Editas Medicine (NASDAQ:EDIT) Stock Rating Upgraded by Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Editas Medicine (NASDAQ:EDIT – Free Report) from a sell rating to a hold rating in a research note issued to investors on Friday.

A number of other equities research analysts have also commented on the company. Robert W. Baird lowered their price target on Editas Medicine from $8.00 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Cantor Fitzgerald raised Editas Medicine from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 29th. Finally, HC Wainwright initiated coverage on Editas Medicine in a research report on Monday, April 28th. They issued a “buy” rating and a $3.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Editas Medicine presently has a consensus rating of “Hold” and a consensus target price of $4.70.

Get Our Latest Report on EDIT

Editas Medicine Stock Up 7.5%

Shares of NASDAQ:EDIT opened at $2.28 on Friday. Editas Medicine has a twelve month low of $0.91 and a twelve month high of $6.05. The stock’s 50 day moving average is $1.76 and its 200-day moving average is $1.52. The firm has a market capitalization of $190.86 million, a price-to-earnings ratio of -0.75 and a beta of 2.10.

Editas Medicine (NASDAQ:EDIT – Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.08. Editas Medicine had a negative return on equity of 139.24% and a negative net margin of 701.06%. The company had revenue of $4.66 million for the quarter, compared to analyst estimates of $0.79 million. During the same period in the prior year, the firm earned ($76.00) earnings per share. Equities research analysts anticipate that Editas Medicine will post -2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gilmore Neil O’neill sold 15,192 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $1.72, for a total transaction of $26,130.24. Following the sale, the chief executive officer now owns 280,282 shares of the company’s stock, valued at approximately $482,085.04. This represents a 5.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 16,364 shares of company stock valued at $28,146. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Editas Medicine

A number of institutional investors have recently added to or reduced their stakes in EDIT. Ieq Capital LLC purchased a new stake in shares of Editas Medicine in the 4th quarter valued at about $31,000. Dark Forest Capital Management LP raised its holdings in shares of Editas Medicine by 66.9% in the 4th quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company’s stock valued at $42,000 after acquiring an additional 13,138 shares in the last quarter. Brave Asset Management Inc. raised its holdings in shares of Editas Medicine by 250.0% in the 1st quarter. Brave Asset Management Inc. now owns 35,000 shares of the company’s stock valued at $41,000 after acquiring an additional 25,000 shares in the last quarter. SCS Capital Management LLC purchased a new stake in shares of Editas Medicine in the 1st quarter valued at about $41,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Editas Medicine by 45.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,781 shares of the company’s stock valued at $40,000 after acquiring an additional 11,252 shares in the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

About Editas Medicine

(Get Free Report)

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.

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