 – Editas Medicine had its price target lowered by analysts at Barclays PLC from $5.00 to $3.00. They now have an “equal weight” rating on the stock.
• 12/11/2024 – Editas Medicine was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $4.00 price target on the stock, down previously from $7.00.
• 11/25/2024 – Editas Medicine was downgraded by analysts at Bank of America Co. from a “buy” rating to an “underperform” rating. They now have a $1.00 price target on the stock, down previously from $13.00.
• 11/6/2024 – Editas Medicine was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating.
• 11/5/2024 – Editas Medicine had its price target lowered by analysts at Royal Bank of Canada from $8.00 to $5.00. They now have a “sector perform” rating on the stock.
• 11/5/2024 – Editas Medicine had its price target lowered by analysts at Wells Fargo & Company from $9.00 to $7.00. They now have an “overweight” rating on the stock.
• 11/5/2024 – Editas Medicine had its price target lowered by analysts at Barclays PLC from $7.00 to $5.00. They now have an “equal weight” rating on the stock.
• 11/5/2024 – Editas Medicine had its “buy” rating reaffirmed by analysts at Chardan Capital. They now have a $12.00 price target on the stock.
• 11/5/2024 – Editas Medicine had its price target lowered by analysts at Stifel Nicolaus from $17.00 to $11.00. They now have a “buy” rating on the stock.
• 11/5/2024 – Editas Medicine had its price target lowered by analysts at Truist Financial Co. from $12.00 to $8.00. They now have a “buy” rating on the stock.
• 11/4/2024 – Editas Medicine was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.

Editas Medicine Stock Down 1.6 %

Shares of NASDAQ:EDIT opened at $1.21 on Monday. The business’s 50 day moving average is $2.37 and its 200 day moving average is $3.60. Editas Medicine, Inc. has a 12-month low of $1.16 and a 12-month high of $11.58. The stock has a market cap of $99.88 million, a price-to-earnings ratio of -0.47 and a beta of 1.86.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting the consensus estimate of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $3.93 million. During the same quarter last year, the business posted ($0.55) EPS. The company’s revenue for the quarter was down 98.9% on a year-over-year basis. As a group, equities research analysts expect that Editas Medicine, Inc. will post -2.59 earnings per share for the current year.

Institutional Investors Weigh In On Editas Medicine

Several large investors have recently made changes to their positions in the business. Millennium Management LLC increased its holdings in Editas Medicine by 10.0% during the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock worth $11,486,000 after buying an additional 223,012 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Editas Medicine by 133.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock worth $1,807,000 after purchasing an additional 302,652 shares during the last quarter. Integral Health Asset Management LLC raised its holdings in shares of Editas Medicine by 50.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock worth $3,152,000 after purchasing an additional 225,000 shares during the period. BNP Paribas Financial Markets lifted its stake in Editas Medicine by 37.3% in the third quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company’s stock valued at $187,000 after purchasing an additional 14,888 shares during the last quarter. Finally, FMR LLC lifted its stake in Editas Medicine by 110.7% in the third quarter. FMR LLC now owns 203,087 shares of the company’s stock valued at $693,000 after purchasing an additional 106,684 shares during the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.

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.