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

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

Several other equities analysts have also recently issued reports on the company. Robert W. Baird reduced their price objective on Editas Medicine from $8.00 to $4.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Cantor Fitzgerald raised Editas Medicine from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, HC Wainwright began coverage on Editas Medicine in a research report on Monday, April 28th. They issued a "buy" rating and a $3.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $4.70.

Editas Medicine Stock Up 7.5%

Shares of Editas Medicine stock traded up $0.16 on Friday, hitting $2.28. 5,460,163 shares of the company's stock traded hands, compared to its average volume of 2,577,396. The stock has a market cap of $190.86 million, a P/E ratio of -0.75 and a beta of 2.10. The firm's 50-day moving average is $1.76 and its 200 day moving average is $1.52. Editas Medicine has a 52-week low of $0.91 and a 52-week high of $6.05.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.08. Editas Medicine had a negative return on equity of 139.24% and a negative net margin of 701.06%. The firm had revenue of $4.66 million for the quarter, compared to analysts' expectations of $0.79 million. During the same period last year, the business posted ($76.00) earnings per share. Equities research analysts forecast that Editas Medicine will post -2.71 EPS for the current year.

Insider Activity

In other news, CEO Gilmore Neil O'neill sold 15,192 shares of Editas Medicine stock in a transaction dated Tuesday, June 3rd. The stock was 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 now directly owns 280,282 shares in the company, valued at $482,085.04. The trade was a 5.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 16,364 shares of company stock worth $28,146 in the last three months. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EDIT. Ieq Capital LLC bought a new position in shares of Editas Medicine in the 4th quarter valued at approximately $31,000. Raymond James Financial Inc. bought a new position in shares of Editas Medicine in the 4th quarter valued at approximately $303,000. Monaco Asset Management SAM bought a new position in shares of Editas Medicine in the 4th quarter valued at approximately $1,359,000. Intech Investment Management LLC raised its stake in shares of Editas Medicine by 43.1% in the 4th quarter. Intech Investment Management LLC now owns 40,942 shares of the company's stock valued at $52,000 after acquiring an additional 12,336 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Editas Medicine in the 4th quarter valued at approximately $90,000. 71.90% of the stock is owned by institutional investors.

About Editas Medicine

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.