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

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have been given an average rating of “Hold” by the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $6.83.

EDIT has been the topic of a number of recent research reports. Robert W. Baird dropped their price target on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating on the stock in a research report on Friday, December 13th. Barclays dropped their price target on 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 cut Editas Medicine from a “buy” rating to a “hold” rating and dropped their price target for the company from $11.00 to $3.00 in a research report on Friday, December 13th. Truist Financial cut Editas Medicine from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, Evercore ISI dropped their price target on Editas Medicine from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th.

Editas Medicine Trading Up 6.6 %

EDIT stock opened at $1.46 on Wednesday. The stock’s fifty day simple moving average is $1.50 and its two-hundred day simple moving average is $2.32. Editas Medicine has a 1-year low of $1.12 and a 1-year high of $8.44. The stock has a market cap of $121.14 million, a P/E ratio of -0.57 and a beta of 1.88.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.16). Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The business had revenue of $30.60 million during the quarter, compared to analysts’ expectations of $37.17 million. During the same period in the prior year, the firm posted ($0.23) EPS. As a group, analysts forecast that Editas Medicine will post -2.71 earnings per share for the current fiscal year.

Institutional Trading of Editas Medicine

Several institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Advisers LP raised its holdings in shares of Editas Medicine by 46.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,657,000 shares of the company’s stock valued at $2,104,000 after acquiring an additional 528,000 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Editas Medicine by 21.4% in the 4th quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company’s stock valued at $2,094,000 after acquiring an additional 290,483 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Editas Medicine in the 4th quarter valued at about $1,843,000. Balyasny Asset Management L.P. raised its holdings in shares of Editas Medicine by 647.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company’s stock valued at $1,652,000 after acquiring an additional 1,126,569 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Editas Medicine by 30.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,170,000 shares of the company’s stock valued at $1,486,000 after buying an additional 272,467 shares in the last quarter. Hedge funds and other institutional investors own 71.90% 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 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.