Editas Medicine, Inc. (NASDAQ:EDIT) Receives $6.83 Consensus Target Price from Analysts

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) has received an average recommendation of "Hold" from the sixteen analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $6.54.

A number of research analysts have issued reports on the stock. Cantor Fitzgerald raised shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a report on Tuesday. HC Wainwright started coverage on Editas Medicine in a research note on Monday, April 28th. They issued a "buy" rating and a $3.00 price objective for the company.

Institutional Trading of Editas Medicine

A number of hedge funds have recently bought and sold shares of EDIT. Barclays PLC boosted its holdings in shares of Editas Medicine by 46.9% during the third quarter. Barclays PLC now owns 178,507 shares of the company's stock worth $607,000 after purchasing an additional 56,986 shares during the last quarter. Green Alpha Advisors LLC boosted its stake in Editas Medicine by 157.6% in the 4th quarter. Green Alpha Advisors LLC now owns 111,628 shares of the company's stock worth $142,000 after buying an additional 68,295 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Editas Medicine by 18.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 267,758 shares of the company's stock valued at $340,000 after buying an additional 41,002 shares during the period. Thrive Wealth Management LLC acquired a new position in shares of Editas Medicine during the 4th quarter valued at about $36,000. Finally, SG Americas Securities LLC boosted its position in shares of Editas Medicine by 103.7% in the fourth quarter. SG Americas Securities LLC now owns 81,669 shares of the company's stock worth $104,000 after acquiring an additional 41,573 shares during the last quarter. Institutional investors and hedge funds own 71.90% of the company's stock.

Editas Medicine Trading Up 1.2 %

Shares of EDIT traded up $0.02 during mid-day trading on Monday, hitting $1.64. The company's stock had a trading volume of 1,874,744 shares, compared to its average volume of 2,579,963. Editas Medicine has a 1-year low of $0.91 and a 1-year high of $6.69. The firm has a market capitalization of $137.28 million, a P/E ratio of -0.64 and a beta of 2.14. The firm has a 50-day simple moving average of $1.42 and a 200 day simple moving average of $1.79.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.16). Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The company had revenue of $30.60 million for the quarter, compared to analysts' expectations of $37.17 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. As a group, sell-side analysts predict that Editas Medicine will post -2.71 EPS for the current fiscal year.

Editas Medicine Company Profile

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.