Brokerages Set Editas Medicine, Inc. (NASDAQ:EDIT) Price Target at $5.36

Shares of Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) have received an average recommendation of "Hold" from the fourteen analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $5.36.

Several research firms have recently issued reports on EDIT. Wall Street Zen raised Editas Medicine from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Robert W. Baird cut their price target on Editas Medicine from $8.00 to $4.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Cantor Fitzgerald raised Editas Medicine from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 29th. Finally, HC Wainwright initiated coverage on Editas Medicine in a research note on Monday, April 28th. They issued a "buy" rating and a $3.00 target price on the stock.

Editas Medicine Trading Up 1.5%

NASDAQ EDIT traded up $0.03 on Friday, hitting $1.68. 231,370 shares of the company were exchanged, compared to its average volume of 2,560,635. The company has a market cap of $140.22 million, a PE ratio of -0.65 and a beta of 2.15. Editas Medicine has a 12 month low of $0.91 and a 12 month high of $6.22. The stock has a fifty day moving average of $1.37 and a 200-day moving average of $1.57.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.43) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.08. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The company had revenue of $4.66 million for the quarter, compared to analysts' expectations of $0.79 million. During the same period in the previous year, the business posted ($76.00) EPS. On average, analysts expect that Editas Medicine will post -2.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Ieq Capital LLC acquired a new stake in Editas Medicine in the fourth quarter valued at approximately $31,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Editas Medicine by 45.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,781 shares of the company's stock worth $40,000 after purchasing an additional 11,252 shares during the last quarter. Brave Asset Management Inc. grew its position in shares of Editas Medicine by 250.0% during the first quarter. Brave Asset Management Inc. now owns 35,000 shares of the company's stock worth $41,000 after acquiring an additional 25,000 shares during the last quarter. SCS Capital Management LLC purchased a new position in shares of Editas Medicine during the first quarter worth approximately $41,000. Finally, Dark Forest Capital Management LP grew its position in shares of Editas Medicine by 66.9% during the fourth quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company's stock worth $42,000 after acquiring an additional 13,138 shares during the last quarter. Institutional investors and hedge funds own 71.90% of the company's stock.

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.