Zacks Research Comments on Editas Medicine FY2027 Earnings

Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) - Research analysts at Zacks Research lifted their FY2027 EPS estimates for Editas Medicine in a research note issued on Tuesday, April 29th. Zacks Research analyst A. Chakraborty now anticipates that the company will post earnings of ($2.27) per share for the year, up from their previous forecast of ($2.30). The consensus estimate for Editas Medicine's current full-year earnings is ($2.71) per share.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.16). The firm had revenue of $30.60 million for the quarter, compared to analyst estimates of $37.17 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. During the same quarter last year, the company earned ($0.23) earnings per share.

EDIT has been the subject of several other research reports. Cantor Fitzgerald upgraded Editas Medicine from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 29th. HC Wainwright began coverage on Editas Medicine in a research report on Monday, April 28th. They set a "buy" rating and a $3.00 price target on the stock. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $6.54.

Editas Medicine Stock Performance

EDIT stock traded up $0.01 during mid-day trading on Friday, hitting $1.34. The company had a trading volume of 738,436 shares, compared to its average volume of 2,570,697. The firm has a market cap of $112.17 million, a PE ratio of -0.53 and a beta of 2.14. The stock's fifty day moving average price is $1.40 and its two-hundred day moving average price is $1.75. Editas Medicine has a 12 month low of $0.91 and a 12 month high of $6.69.

Institutional Trading of Editas Medicine

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ieq Capital LLC bought a new stake in shares of Editas Medicine in the 4th quarter worth about $31,000. Thrive Wealth Management LLC acquired a new position in Editas Medicine during the 4th quarter valued at about $36,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Editas Medicine by 45.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,781 shares of the company's stock valued at $40,000 after buying an additional 11,252 shares during the last quarter. Brave Asset Management Inc. increased its holdings in Editas Medicine by 250.0% in the 1st quarter. Brave Asset Management Inc. now owns 35,000 shares of the company's stock worth $41,000 after buying an additional 25,000 shares during the period. Finally, Dark Forest Capital Management LP raised its stake in shares of Editas Medicine by 66.9% during the 4th quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company's stock valued at $42,000 after buying an additional 13,138 shares during the last quarter. 71.90% of the stock is currently owned by 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.