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

Editas Medicine, Inc. (NASDAQ:EDIT) has earned an average rating of “Hold” from the thirteen analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $7.92.

EDIT has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Editas Medicine from $9.00 to $7.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Stifel Nicolaus lowered their price target on shares of Editas Medicine from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Bank of America cut shares of Editas Medicine from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $13.00 to $1.00 in a research note on Monday, November 25th. Royal Bank of Canada lowered their price target on shares of Editas Medicine from $8.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 5th. Finally, Evercore ISI raised shares of Editas Medicine from an “in-line” rating to an “outperform” rating in a research note on Wednesday, November 6th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Signaturefd LLC raised its holdings in Editas Medicine by 494.8% in the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock valued at $32,000 after buying an additional 7,758 shares during the period. Koss Olinger Consulting LLC acquired a new stake in Editas Medicine in the second quarter valued at approximately $47,000. Ballentine Partners LLC acquired a new stake in Editas Medicine in the third quarter valued at approximately $36,000. Arcadia Investment Management Corp MI acquired a new stake in Editas Medicine in the third quarter valued at approximately $39,000. Finally, Hoylecohen LLC acquired a new stake in Editas Medicine in the second quarter valued at approximately $55,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Editas Medicine Price Performance

EDIT stock opened at $2.24 on Monday. The company has a fifty day moving average price of $3.04 and a 200 day moving average price of $4.15. Editas Medicine has a 12 month low of $2.13 and a 12 month high of $11.69. The company has a market cap of $184.91 million, a price-to-earnings ratio of -0.88 and a beta of 2.01.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting the consensus estimate of ($0.75). The firm had revenue of $0.06 million during the quarter, compared to the consensus estimate of $3.93 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. Editas Medicine’s revenue for the quarter was down 98.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.55) EPS. As a group, analysts anticipate that Editas Medicine will post -2.63 earnings per share 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.