Editas Medicine, Inc. (NASDAQ:EDIT) Given Average Rating of "Moderate Buy" by Brokerages

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) has received an average recommendation of "Moderate Buy" from the ten analysts that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $13.90.

EDIT has been the topic of a number of research analyst reports. Morgan Stanley upgraded Editas Medicine from an "underweight" rating to an "equal weight" rating and set a $7.00 target price on the stock in a report on Thursday, May 9th. StockNews.com downgraded Editas Medicine from a "hold" rating to a "sell" rating in a report on Thursday, May 9th. Citigroup reduced their target price on shares of Editas Medicine from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, May 9th. Barclays lowered their price target on shares of Editas Medicine from $11.00 to $9.00 and set an "equal weight" rating for the company in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Editas Medicine from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Tuesday, February 27th.

Insider Activity at Editas Medicine

In related news, SVP Baisong Mei sold 20,327 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $9.42, for a total transaction of $191,480.34. Following the sale, the senior vice president now directly owns 141,543 shares of the company's stock, valued at $1,333,335.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Editas Medicine news, CEO Gilmore Neil O'neill sold 77,824 shares of Editas Medicine stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $9.42, for a total value of $733,102.08. Following the completion of the sale, the chief executive officer now owns 327,470 shares of the company's stock, valued at approximately $3,084,767.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Baisong Mei sold 20,327 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.42, for a total value of $191,480.34. Following the transaction, the senior vice president now directly owns 141,543 shares in the company, valued at $1,333,335.06. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Clear Street Markets LLC bought a new position in shares of Editas Medicine in the 3rd quarter worth approximately $44,000. Russell Investments Group Ltd. raised its position in Editas Medicine by 401.9% in the fourth quarter. Russell Investments Group Ltd. now owns 5,190 shares of the company's stock worth $53,000 after acquiring an additional 4,156 shares during the period. Amalgamated Bank boosted its stake in shares of Editas Medicine by 18.0% during the 3rd quarter. Amalgamated Bank now owns 8,023 shares of the company's stock worth $63,000 after acquiring an additional 1,226 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Editas Medicine by 481.7% during the 1st quarter. Headlands Technologies LLC now owns 9,493 shares of the company's stock valued at $70,000 after acquiring an additional 7,861 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in shares of Editas Medicine in the 1st quarter worth $72,000. Institutional investors own 71.90% of the company's stock.

Editas Medicine Price Performance

NASDAQ:EDIT traded down $0.11 during trading hours on Thursday, hitting $5.89. The company had a trading volume of 1,650,151 shares, compared to its average volume of 1,844,445. The stock has a 50-day moving average price of $6.62 and a 200 day moving average price of $8.21. The company has a market capitalization of $484.39 million, a PE ratio of -2.80 and a beta of 2.09. Editas Medicine has a 52 week low of $4.91 and a 52 week high of $11.91.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.13). Editas Medicine had a negative net margin of 239.36% and a negative return on equity of 47.34%. The company had revenue of $1.10 million for the quarter, compared to the consensus estimate of $11.14 million. During the same period in the previous year, the firm posted ($0.71) EPS. The company's revenue for the quarter was down 88.9% on a year-over-year basis. Analysts anticipate that Editas Medicine will post -2.63 EPS for the current fiscal year.

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.