Editas Medicine (NASDAQ:EDIT) Receives "Sell (E+)" Rating from Weiss Ratings

Key Points

• Editas Medicine has received a "Sell (E+)" rating from Weiss Ratings, indicating a cautious outlook on the stock.
• The consensus rating for Editas Medicine is "Hold," with an average price target of $5.10, amidst mixed ratings from various research analysts.
• Editas Medicine reported a quarterly loss of ($0.63) per share, missing consensus estimates, despite revenue exceeding expectations at $3.58 million.

Editas Medicine (NASDAQ:EDIT - Get Free Report)'s stock had its "sell (e+)" rating reissued by equities research analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

Several other equities analysts also recently weighed in on the company. Wall Street Zen raised Editas Medicine from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. Wells Fargo & Company boosted their target price on Editas Medicine from $3.00 to $4.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 3rd. HC Wainwright reissued a "buy" rating and set a $5.00 target price on shares of Editas Medicine in a research report on Friday, September 5th. Finally, Robert W. Baird boosted their target price on Editas Medicine from $4.00 to $6.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Editas Medicine has a consensus rating of "Hold" and an average price target of $5.10.

Editas Medicine Price Performance

Shares of EDIT opened at $3.72 on Friday. The stock has a market capitalization of $334.50 million, a price-to-earnings ratio of -1.31 and a beta of 2.18. Editas Medicine has a 1 year low of $0.91 and a 1 year high of $4.54. The business's 50 day simple moving average is $3.18 and its 200-day simple moving average is $2.45.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.22). The firm had revenue of $3.58 million for the quarter, compared to analysts' expectations of $1.81 million. Editas Medicine had a negative return on equity of 200.25% and a negative net margin of 608.88%. On average, sell-side analysts expect that Editas Medicine will post -2.71 earnings per share for the current year.

Hedge Funds Weigh In On Editas Medicine

Hedge funds have recently bought and sold shares of the business. Nuveen LLC bought a new position in Editas Medicine in the 1st quarter valued at $367,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Editas Medicine by 144.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,017 shares of the company's stock worth $52,000 after buying an additional 26,601 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Editas Medicine by 45.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,781 shares of the company's stock worth $40,000 after buying an additional 11,252 shares in the last quarter. XTX Topco Ltd grew its position in shares of Editas Medicine by 352.5% during the 1st quarter. XTX Topco Ltd now owns 475,381 shares of the company's stock worth $551,000 after buying an additional 370,325 shares in the last quarter. Finally, Ieq Capital LLC grew its position in shares of Editas Medicine by 551.0% during the 1st quarter. Ieq Capital LLC now owns 160,370 shares of the company's stock worth $186,000 after buying an additional 135,736 shares in the last quarter. Institutional investors own 71.90% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.