Editas Medicine’s (EDIT) Neutral Rating Reiterated at Chardan Capital

Chardan Capital reiterated their neutral rating on shares of Editas Medicine (NASDAQ:EDIT) in a research note released on Friday, Marketbeat reports.

Other equities research analysts have also issued reports about the stock. Raymond James lowered shares of Editas Medicine from an “outperform” rating to a “market perform” rating in a research note on Monday, November 4th. Robert W. Baird reduced their price objective on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company downgraded Editas Medicine from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $7.00 to $4.00 in a report on Wednesday, December 11th. Stifel Nicolaus downgraded Editas Medicine from a “buy” rating to a “hold” rating and cut their price target for the company from $11.00 to $3.00 in a research note on Friday. Finally, Truist Financial lowered shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.85.

Editas Medicine Stock Performance

Shares of EDIT opened at $1.44 on Friday. Editas Medicine has a fifty-two week low of $1.41 and a fifty-two week high of $11.58. The firm’s 50-day simple moving average is $2.76 and its two-hundred day simple moving average is $3.89. The stock has a market cap of $118.87 million, a PE ratio of -0.56 and a beta of 1.86.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Monday, November 4th. The company reported ($0.75) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $3.93 million. During the same quarter in the prior year, the firm posted ($0.55) earnings per share. The business’s revenue was down 98.9% on a year-over-year basis. Equities research analysts predict that Editas Medicine will post -2.59 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Signaturefd LLC increased its stake in Editas Medicine by 494.8% during the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock worth $32,000 after acquiring an additional 7,758 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Editas Medicine during the 3rd quarter valued at approximately $36,000. Arcadia Investment Management Corp MI bought a new position in shares of Editas Medicine during the 3rd quarter valued at approximately $39,000. Koss Olinger Consulting LLC purchased a new stake in Editas Medicine during the 2nd quarter valued at $47,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Editas Medicine in the third quarter worth $47,000. Institutional investors own 71.90% of the company’s stock.

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.