Editas Medicine, Inc. (NASDAQ:EDIT) Receives Average Recommendation of “Hold” from Analysts

Editas Medicine, Inc. (NASDAQ:EDIT) has earned a consensus rating of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.83.

Separately, HC Wainwright assumed coverage on shares of Editas Medicine in a research report on Monday. They set a “buy” rating and a $3.00 target price for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Editas Medicine by 46.9% in the third quarter. Barclays PLC now owns 178,507 shares of the company’s stock valued at $607,000 after purchasing an additional 56,986 shares in the last quarter. Green Alpha Advisors LLC boosted its holdings in shares of Editas Medicine by 157.6% in the 4th quarter. Green Alpha Advisors LLC now owns 111,628 shares of the company’s stock valued at $142,000 after buying an additional 68,295 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Editas Medicine by 18.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 267,758 shares of the company’s stock valued at $340,000 after buying an additional 41,002 shares during the last quarter. Thrive Wealth Management LLC acquired a new stake in Editas Medicine during the 4th quarter worth $36,000. Finally, SG Americas Securities LLC lifted its position in Editas Medicine by 103.7% in the fourth quarter. SG Americas Securities LLC now owns 81,669 shares of the company’s stock valued at $104,000 after acquiring an additional 41,573 shares during the last quarter. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Trading Down 4.3 %

NASDAQ:EDIT opened at $1.54 on Monday. The stock has a market cap of $128.91 million, a P/E ratio of -0.60 and a beta of 2.16. Editas Medicine has a 1-year low of $0.91 and a 1-year high of $6.69. The stock’s 50-day moving average is $1.48 and its 200-day moving average is $1.82.

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

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.