Editas Medicine, Inc. (NASDAQ:EDIT) Receives $5.36 Average Price Target from Analysts

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

A number of brokerages recently weighed in on EDIT. Cantor Fitzgerald raised shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 29th. HC Wainwright began coverage on Editas Medicine in a research note on Monday, April 28th. They issued a "buy" rating and a $3.00 target price for the company. Wall Street Zen raised Editas Medicine from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Robert W. Baird lowered their price objective 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.

Editas Medicine Stock Up 7.4%

EDIT traded up $0.12 during trading on Friday, hitting $1.67. The company's stock had a trading volume of 2,003,391 shares, compared to its average volume of 2,567,725. The firm's 50 day moving average price is $1.37 and its two-hundred day moving average price is $1.57. The stock has a market capitalization of $139.38 million, a price-to-earnings 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.

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

Institutional Investors Weigh In On Editas Medicine

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in shares of Editas Medicine during the fourth quarter worth $1,843,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Editas Medicine by 122.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company's stock valued at $3,016,000 after purchasing an additional 1,430,000 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of Editas Medicine by 647.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company's stock valued at $1,652,000 after purchasing an additional 1,126,569 shares during the period. Monaco Asset Management SAM bought a new stake in Editas Medicine during the 4th quarter worth approximately $1,359,000. Finally, Acadian Asset Management LLC raised its holdings in Editas Medicine by 288.5% during the 1st quarter. Acadian Asset Management LLC now owns 752,162 shares of the company's stock worth $869,000 after buying an additional 558,567 shares during the period. Institutional investors 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.