Editas Medicine (NASDAQ:EDIT) Stock Rating Upgraded by StockNews.com

Editas Medicine (NASDAQ:EDIT) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other research analysts have also recently weighed in on EDIT. Robert W. Baird cut their price objective on Editas Medicine from $8.00 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday. HC Wainwright started coverage on Editas Medicine in a research note on Monday, April 28th. They issued a “buy” rating and a $3.00 target price for the company. Finally, Cantor Fitzgerald raised Editas Medicine from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Editas Medicine has an average rating of “Hold” and an average target price of $5.36.

Editas Medicine Stock Up 1.1%

NASDAQ:EDIT opened at $1.40 on Wednesday. The stock’s 50-day simple moving average is $1.35 and its 200 day simple moving average is $1.67. Editas Medicine has a twelve month low of $0.91 and a twelve month high of $6.22. The firm has a market capitalization of $116.78 million, a PE ratio of -0.54 and a beta of 2.15.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.08. The company had revenue of $4.66 million during the quarter, compared to the consensus estimate of $0.79 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. During the same period last year, the company earned ($76.00) earnings per share. On average, analysts anticipate that Editas Medicine will post -2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

Several institutional investors have recently modified their holdings of the business. State of Wyoming purchased a new stake in Editas Medicine in the first quarter worth about $51,000. Ieq Capital LLC raised its position in Editas Medicine by 551.0% in the 1st quarter. Ieq Capital LLC now owns 160,370 shares of the company’s stock worth $186,000 after purchasing an additional 135,736 shares during the period. Nuveen LLC purchased a new position in shares of Editas Medicine during the first quarter worth approximately $367,000. Charles Schwab Investment Management Inc. boosted its position in Editas Medicine by 12.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 684,896 shares of the company’s stock valued at $794,000 after acquiring an additional 76,647 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Editas Medicine by 352.5% during the 1st quarter. XTX Topco Ltd now owns 475,381 shares of the company’s stock worth $551,000 after acquiring an additional 370,325 shares in the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.

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.