Analysts Set Editas Medicine, Inc. (NASDAQ:EDIT) PT at $4.70

Key Points

• Editas Medicine, Inc. has received a consensus recommendation of "Hold" from analysts, with most ratings categorized as hold or sell, while the average price objective is $4.70.
• CEO Gilmore Neil O'neill sold 15,192 shares of the stock recently, representing a 5.14% decrease in their position, raising concerns about insider confidence.
• Institutional investors own approximately 71.90% of Editas Medicine's stock, with several acquiring new stakes and increasing their positions in the company.

Shares of Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) have been assigned a consensus rating of "Hold" from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $4.70.

A number of research firms recently weighed in on EDIT. HC Wainwright began coverage on shares of Editas Medicine in a research note on Monday, April 28th. They set a "buy" rating and a $3.00 price target for the company. Cantor Fitzgerald upgraded shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 29th. Robert W. Baird reduced their target price on shares of Editas Medicine from $8.00 to $4.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Wall Street Zen upgraded shares of Editas Medicine from a "sell" rating to a "hold" rating in a report on Saturday, July 26th.

Insider Buying and Selling at Editas Medicine

In other news, CEO Gilmore Neil O'neill sold 15,192 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $1.72, for a total value of $26,130.24. Following the transaction, the chief executive officer directly owned 280,282 shares of the company's stock, valued at $482,085.04. This represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 22,164 shares of company stock valued at $42,649 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Editas Medicine

Several large investors have recently modified their holdings of EDIT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 worth $3,016,000 after acquiring an additional 1,430,000 shares during the period. Geode Capital Management LLC grew its holdings in shares of Editas Medicine by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,964,298 shares of the company's stock valued at $4,323,000 after purchasing an additional 20,521 shares during the last quarter. Two Sigma Advisers LP boosted its position in Editas Medicine by 46.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,657,000 shares of the company's stock worth $2,104,000 after buying an additional 528,000 shares during the period. Two Sigma Investments LP boosted its position in Editas Medicine by 21.4% during the 4th quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company's stock worth $2,094,000 after buying an additional 290,483 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Editas Medicine in the 4th quarter worth approximately $1,843,000. 71.90% of the stock is owned by institutional investors.

Editas Medicine Price Performance

Shares of EDIT stock traded down $0.28 during trading hours on Wednesday, reaching $2.21. 2,263,179 shares of the company were exchanged, compared to its average volume of 2,175,397. Editas Medicine has a fifty-two week low of $0.91 and a fifty-two week high of $4.22. The stock's fifty day moving average is $2.48 and its two-hundred day moving average is $1.82. The company has a market cap of $185.00 million, a price-to-earnings ratio of -0.73 and a beta of 2.19.

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, topping analysts' consensus estimates of ($0.51) by $0.08. The company had revenue of $4.66 million for 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 period in the prior year, the business earned ($76.00) earnings per share. On average, research analysts anticipate that Editas Medicine will post -2.71 earnings per share 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.