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

Shares of Editas Medicine, Inc. (NASDAQ:EDITGet Free Report) have received an average recommendation of “Hold” from the eleven research firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $13.27.

Several research firms recently issued reports on EDIT. Evercore ISI dropped their price objective on Editas Medicine from $15.00 to $7.00 and set an “in-line” rating for the company in a research note on Thursday, May 30th. JPMorgan Chase & Co. lifted their price objective on Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Barclays dropped their price target on Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Citigroup dropped their price target on Editas Medicine from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, StockNews.com lowered Editas Medicine from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th.

Get Our Latest Stock Analysis on Editas Medicine

Editas Medicine Price Performance

NASDAQ:EDIT opened at $5.30 on Monday. The company has a market capitalization of $435.87 million, a P/E ratio of -2.52 and a beta of 2.06. Editas Medicine has a 1 year low of $4.91 and a 1 year high of $11.91. The business has a fifty day simple moving average of $5.78 and a two-hundred day simple moving average of $7.86.

Editas Medicine (NASDAQ:EDITGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.13). The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $11.14 million. Editas Medicine had a negative net margin of 239.36% and a negative return on equity of 47.34%. Editas Medicine’s revenue for the quarter was down 88.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.71) earnings per share. As a group, analysts anticipate that Editas Medicine will post -2.7 earnings per share for the current year.

Insider Activity at Editas Medicine

In other Editas Medicine news, Director Jessica Hopfield purchased 45,000 shares of Editas Medicine stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $5.64 per share, for a total transaction of $253,800.00. Following the acquisition, the director now directly owns 67,700 shares in the company, valued at $381,828. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jessica Hopfield bought 45,000 shares of Editas Medicine stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $5.64 per share, for a total transaction of $253,800.00. Following the acquisition, the director now owns 67,700 shares of the company’s stock, valued at $381,828. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gilmore Neil O’neill sold 12,191 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $5.50, for a total value of $67,050.50. Following the transaction, the chief executive officer now owns 315,279 shares in the company, valued at approximately $1,734,034.50. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Editas Medicine

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EDIT. Principal Financial Group Inc. lifted its holdings in shares of Editas Medicine by 27.4% during the 3rd quarter. Principal Financial Group Inc. now owns 24,197 shares of the company’s stock valued at $189,000 after buying an additional 5,202 shares during the period. Arizona State Retirement System lifted its holdings in shares of Editas Medicine by 19.8% during the 3rd quarter. Arizona State Retirement System now owns 23,213 shares of the company’s stock valued at $181,000 after buying an additional 3,841 shares during the period. Jump Financial LLC lifted its holdings in shares of Editas Medicine by 42.0% during the 3rd quarter. Jump Financial LLC now owns 19,830 shares of the company’s stock valued at $155,000 after buying an additional 5,866 shares during the period. Amalgamated Bank lifted its holdings in shares of Editas Medicine by 18.0% during the 3rd quarter. Amalgamated Bank now owns 8,023 shares of the company’s stock valued at $63,000 after buying an additional 1,226 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Editas Medicine by 1.1% during the 3rd quarter. Swiss National Bank now owns 179,200 shares of the company’s stock valued at $1,398,000 after buying an additional 1,900 shares during the period. 71.90% of the stock is owned by institutional investors.

Editas Medicine Company Profile

(Get Free Report

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.

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Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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