Editas Medicine (NASDAQ:EDIT) Stock Rating Upgraded by HC Wainwright

Editas Medicine (NASDAQ:EDIT - Get Free Report) was upgraded by investment analysts at HC Wainwright to a "strong-buy" rating in a report issued on Monday, MarketBeat Ratings reports. The firm presently has a $3.00 price objective on the stock. HC Wainwright's target price indicates a potential upside of 82.93% from the stock's previous close. HC Wainwright also issued estimates for Editas Medicine's Q1 2025 earnings at ($0.55) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.19) EPS, FY2025 earnings at ($1.50) EPS, Q1 2026 earnings at ($0.45) EPS, Q2 2026 earnings at ($0.39) EPS, Q3 2026 earnings at ($0.48) EPS, Q4 2026 earnings at ($0.18) EPS and FY2026 earnings at ($1.49) EPS.

Editas Medicine Stock Up 1.2 %

NASDAQ:EDIT traded up $0.02 during trading hours on Monday, hitting $1.64. 1,874,744 shares of the company traded hands, compared to its average volume of 2,583,844. The company has a market cap of $137.28 million, a PE ratio of -0.64 and a beta of 2.14. The firm's 50-day simple moving average is $1.42 and its 200-day simple moving average is $1.76. Editas Medicine has a one year low of $0.91 and a one year high of $6.69.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.16). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The firm had revenue of $30.60 million for the quarter, compared to the consensus estimate of $37.17 million. During the same period in the previous year, the business earned ($0.23) earnings per share. As a group, equities research analysts expect that Editas Medicine will post -2.71 EPS for the current year.

Institutional Trading of Editas Medicine

Institutional investors and hedge funds have recently modified their holdings of the business. Ieq Capital LLC bought a new position in Editas Medicine in the 4th quarter valued at $31,000. Thrive Wealth Management LLC bought a new position in Editas Medicine during the fourth quarter valued at about $36,000. Dark Forest Capital Management LP increased its holdings in Editas Medicine by 66.9% during the fourth quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company's stock worth $42,000 after buying an additional 13,138 shares during the last quarter. Brave Asset Management Inc. raised its position in Editas Medicine by 250.0% in the first quarter. Brave Asset Management Inc. now owns 35,000 shares of the company's stock worth $41,000 after acquiring an additional 25,000 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Editas Medicine by 45.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,781 shares of the company's stock valued at $40,000 after acquiring an additional 11,252 shares during the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.

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.