Editas Medicine (NASDAQ:EDIT) Upgraded at Chardan Capital

Chardan Capital upgraded shares of Editas Medicine (NASDAQ:EDIT) from a hold rating to a strong-buy rating in a report published on Thursday,Zacks.com reports.

Several other equities research analysts also recently issued reports on EDIT. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Editas Medicine in a research note on Friday, September 5th. Wall Street Zen upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Robert W. Baird upped their price target on shares of Editas Medicine from $4.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Editas Medicine in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upped their target price on Editas Medicine from $3.00 to $4.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.88.

Editas Medicine Price Performance

Editas Medicine stock opened at $2.60 on Thursday. The company has a market cap of $253.81 million, a price-to-earnings ratio of -1.09 and a beta of 2.23. Editas Medicine has a 12 month low of $0.91 and a 12 month high of $4.54. The stock’s 50-day moving average is $3.23 and its 200-day moving average is $2.62.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Monday, November 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.10. The business had revenue of $7.54 million during the quarter, compared to analysts’ expectations of $4.95 million. Editas Medicine had a negative return on equity of 277.29% and a negative net margin of 430.84%. Research analysts anticipate that Editas Medicine will post -2.71 EPS for the current year.

Institutional Trading of Editas Medicine

Large investors have recently modified their holdings of the business. Cerity Partners LLC acquired a new position in shares of Editas Medicine in the first quarter worth about $57,000. CWM LLC increased its holdings in Editas Medicine by 218.7% during the 1st quarter. CWM LLC now owns 47,296 shares of the company’s stock worth $55,000 after purchasing an additional 32,455 shares during the last quarter. XTX Topco Ltd raised its position in shares of Editas Medicine by 352.5% in the 1st quarter. XTX Topco Ltd now owns 475,381 shares of the company’s stock valued at $551,000 after purchasing an additional 370,325 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Editas Medicine by 12.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 684,896 shares of the company’s stock valued at $794,000 after purchasing an additional 76,647 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Editas Medicine during the 1st quarter valued at approximately $367,000. 71.90% of the stock is currently owned by institutional investors and hedge funds.

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.