Editas Medicine, Inc. (NASDAQ:EDIT – Free Report) – Research analysts at Cantor Fitzgerald reduced their FY2024 earnings estimates for Editas Medicine in a research note issued to investors on Tuesday, November 5th. Cantor Fitzgerald analyst E. Schmidt now forecasts that the company will earn ($3.05) per share for the year, down from their previous forecast of ($2.96). The consensus estimate for Editas Medicine’s current full-year earnings is ($2.96) per share.
Editas Medicine (NASDAQ:EDIT – Get Free Report) last announced its earnings results on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 72.15%. The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $3.93 million. During the same period in the prior year, the business earned ($0.55) EPS. The company’s revenue for the quarter was down 98.9% compared to the same quarter last year.
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Editas Medicine Price Performance
EDIT stock opened at $3.12 on Friday. The stock has a market capitalization of $257.34 million, a P/E ratio of -1.22 and a beta of 2.01. Editas Medicine has a fifty-two week low of $2.70 and a fifty-two week high of $11.69. The business has a 50-day moving average of $3.39 and a 200-day moving average of $4.47.
Institutional Investors Weigh In On Editas Medicine
A number of institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Editas Medicine by 59.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 314,774 shares of the company’s stock worth $2,246,000 after buying an additional 116,803 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of Editas Medicine by 481.7% during the 1st quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock worth $70,000 after acquiring an additional 7,861 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Editas Medicine by 147.4% in the 1st quarter. Russell Investments Group Ltd. now owns 12,838 shares of the company’s stock valued at $95,000 after acquiring an additional 7,648 shares during the period. Vanguard Group Inc. raised its stake in Editas Medicine by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock valued at $63,483,000 after acquiring an additional 93,740 shares during the period. Finally, Shell Asset Management Co. lifted its holdings in Editas Medicine by 33.5% during the 1st quarter. Shell Asset Management Co. now owns 87,967 shares of the company’s stock valued at $653,000 after purchasing an additional 22,083 shares during the last quarter. 71.90% of the stock is owned by institutional investors.
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.
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