Editas Medicine (NASDAQ:EDIT) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Editas Medicine (NASDAQ:EDIT) from a sell rating to a hold rating in a research note released on Friday morning.

A number of other analysts have also issued reports on EDIT. Wells Fargo & Company raised their target price on Editas Medicine from $3.00 to $4.00 and gave the company an “equal weight” rating in a report on Wednesday, September 3rd. Robert W. Baird upped their price objective on Editas Medicine from $4.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Finally, HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Editas Medicine in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.10.

Editas Medicine Price Performance

Shares of NASDAQ EDIT opened at $3.24 on Friday. Editas Medicine has a 1-year low of $0.91 and a 1-year high of $3.80. The business’s fifty day moving average price is $2.77 and its two-hundred day moving average price is $2.10. The firm has a market capitalization of $291.34 million, a PE ratio of -1.14 and a beta of 2.16.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.22). Editas Medicine had a negative return on equity of 200.25% and a negative net margin of 608.88%.The business had revenue of $3.58 million during the quarter, compared to the consensus estimate of $1.81 million. Equities research analysts expect that Editas Medicine will post -2.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

A number of hedge funds have recently modified their holdings of EDIT. State of Wyoming raised its holdings in Editas Medicine by 49.8% during the 2nd quarter. State of Wyoming now owns 66,427 shares of the company’s stock valued at $146,000 after acquiring an additional 22,069 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Editas Medicine by 279.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 31,938 shares of the company’s stock worth $70,000 after purchasing an additional 23,513 shares during the period. Captrust Financial Advisors purchased a new stake in shares of Editas Medicine during the second quarter worth about $26,000. Bridgeway Capital Management LLC raised its stake in Editas Medicine by 500.0% in the second quarter. Bridgeway Capital Management LLC now owns 120,000 shares of the company’s stock worth $264,000 after buying an additional 100,000 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its stake in Editas Medicine by 7.8% in the second quarter. Kennedy Capital Management LLC now owns 567,619 shares of the company’s stock worth $1,249,000 after buying an additional 40,879 shares in the last quarter. Institutional investors own 71.90% of the company’s stock.

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.