Shares of Editas Medicine, Inc. (NASDAQ:EDIT – Get Free Report) have earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $5.83.
A number of equities analysts recently weighed in on the stock. Guggenheim raised shares of Editas Medicine from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Wednesday, September 23rd. Wall Street Zen upgraded Editas Medicine from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company raised Editas Medicine from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $4.00 to $6.00 in a research report on Thursday, October 8th. Weiss Ratings raised Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, LADENBURG THALM/SH SH started coverage on Editas Medicine in a research report on Tuesday, August 18th. They set a “buy” rating and a $6.00 price target for the company.
Check Out Our Latest Stock Analysis on EDIT
Editas Medicine Trading Up 1.2%
Shares of NASDAQ:EDIT opened at $2.60 on Friday. The firm’s 50 day simple moving average is $2.74 and its 200 day simple moving average is $2.68. Editas Medicine has a fifty-two week low of $1.66 and a fifty-two week high of $3.94.
Editas Medicine (NASDAQ:EDIT – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.12. The company had revenue of $11.89 million during the quarter, compared to the consensus estimate of $2.85 million. Editas Medicine had a negative net margin of 157.32% and a negative return on equity of 196.63%. Sell-side analysts predict that Editas Medicine will post -0.80 EPS for the current year.
Institutional Trading of Editas Medicine
A number of institutional investors have recently made changes to their positions in EDIT. Profund Advisors LLC acquired a new stake in Editas Medicine in the 3rd quarter valued at $168,000. ProShare Advisors LLC boosted its stake in shares of Editas Medicine by 37.9% during the 3rd quarter. ProShare Advisors LLC now owns 25,019 shares of the company’s stock worth $64,000 after buying an additional 6,882 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Editas Medicine by 44.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 64,022 shares of the company’s stock valued at $166,000 after purchasing an additional 19,598 shares during the last quarter. Opaleye Management Inc. grew its stake in Editas Medicine by 100.4% in the second quarter. Opaleye Management Inc. now owns 3,861,930 shares of the company’s stock valued at $12,513,000 after purchasing an additional 1,934,933 shares in the last quarter. Finally, Corient Private Wealth LP bought a new position in Editas Medicine in the second quarter valued at approximately $80,000. Institutional investors own 71.90% of the company’s stock.
About Editas Medicine
Editas Medicine, Inc is a biotechnology company focused on developing genomic medicines using CRISPR-based gene-editing technologies. The company’s research platforms include CRISPR/Cas9 and CRISPR/Cas12a, which are designed to make precise changes to DNA and potentially treat diseases caused by genetic abnormalities.
Editas Medicine’s lead investigational program is reni-cel, formerly known as EDIT-301. Reni-cel is an ex vivo gene-editing therapy intended to treat sickle cell disease and transfusion-dependent beta thalassemia by modifying a patient’s blood-forming stem cells before they are returned to the body.
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