Analysts Set Editas Medicine, Inc. (NASDAQ:EDIT) Price Target at $7.00

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have received a consensus rating of “Hold” from the fourteen brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $7.00.

EDIT has been the subject of several recent analyst reports. Evercore ISI reduced their price objective on shares of Editas Medicine from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Stifel Nicolaus downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating and reduced their price target for the company from $11.00 to $3.00 in a research report on Friday, December 13th. Robert W. Baird dropped their price objective on shares of Editas Medicine from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Friday, December 13th. JPMorgan Chase & Co. cut shares of Editas Medicine from a “neutral” rating to an “underweight” rating in a research note on Monday, December 16th. Finally, Truist Financial cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research note on Friday, December 13th.

Institutional Trading of Editas Medicine

Large investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. lifted its stake in Editas Medicine by 133.2% during the third 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. Barclays PLC lifted its stake in Editas Medicine by 46.9% during the third quarter. Barclays PLC now owns 178,507 shares of the company’s stock worth $607,000 after purchasing an additional 56,986 shares during the last quarter. 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 buying an additional 14,888 shares during the last quarter. 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 buying an additional 106,684 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Editas Medicine in the third quarter valued at $240,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Stock Performance

Shares of EDIT stock opened at $1.38 on Friday. The stock has a market capitalization of $113.92 million, a P/E ratio of -0.54 and a beta of 1.94. The company has a 50 day moving average price of $1.34 and a 200 day moving average price of $2.62. Editas Medicine has a fifty-two week low of $1.12 and a fifty-two week high of $11.58.

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.