Editas Medicine (NASDAQ:EDIT) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Editas from a "sell" to a "hold," while overall analyst coverage is a Moderate Buy (five Buys, one Hold, one Sell) with a consensus price target of $5.30.
• Editas beat Q1 estimates, reporting ($0.06) EPS vs. ($0.27) expected and $24.74M revenue vs. $8.77M expected, though the company remains unprofitable with negative margins and analysts forecasting -1.12 EPS for the year.
• The stock opened at $2.90 (12‑month range $1.29–$4.54) with a market cap of $283.94M and about 71.9% institutional ownership; key pipeline assets include EDIT‑101 (LCA10) and EDIT‑301 (sickle cell/β‑thalassemia).

Editas Medicine (NASDAQ:EDIT - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

EDIT has been the topic of a number of other research reports. TD Cowen restated a "buy" rating on shares of Editas Medicine in a research note on Monday, March 9th. Weiss Ratings restated a "sell (e+)" rating on shares of Editas Medicine in a research note on Monday, April 20th. Chardan Capital restated a "buy" rating and set a $3.50 price target on shares of Editas Medicine in a research note 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 note 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 equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Editas Medicine has a consensus rating of "Moderate Buy" and a consensus price target of $5.30.

Editas Medicine Trading Down 3.3%

Shares of Editas Medicine stock opened at $2.90 on Friday. Editas Medicine has a 12-month low of $1.29 and a 12-month high of $4.54. The firm has a market capitalization of $283.94 million, a price-to-earnings ratio of -1.53 and a beta of 2.14. The firm's 50 day simple moving average is $2.61 and its two-hundred day simple moving average is $2.50.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.21. Editas Medicine had a negative net margin of 395.02% and a negative return on equity of 389.73%. The business had revenue of $24.74 million for the quarter, compared to analyst estimates of $8.77 million. On average, sell-side analysts predict that Editas Medicine will post -1.12 EPS for the current fiscal year.

Institutional Trading of Editas Medicine

A number of hedge funds and other institutional investors have recently made changes to their positions in EDIT. Captrust Financial Advisors acquired a new stake in shares of Editas Medicine in the second quarter worth $26,000. StoneX Group Inc. acquired a new stake in shares of Editas Medicine in the fourth quarter worth $33,000. Abel Hall LLC acquired a new stake in shares of Editas Medicine in the first quarter worth $36,000. Victory Capital Management Inc. acquired a new stake in shares of Editas Medicine in the third quarter worth $36,000. Finally, Sei Investments Co. acquired a new stake in shares of Editas Medicine in the third quarter worth $46,000. Institutional investors and hedge funds own 71.90% of the company's stock.

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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