Brokerages Set Editas Medicine, Inc. (NASDAQ:EDIT) Target Price at $5.40

by · The Cerbat Gem

Editas Medicine, Inc. (NASDAQ:EDIT – Get Free Report) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $5.40.

A number of equities analysts recently issued reports on EDIT shares. Chardan Capital raised their target price on Editas Medicine from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Wall Street Zen downgraded Editas Medicine from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Editas Medicine in a report on Friday, July 17th. Finally, TD Cowen restated a “buy” rating on shares of Editas Medicine in a research note on Wednesday, May 27th.

View Our Latest Analysis on Editas Medicine

Insiders Place Their Bets

In related news, CEO Gilmore Neil O’neill sold 15,380 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $2.70, for a total value of $41,526.00. Following the transaction, the chief executive officer owned 248,313 shares in the company, valued at approximately $670,445.10. This represents a 5.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 16,575 shares of company stock valued at $44,752. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Editas Medicine

Several large investors have recently made changes to their positions in EDIT. Captrust Financial Advisors purchased a new position in shares of Editas Medicine during the 2nd quarter valued at about $26,000. StoneX Group Inc. acquired a new position in shares of Editas Medicine in the 4th quarter valued at $33,000. Abel Hall LLC acquired a new position in shares of Editas Medicine in the 1st quarter valued at $36,000. Victory Capital Management Inc. purchased a new stake in Editas Medicine during the third quarter worth $36,000. Finally, State of Wyoming purchased a new stake in Editas Medicine during the first quarter worth $43,000. 71.90% of the stock is owned by hedge funds and other institutional investors.

Editas Medicine Trading Down 4.8%

Shares of Editas Medicine stock opened at $2.60 on Wednesday. The firm’s 50 day simple moving average is $2.94 and its two-hundred day simple moving average is $2.60. The firm has a market capitalization of $254.57 million, a price-to-earnings ratio of -2.11 and a beta of 2.10. Editas Medicine has a 12-month low of $1.66 and a 12-month high of $4.54.

Editas Medicine (NASDAQ:EDIT – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.04. The business had revenue of $2.83 million during the quarter, compared to the consensus estimate of $6.37 million. Editas Medicine had a negative net margin of 281.59% and a negative return on equity of 677.39%. On average, sell-side analysts predict that Editas Medicine will post -1.03 EPS for the current fiscal year.

Editas Medicine Company Profile

(Get Free Report)

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.

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