Editas Medicine’s (EDIT) Neutral Rating Reaffirmed at Chardan Capital

Chardan Capital reiterated their neutral rating on shares of Editas Medicine (NASDAQ:EDIT) in a research note issued to investors on Friday morning, MarketBeat.com reports.

Several other equities research analysts have also recently issued reports on EDIT. Evercore ISI raised shares of Editas Medicine from an “in-line” rating to an “outperform” rating in a research report on Wednesday, November 6th. Stifel Nicolaus lowered Editas Medicine from a “buy” rating to a “hold” rating and lowered their price target for the company from $11.00 to $3.00 in a report on Friday. Barclays dropped their price objective on Editas Medicine from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company lowered Editas Medicine from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $7.00 to $4.00 in a research report on Wednesday, December 11th. Finally, Raymond James lowered Editas Medicine from an “outperform” rating to a “market perform” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.85.

Editas Medicine Stock Performance

Shares of NASDAQ EDIT opened at $1.44 on Friday. Editas Medicine has a fifty-two week low of $1.41 and a fifty-two week high of $11.58. The company has a market cap of $118.87 million, a price-to-earnings ratio of -0.56 and a beta of 1.86. The business’s 50 day moving average price is $2.76 and its 200-day moving average price is $3.89.

Editas Medicine (NASDAQ:EDIT) last released 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 return on equity of 80.13% and a negative net margin of 340.96%. The business had revenue of $0.06 million for the quarter, compared to analyst estimates of $3.93 million. During the same quarter last year, the firm posted ($0.55) earnings per share. The business’s revenue was down 98.9% compared to the same quarter last year. Sell-side analysts predict that Editas Medicine will post -2.59 earnings per share for the current year.

Institutional Trading of Editas Medicine

A number of institutional investors have recently made changes to their positions in the business. Signaturefd LLC raised its stake in Editas Medicine by 494.8% in the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock valued at $32,000 after buying an additional 7,758 shares during the last quarter. Koss Olinger Consulting LLC purchased a new position in shares of Editas Medicine in the 2nd quarter valued at approximately $47,000. Ballentine Partners LLC acquired a new stake in Editas Medicine in the 3rd quarter worth approximately $36,000. Arcadia Investment Management Corp MI purchased a new stake in Editas Medicine during the 3rd quarter worth approximately $39,000. Finally, Hoylecohen LLC acquired a new position in Editas Medicine during the 2nd quarter valued at approximately $55,000. 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.