Editas Medicine, Inc. (NASDAQ:EDIT) Receives Average Rating of "Hold" from Brokerages

Shares of Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) have been assigned an average recommendation of "Hold" from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $4.70.

A number of research analysts recently issued reports on the company. Wall Street Zen raised Editas Medicine from a "sell" rating to a "hold" rating in a report on Friday, June 27th. HC Wainwright started coverage on Editas Medicine in a research note on Monday, April 28th. They set a "buy" rating and a $3.00 target price on the stock. Robert W. Baird reduced their price target on Editas Medicine from $8.00 to $4.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald upgraded Editas Medicine from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 29th.

Editas Medicine Trading Down 3.5%

Editas Medicine stock traded down $0.10 during mid-day trading on Friday, reaching $2.75. The company's stock had a trading volume of 1,545,835 shares, compared to its average volume of 3,054,142. The firm has a market cap of $230.20 million, a price-to-earnings ratio of -0.90 and a beta of 2.15. The business has a 50 day moving average price of $1.98 and a 200-day moving average price of $1.61. Editas Medicine has a twelve month low of $0.91 and a twelve month high of $6.05.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.51) by $0.08. The firm had revenue of $4.66 million during the quarter, compared to analyst estimates of $0.79 million. Editas Medicine had a negative net margin of 701.06% and a negative return on equity of 139.24%. During the same quarter in the prior year, the firm posted ($76.00) EPS. On average, equities analysts expect that Editas Medicine will post -2.71 EPS for the current fiscal year.

Insider Transactions at Editas Medicine

In related news, CEO Gilmore Neil O'neill sold 15,192 shares of the company's 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 owned 280,282 shares in the company, valued at $482,085.04. This represents a 5.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 16,364 shares of company stock valued at $28,146. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Editas Medicine

Several large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new position in Editas Medicine in the 4th quarter worth approximately $1,843,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Editas Medicine by 122.2% during the first 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 buying an additional 1,430,000 shares during the period. Balyasny Asset Management L.P. increased its stake 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 worth $1,652,000 after acquiring an additional 1,126,569 shares in the last quarter. Monaco Asset Management SAM bought a new position in Editas Medicine in the 4th quarter worth about $1,359,000. Finally, Acadian Asset Management LLC grew its position in Editas Medicine by 288.5% during the 1st quarter. Acadian Asset Management LLC now owns 752,162 shares of the company's stock valued at $869,000 after purchasing an additional 558,567 shares during the last quarter. Institutional investors own 71.90% of the company's stock.

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.