Brokerages 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.

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

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

Insider Activity at Editas Medicine

In other Editas Medicine news, CEO Gilmore Neil O'neill sold 15,192 shares of the firm'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 completion of the transaction, the chief executive officer owned 280,282 shares in the company, valued at $482,085.04. This trade represents a 5.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 21,485 shares of company stock valued at $40,897 in the last quarter. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Editas Medicine

Several large investors have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new position in Editas Medicine during the fourth quarter worth $1,843,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Editas Medicine by 122.2% in 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 purchasing an additional 1,430,000 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Editas Medicine by 647.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company's stock worth $1,652,000 after purchasing an additional 1,126,569 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Editas Medicine by 288.5% during the first quarter. Acadian Asset Management LLC now owns 752,162 shares of the company's stock valued at $869,000 after buying an additional 558,567 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of Editas Medicine by 46.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,657,000 shares of the company's stock valued at $2,104,000 after buying an additional 528,000 shares during the last quarter. Institutional investors own 71.90% of the company's stock.

Editas Medicine Trading Down 1.6%

EDIT stock traded down $0.04 during trading on Wednesday, reaching $2.49. The stock had a trading volume of 873,793 shares, compared to its average volume of 2,964,962. The firm has a market cap of $208.44 million, a PE ratio of -0.82 and a beta of 2.19. The stock's 50 day moving average is $2.47 and its two-hundred day moving average is $1.81. Editas Medicine has a 52 week low of $0.91 and a 52 week high of $4.44.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate 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 last year, the firm posted ($76.00) earnings per share. On average, research analysts anticipate 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.