The Goldman Sachs Group initiated coverage on shares of Editas Medicine (NASDAQ:EDIT) in a research report released on Thursday, Benzinga reports. The firm issued a sell rating and a $20.00 target price on the stock.
Several other brokerages have also commented on EDIT. Wells Fargo & Company boosted their target price on shares of Editas Medicine from $69.00 to $86.00 and gave the stock an overweight rating in a research report on Wednesday, January 13th. JPMorgan Chase & Co. restated a sell rating and set a $30.00 target price on shares of Editas Medicine in a research report on Sunday, February 28th. Raymond James lowered shares of Editas Medicine from an outperform rating to a market perform rating in a research report on Thursday, January 7th. Chardan Capital boosted their target price on shares of Editas Medicine from $55.00 to $77.00 and gave the stock a buy rating in a research report on Wednesday, February 10th. Finally, Morgan Stanley decreased their target price on shares of Editas Medicine from $45.00 to $40.00 and set an underweight rating on the stock in a research report on Monday, March 8th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $45.83.
NASDAQ:EDIT traded up $0.15 during midday trading on Thursday, reaching $36.44. The stock had a trading volume of 19,195 shares, compared to its average volume of 2,446,594. The firm has a fifty day simple moving average of $41.91 and a two-hundred day simple moving average of $48.90. Editas Medicine has a 12-month low of $21.41 and a 12-month high of $99.95. The stock has a market cap of $2.45 billion, a P/E ratio of -20.86 and a beta of 2.10.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Editas Medicine in the 4th quarter valued at approximately $47,163,000. Voloridge Investment Management LLC acquired a new position in shares of Editas Medicine in the 4th quarter valued at approximately $28,452,000. Great Lakes Advisors LLC acquired a new position in shares of Editas Medicine in the 4th quarter valued at approximately $26,643,000. State of Michigan Retirement System raised its position in shares of Editas Medicine by 156.1% during the 4th quarter. State of Michigan Retirement System now owns 502,274 shares of the company’s stock valued at $35,214,000 after acquiring an additional 306,132 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA raised its position in shares of Editas Medicine by 189,194.0% during the 1st quarter. Compagnie Lombard Odier SCmA now owns 189,294 shares of the company’s stock valued at $7,950,000 after acquiring an additional 189,194 shares in the last quarter. Hedge funds and other institutional investors own 87.52% 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 genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas. The company develops EDIT-101, which is in Phase 1/2 clinical trial for Leber Congenital Amaurosis type 10, a genetic form of vision loss that leads to blindness in childhood.
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