Editas Medicine (NASDAQ:EDIT) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Editas Medicine (NASDAQ:EDIT) from a "hold" to a "sell" in a research note issued on Saturday.
• Analyst sentiment is mixed but leans positive overall—one Strong Buy, five Buy, one Hold and one Sell—giving an average rating of "Moderate Buy" and an average price target of $5.30.
• In its latest quarter Editas reported better-than-expected results (EPS of $(0.06) vs. $(0.27) est., revenue $24.74M vs. $8.77M est.) but remains unprofitable with deeply negative ROE and net margin, and analysts forecast about -2.71 EPS for the current fiscal year.

Editas Medicine (NASDAQ:EDIT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other equities analysts have also weighed in on EDIT. Chardan Capital reissued a "buy" rating and issued a $3.50 price objective on shares of Editas Medicine in a research report on Monday, March 9th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Editas Medicine in a research note on Wednesday, January 21st. JonesTrading upgraded Editas Medicine from a "hold" rating to a "buy" rating and set a $8.00 target price on the stock in a research report on Tuesday, March 10th. Robert W. Baird set a $6.00 price target on Editas Medicine in a research note on Monday, March 9th. Finally, TD Cowen restated a "buy" rating on shares of Editas Medicine in a report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $5.30.

Editas Medicine Stock Performance

Shares of NASDAQ:EDIT opened at $2.94 on Friday. The business's fifty day moving average price is $2.22 and its two-hundred day moving average price is $2.54. The stock has a market cap of $287.74 million, a PE ratio of -1.56 and a beta of 2.04. Editas Medicine has a one year low of $1.08 and a one year high of $4.54.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last released its quarterly earnings results on Monday, March 9th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.21. The company had revenue of $24.74 million during the quarter, compared to analysts' expectations of $8.77 million. Editas Medicine had a negative return on equity of 389.73% and a negative net margin of 395.02%. As a group, equities research analysts predict that Editas Medicine will post -2.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in Editas Medicine by 17.0% in the 4th quarter. Hsbc Holdings PLC now owns 112,186 shares of the company's stock worth $231,000 after buying an additional 16,288 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Editas Medicine during the fourth quarter worth about $89,000. Quadrature Capital Ltd acquired a new position in shares of Editas Medicine in the fourth quarter worth about $220,000. Man Group plc boosted its stake in shares of Editas Medicine by 58.8% during the 4th quarter. Man Group plc now owns 79,170 shares of the company's stock valued at $162,000 after buying an additional 29,326 shares during the last quarter. Finally, Eversept Partners LP acquired a new stake in shares of Editas Medicine during the fourth quarter worth approximately $596,000. 71.90% of the stock is owned by institutional investors and hedge funds.

Editas Medicine Company Profile

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.

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