Editas Medicine, Inc. (NASDAQ:EDIT) Given Average Rating of “Hold” by Brokerages

Editas Medicine, Inc. (NASDAQ:EDIT) has earned an average recommendation of “Hold” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $7.00.

A number of brokerages recently weighed in on EDIT. Robert W. Baird decreased their price target on shares of Editas Medicine from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. Evercore ISI decreased their target price on shares of Editas Medicine from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Stifel Nicolaus downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating and dropped their price target for the stock from $11.00 to $3.00 in a research note on Friday, December 13th. Barclays cut their price objective on shares of Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Finally, Chardan Capital restated a “neutral” rating on shares of Editas Medicine in a research note on Friday, December 13th.

Institutional Trading of Editas Medicine

Several institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC increased its holdings in shares of Editas Medicine by 494.8% in the 3rd quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock valued at $32,000 after acquiring an additional 7,758 shares during the last quarter. Ballentine Partners LLC acquired a new position in Editas Medicine in the third quarter worth $36,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Editas Medicine during the third quarter worth $39,000. Koss Olinger Consulting LLC bought a new position in shares of Editas Medicine in the 2nd quarter worth about $47,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Editas Medicine in the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Stock Up 3.1 %

Shares of NASDAQ EDIT opened at $1.31 on Friday. The stock has a market capitalization of $108.14 million, a PE ratio of -0.51 and a beta of 1.87. The firm has a fifty day moving average of $2.20 and a 200-day moving average of $3.51. Editas Medicine has a 52-week low of $1.16 and a 52-week high of $11.58.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, hitting the consensus estimate of ($0.75). The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $3.93 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The firm’s revenue was down 98.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.55) earnings per share. Equities research analysts expect that Editas Medicine will post -2.59 EPS for the current fiscal year.

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.