Editas Medicine, Inc. (NASDAQ:EDIT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $15.00.

Several research firms have recently issued reports on EDIT. StockNews.com raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Barclays raised their price target on shares of Editas Medicine from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Citigroup raised their price target on shares of Editas Medicine from $11.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th.

Editas Medicine Stock Down 1.1 %

Editas Medicine stock opened at $5.49 on Friday. Editas Medicine has a 52-week low of $5.28 and a 52-week high of $11.91. The firm has a fifty day moving average of $7.78 and a 200-day moving average of $8.37. The firm has a market capitalization of $451.50 million, a P/E ratio of -2.68 and a beta of 2.01.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.29. Editas Medicine had a negative net margin of 196.12% and a negative return on equity of 42.95%. The company had revenue of $60.00 million during the quarter, compared to analyst estimates of $4.84 million. During the same quarter in the prior year, the business earned ($0.88) earnings per share. The business’s quarterly revenue was up 817.4% compared to the same quarter last year. On average, research analysts expect that Editas Medicine will post -2.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Editas Medicine news, CEO Gilmore Neil O’neill sold 77,824 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $9.42, for a total transaction of $733,102.08. Following the completion of the transaction, the chief executive officer now directly owns 327,470 shares of the company’s stock, valued at approximately $3,084,767.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Editas Medicine news, SVP Baisong Mei sold 20,327 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.42, for a total transaction of $191,480.34. Following the completion of the transaction, the senior vice president now directly owns 141,543 shares of the company’s stock, valued at approximately $1,333,335.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gilmore Neil O’neill sold 77,824 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total transaction of $733,102.08. Following the completion of the transaction, the chief executive officer now owns 327,470 shares in the company, valued at $3,084,767.40. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Editas Medicine by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock worth $66,582,000 after buying an additional 370,734 shares during the last quarter. State Street Corp lifted its position in shares of Editas Medicine by 43.8% in the 2nd quarter. State Street Corp now owns 7,879,890 shares of the company’s stock worth $93,219,000 after buying an additional 2,399,852 shares during the last quarter. BlackRock Inc. lifted its position in shares of Editas Medicine by 2.4% in the 2nd quarter. BlackRock Inc. now owns 7,595,696 shares of the company’s stock worth $62,513,000 after buying an additional 177,334 shares during the last quarter. Woodline Partners LP lifted its position in shares of Editas Medicine by 3.9% in the 2nd quarter. Woodline Partners LP now owns 2,749,305 shares of the company’s stock worth $22,627,000 after buying an additional 102,685 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Editas Medicine by 40.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,392,396 shares of the company’s stock valued at $24,236,000 after purchasing an additional 690,366 shares during the last quarter. 71.90% of the stock is currently owned by institutional investors.

About Editas Medicine

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.