Brokerages Set Editas Medicine, Inc. (NASDAQ:EDIT) PT at $6.83

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $6.83.

EDIT has been the subject of a number of recent analyst reports. Evercore ISI lowered their price objective on Editas Medicine from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Chardan Capital reissued a “neutral” rating on shares of Editas Medicine in a report on Friday, December 13th. JPMorgan Chase & Co. lowered shares of Editas Medicine from a “neutral” rating to an “underweight” rating in a research note on Monday, December 16th. Stifel Nicolaus lowered Editas Medicine from a “buy” rating to a “hold” rating and reduced their price target for the stock from $11.00 to $3.00 in a research report on Friday, December 13th. Finally, Wells Fargo & Company cut shares of Editas Medicine from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $7.00 to $4.00 in a report on Wednesday, December 11th.

Institutional Investors Weigh In On Editas Medicine

Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in Editas Medicine during the fourth quarter worth $1,843,000. Balyasny Asset Management L.P. boosted its stake in Editas Medicine by 647.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company’s stock valued at $1,652,000 after purchasing an additional 1,126,569 shares during the period. Monaco Asset Management SAM acquired a new position in shares of Editas Medicine in the fourth quarter valued at about $1,359,000. Two Sigma Advisers LP grew its position in shares of Editas Medicine by 46.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,657,000 shares of the company’s stock worth $2,104,000 after purchasing an additional 528,000 shares in the last quarter. Finally, Tang Capital Management LLC bought a new position in Editas Medicine during the 4th quarter worth $508,000. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Trading Up 6.6 %

Shares of EDIT stock opened at $1.46 on Wednesday. The firm has a fifty day simple moving average of $1.50 and a 200-day simple moving average of $2.34. The company has a market capitalization of $121.14 million, a PE ratio of -0.57 and a beta of 1.88. Editas Medicine has a twelve month low of $1.12 and a twelve month high of $8.44.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data 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). The firm had revenue of $30.60 million during the quarter, compared to analysts’ expectations of $37.17 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. During the same period in the previous year, the company earned ($0.23) earnings per share. Equities research analysts predict that Editas Medicine will post -2.71 EPS for the current year.

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.