Editas Medicine, Inc. (NASDAQ:EDIT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have received an average rating of “Hold” from the fourteen analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $5.10.

EDIT has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Editas Medicine from $3.00 to $4.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 3rd. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Editas Medicine in a research report on Friday, September 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Editas Medicine in a research report on Friday. Wall Street Zen raised Editas Medicine from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Robert W. Baird upped their price target on Editas Medicine from $4.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, August 13th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Nuveen LLC purchased a new position in shares of Editas Medicine during the 1st quarter valued at $367,000. Wealth Enhancement Advisory Services LLC boosted its stake in Editas Medicine by 144.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,017 shares of the company’s stock worth $52,000 after purchasing an additional 26,601 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Editas Medicine by 45.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,781 shares of the company’s stock worth $40,000 after purchasing an additional 11,252 shares during the period. XTX Topco Ltd boosted its stake in Editas Medicine by 352.5% in the 1st quarter. XTX Topco Ltd now owns 475,381 shares of the company’s stock worth $551,000 after purchasing an additional 370,325 shares during the period. Finally, Ieq Capital LLC boosted its stake in Editas Medicine by 551.0% in the 1st quarter. Ieq Capital LLC now owns 160,370 shares of the company’s stock worth $186,000 after purchasing an additional 135,736 shares during the period. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Editas Medicine Price Performance

Shares of NASDAQ:EDIT opened at $3.72 on Monday. The company has a market capitalization of $334.50 million, a PE ratio of -1.31 and a beta of 2.18. The business has a fifty day moving average price of $3.18 and a two-hundred day moving average price of $2.45. Editas Medicine has a 1 year low of $0.91 and a 1 year high of $4.54.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.22). The business had revenue of $3.58 million during the quarter, compared to the consensus estimate of $1.81 million. Editas Medicine had a negative net margin of 608.88% and a negative return on equity of 200.25%. Sell-side analysts anticipate that Editas Medicine will post -2.71 earnings per share for the current year.

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.