Editas Medicine, Inc. (NASDAQ:EDIT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $5.00.

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Editas Medicine in a research note on Wednesday, January 21st. Chardan Capital upgraded shares of Editas Medicine from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th.

Editas Medicine Stock Performance

Shares of Editas Medicine stock opened at $1.79 on Friday. The stock has a market cap of $174.74 million, a price-to-earnings ratio of -0.75 and a beta of 2.15. The stock has a 50 day moving average price of $2.05 and a 200-day moving average price of $2.61. Editas Medicine has a one year low of $0.91 and a one year high of $4.54.

Hedge Funds Weigh In On Editas Medicine

A number of large investors have recently bought and sold shares of the business. Captrust Financial Advisors bought a new stake in shares of Editas Medicine during the second quarter worth $26,000. StoneX Group Inc. bought a new position in Editas Medicine in the 4th quarter worth about $33,000. Victory Capital Management Inc. bought a new stake in shares of Editas Medicine during the third quarter valued at approximately $36,000. R Squared Ltd purchased a new stake in shares of Editas Medicine in the second quarter valued at approximately $45,000. Finally, Sei Investments Co. bought a new position in Editas Medicine in the third quarter worth approximately $46,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

About Editas Medicine

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.