Brokerages Set Editas Medicine, Inc. (NASDAQ:EDIT) Target Price at $7.00

Editas Medicine, Inc. (NASDAQ:EDIT) has been given a consensus recommendation of “Hold” by the fourteen analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $7.00.

Several research firms recently commented on EDIT. Barclays cut their target price on shares of Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Stifel Nicolaus lowered shares of Editas Medicine from a “buy” rating to a “hold” rating and lowered their price target for the stock from $11.00 to $3.00 in a report on Friday, December 13th. Truist Financial lowered shares of Editas Medicine from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Chardan Capital restated a “neutral” rating on shares of Editas Medicine in a report on Friday, December 13th. Finally, Evercore ISI lowered their price objective 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.

Editas Medicine Price Performance

NASDAQ:EDIT opened at $1.92 on Friday. The firm’s 50 day simple moving average is $1.37 and its 200 day simple moving average is $2.58. Editas Medicine has a one year low of $1.12 and a one year high of $11.58. The company has a market cap of $158.08 million, a PE ratio of -0.75 and a beta of 1.94.

Institutional Trading of Editas Medicine

Several hedge funds have recently bought and sold shares of EDIT. Ieq Capital LLC purchased a new position in Editas Medicine during the 4th quarter worth $31,000. Signaturefd LLC boosted its holdings in Editas Medicine by 494.8% during the 3rd quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock worth $32,000 after acquiring an additional 7,758 shares during the last quarter. Ballentine Partners LLC purchased a new position in Editas Medicine during the 3rd quarter worth $36,000. Thrive Wealth Management LLC purchased a new position in Editas Medicine during the 4th quarter worth $36,000. Finally, Arcadia Investment Management Corp MI purchased a new position in Editas Medicine during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

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.