Editas Medicine (NASDAQ:EDIT) Announces Earnings Results

Key Points

• EPS beat, revenue miss: Editas reported Q EPS of ($0.26), beating the ($0.30) estimate, but revenue fell short at $2.83 million versus a $5.94 million consensus, and the company remains deeply unprofitable (ROE -389.73%, net margin -395.02%).
• Stock and market metrics: Shares traded around $2.98 with a market cap of about $291.8 million and lighter intraday volume versus its average, trading in a 12‑month range of $1.29–$4.54.
• Analyst and institutional backdrop: Institutional investors own ~71.9% of the stock, analysts skew positive (five Buys, consensus target $5.30) despite some mixed ratings.

Editas Medicine (NASDAQ:EDIT - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.04, FiscalAI reports. The firm had revenue of $2.83 million during the quarter, compared to the consensus estimate of $5.94 million. Editas Medicine had a negative return on equity of 389.73% and a negative net margin of 395.02%.

Editas Medicine Stock Performance

Shares of Editas Medicine stock traded down $0.02 during midday trading on Tuesday, reaching $2.98. 122,450 shares of the company's stock traded hands, compared to its average volume of 1,680,346. The company has a market cap of $291.76 million, a PE ratio of -1.58 and a beta of 2.14. The stock has a 50 day moving average of $2.61 and a 200-day moving average of $2.49. Editas Medicine has a 12 month low of $1.29 and a 12 month high of $4.54.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Editas Medicine by 7.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,397 shares of the company's stock worth $190,000 after purchasing an additional 6,177 shares during the period. BNP Paribas Financial Markets increased its position in shares of Editas Medicine by 33.3% during the third quarter. BNP Paribas Financial Markets now owns 27,168 shares of the company's stock valued at $94,000 after buying an additional 6,787 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Editas Medicine during the third quarter valued at about $36,000. Captrust Financial Advisors bought a new position in Editas Medicine in the second quarter worth about $26,000. Finally, Sei Investments Co. purchased a new stake in Editas Medicine in the third quarter worth about $46,000. 71.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Cowen reaffirmed a "buy" rating on shares of Editas Medicine in a research note on Monday, March 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of Editas Medicine in a research report on Monday, April 20th. Chardan Capital reissued a "buy" rating and issued a $3.50 price target on shares of Editas Medicine in a report on Monday, March 9th. JonesTrading upgraded shares of Editas Medicine from a "hold" rating to a "buy" rating and set a $8.00 price objective on the stock in a research report on Tuesday, March 10th. Finally, Robert W. Baird set a $6.00 price objective on shares of Editas Medicine in a research note on Monday, March 9th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $5.30.

About Editas Medicine

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine's research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company's pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.