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

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) has received a consensus rating of "Hold" from the thirteen analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $4.70.

EDIT has been the subject of a number of research reports. Cantor Fitzgerald raised shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded Editas Medicine from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Robert W. Baird reduced their price target on Editas Medicine from $8.00 to $4.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, HC Wainwright began coverage on Editas Medicine in a report on Monday, April 28th. They issued a "buy" rating and a $3.00 price target for the company.

Insider Buying and Selling at Editas Medicine

In other Editas Medicine news, CEO Gilmore Neil O'neill sold 15,192 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $482,085.04. This represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 16,364 shares of company stock worth $28,146 in the last ninety days. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Editas Medicine

Several large investors have recently added to or reduced their stakes in EDIT. Ieq Capital LLC acquired a new stake in shares of Editas Medicine during the fourth quarter worth $31,000. Raymond James Financial Inc. bought a new stake in shares of Editas Medicine during the 4th quarter valued at about $303,000. Monaco Asset Management SAM acquired a new stake in Editas Medicine during the fourth quarter worth about $1,359,000. Intech Investment Management LLC raised its stake in Editas Medicine by 43.1% during the fourth quarter. Intech Investment Management LLC now owns 40,942 shares of the company's stock worth $52,000 after acquiring an additional 12,336 shares during the period. Finally, Virtu Financial LLC bought a new position in Editas Medicine in the fourth quarter worth about $90,000. 71.90% of the stock is currently owned by institutional investors.

Editas Medicine Stock Down 4.5%

Shares of NASDAQ EDIT traded down $0.11 during midday trading on Tuesday, hitting $2.25. The stock had a trading volume of 2,351,618 shares, compared to its average volume of 3,027,244. The company has a market capitalization of $187.93 million, a price-to-earnings ratio of -0.74 and a beta of 2.10. Editas Medicine has a 1-year low of $0.91 and a 1-year high of $6.05. The company has a fifty day moving average price of $1.65 and a 200 day moving average price of $1.52.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.43) earnings per share for the quarter, beating analysts' consensus estimates of ($0.51) by $0.08. Editas Medicine had a negative net margin of 701.06% and a negative return on equity of 139.24%. The firm 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 company posted ($76.00) earnings per share. On average, research analysts forecast that Editas Medicine will post -2.71 EPS for the current 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.