Editas Medicine (NASDAQ:EDIT - Get Free Report) had its price target hoisted by investment analysts at Robert W. Baird from $4.00 to $6.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price target would indicate a potential upside of 119.78% from the stock's previous close.
A number of other brokerages have also issued reports on EDIT. Wall Street Zen upgraded shares of Editas Medicine from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Cantor Fitzgerald raised shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, HC Wainwright assumed coverage on shares of Editas Medicine in a research report on Monday, April 28th. They set a "buy" rating and a $3.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $5.10.
View Our Latest Stock Analysis on Editas Medicine
Editas Medicine Stock Performance
Shares of NASDAQ:EDIT traded down $0.30 on Wednesday, hitting $2.73. 1,839,539 shares of the company were exchanged, compared to its average volume of 2,961,823. The company's 50 day moving average price is $2.56 and its two-hundred day moving average price is $1.87. Editas Medicine has a one year low of $0.91 and a one year high of $4.19. The firm has a market capitalization of $245.48 million, a price-to-earnings ratio of -0.96 and a beta of 2.19.
Editas Medicine (NASDAQ:EDIT - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.22). Editas Medicine had a negative net margin of 608.88% and a negative return on equity of 200.25%. The business had revenue of $3.58 million for the quarter, compared to analyst estimates of $1.81 million. Research analysts predict that Editas Medicine will post -2.71 earnings per share for the current year.
Insider Transactions 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 shares were sold at an average price of $1.72, for a total transaction of $26,130.24. Following the completion of the sale, the chief executive officer directly owned 280,282 shares in the company, valued at $482,085.04. This trade represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 22,164 shares of company stock worth $42,649 in the last three months. Company insiders own 1.90% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors bought a new position in Editas Medicine in the second quarter valued at approximately $26,000. R Squared Ltd acquired a new position in shares of Editas Medicine during the second quarter worth $45,000. Savant Capital LLC lifted its holdings in shares of Editas Medicine by 143.4% during the second quarter. Savant Capital LLC now owns 31,560 shares of the company's stock worth $69,000 after purchasing an additional 18,593 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Editas Medicine by 279.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 31,938 shares of the company's stock valued at $70,000 after buying an additional 23,513 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Editas Medicine in the second quarter valued at $70,000. 71.90% of the stock is owned by institutional investors.
About Editas Medicine
(
Get Free Report)
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.
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