Editas Medicine, Inc. (NASDAQ:EDIT) Given Consensus Rating of “Hold” by Analysts

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have earned a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $6.83.

EDIT has been the subject of a number of research reports. Chardan Capital reiterated a “neutral” rating on shares of Editas Medicine in a report on Friday, December 13th. Truist Financial cut Editas Medicine from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Bank of America cut Editas Medicine from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $13.00 to $1.00 in a report on Monday, November 25th. Barclays decreased their price target on Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Finally, Evercore ISI cut their target price on Editas Medicine from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th.

Institutional Investors Weigh In On Editas Medicine

Institutional investors and hedge funds have recently made changes to their positions in the company. Ieq Capital LLC bought a new position in Editas Medicine during the 4th quarter worth $31,000. Thrive Wealth Management LLC bought a new position in shares of Editas Medicine in the fourth quarter worth $36,000. Dark Forest Capital Management LP grew its stake in shares of Editas Medicine by 66.9% in the fourth quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company’s stock worth $42,000 after purchasing an additional 13,138 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of Editas Medicine in the fourth quarter worth $46,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Editas Medicine in the third quarter worth $47,000. 71.90% of the stock is owned by institutional investors and hedge funds.

Editas Medicine Stock Performance

Shares of NASDAQ:EDIT opened at $1.32 on Wednesday. Editas Medicine has a 1 year low of $1.12 and a 1 year high of $8.44. The stock has a market capitalization of $109.11 million, a P/E ratio of -0.51 and a beta of 1.88. The stock has a 50-day simple moving average of $1.50 and a 200-day simple moving average of $2.29.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, March 5th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.16). Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The firm had revenue of $30.60 million for the quarter, compared to analysts’ expectations of $37.17 million. During the same quarter in the previous year, the firm posted ($0.23) EPS. Analysts predict that Editas Medicine will post -2.71 earnings per share for the current 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.