Editas Medicine (EDIT) – Research Analysts’ Weekly Ratings Updates

Editas Medicine (NASDAQ: EDIT) has recently received a number of price target changes and ratings updates:

  • 11/21/2022 – Editas Medicine had its price target lowered by analysts at Evercore ISI to $8.00.
  • 11/18/2022 – Editas Medicine had its price target lowered by analysts at Morgan Stanley from $10.00 to $8.00. They now have an “underweight” rating on the stock.
  • 11/18/2022 – Editas Medicine had its price target lowered by analysts at Royal Bank of Canada from $32.00 to $14.00. They now have a “sector perform” rating on the stock.
  • 11/18/2022 – Editas Medicine had its price target lowered by analysts at Robert W. Baird from $25.00 to $18.00. They now have an “outperform” rating on the stock.
  • 11/18/2022 – Editas Medicine had its price target lowered by analysts at Bank of America Co. from $18.00 to $15.00. They now have a “neutral” rating on the stock.
  • 11/18/2022 – Editas Medicine had its price target lowered by analysts at Truist Financial Co. from $80.00 to $35.00. They now have a “buy” rating on the stock.
  • 11/17/2022 – Editas Medicine was downgraded by analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating. They now have a $13.00 price target on the stock, down previously from $25.00.
  • 11/17/2022 – Editas Medicine was downgraded by analysts at Oppenheimer Holdings Inc. from an “outperform” rating to a “market perform” rating. They now have a $12.00 price target on the stock, down previously from $28.00.
  • 11/17/2022 – Editas Medicine had its price target lowered by analysts at SVB Leerink LLC from $14.00 to $7.00. They now have a “market perform” rating on the stock.
  • 11/17/2022 – Editas Medicine had its price target lowered by analysts at Chardan Capital from $43.00 to $35.00. They now have a “buy” rating on the stock.
  • 11/8/2022 – Editas Medicine had its price target lowered by analysts at Morgan Stanley from $15.00 to $10.00. They now have an “underweight” rating on the stock.
  • 11/3/2022 – Editas Medicine had its price target lowered by analysts at Royal Bank of Canada from $40.00 to $32.00. They now have a “sector perform” rating on the stock.
  • 11/3/2022 – Editas Medicine had its price target lowered by analysts at Robert W. Baird from $30.00 to $25.00. They now have an “outperform” rating on the stock.
  • 11/3/2022 – Editas Medicine had its price target lowered by analysts at SVB Leerink LLC from $14.00 to $12.00. They now have a “market perform” rating on the stock.
  • 11/2/2022 – Editas Medicine had its price target lowered by analysts at Chardan Capital from $60.00 to $43.00. They now have a “buy” rating on the stock.
  • 10/12/2022 – Editas Medicine is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
  • 9/29/2022 – Editas Medicine is now covered by analysts at Bank of America Co.. They set a “neutral” rating and a $18.00 price target on the stock.

Editas Medicine Stock Performance

NASDAQ:EDIT opened at $10.28 on Tuesday. The stock’s fifty day moving average price is $12.46 and its two-hundred day moving average price is $13.49. Editas Medicine, Inc. has a 52-week low of $9.59 and a 52-week high of $35.54. The company has a market cap of $706.88 million, a price-to-earnings ratio of -3.50 and a beta of 1.96.

Editas Medicine (NASDAQ:EDITGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.06. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $5.86 million. Editas Medicine had a negative return on equity of 41.33% and a negative net margin of 784.32%. On average, equities analysts predict that Editas Medicine, Inc. will post -3.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EDIT. State Street Corp lifted its stake in shares of Editas Medicine by 43.8% in the 2nd quarter. State Street Corp now owns 7,879,890 shares of the company’s stock valued at $93,219,000 after purchasing an additional 2,399,852 shares during the period. Woodline Partners LP lifted its stake in shares of Editas Medicine by 4,346.2% in the 2nd quarter. Woodline Partners LP now owns 1,016,891 shares of the company’s stock valued at $12,030,000 after purchasing an additional 994,020 shares during the period. BlackRock Inc. raised its stake in Editas Medicine by 15.5% during the 1st quarter. BlackRock Inc. now owns 6,275,270 shares of the company’s stock worth $119,355,000 after buying an additional 841,894 shares during the period. Renaissance Technologies LLC raised its stake in Editas Medicine by 296.1% during the 1st quarter. Renaissance Technologies LLC now owns 903,400 shares of the company’s stock worth $17,183,000 after buying an additional 675,300 shares during the period. Finally, PFM Health Sciences LP raised its stake in Editas Medicine by 103.1% during the 3rd quarter. PFM Health Sciences LP now owns 1,279,054 shares of the company’s stock worth $15,656,000 after buying an additional 649,370 shares during the period. Institutional investors and hedge funds own 68.77% of the company’s stock.

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 clinical trial for Leber Congenital Amaurosis 10 that leads to inherited childhood blindness.

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