Editas Medicine Inc. (EDIT) Rating Increased to Hold at Zacks Investment Research
Editas Medicine Inc. (NASDAQ:EDIT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Editas Medicine, Inc. is a genome editing company. It focuses on translating its genome editing technology into a novel class of human therapeutics which enable precise and corrective molecular modification to treat diseases. Editas Medicine, Inc. is based in Cambridge, Massachusetts. “
Separately, Jefferies Group restated a “buy” rating on shares of Editas Medicine in a report on Monday, August 22nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $33.50.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/editas-medicine-inc-edit-rating-increased-to-hold-at-zacks-investment-research.html
Editas Medicine (NASDAQ:EDIT) traded up 1.02% during mid-day trading on Tuesday, reaching $14.90. The company’s stock had a trading volume of 338,380 shares. The firm’s market capitalization is $527.52 million. The company’s 50-day moving average price is $19.08 and its 200 day moving average price is $28.64. Editas Medicine has a 52 week low of $12.57 and a 52 week high of $43.99.
Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.54) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.54). On average, equities analysts forecast that Editas Medicine will post ($2.59) earnings per share for the current fiscal year.
In related news, major shareholder Polaris Venture Management Co. sold 500,000 shares of Editas Medicine stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $16.80, for a total value of $8,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kevin P. Starr sold 5,890 shares of Editas Medicine stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $15.90, for a total transaction of $93,651.00. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of EDIT. Schwab Charles Investment Management Inc. increased its stake in Editas Medicine by 120.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 19,365 shares of the company’s stock valued at $473,000 after buying an additional 10,594 shares during the period. Metropolitan Life Insurance Co. NY bought a new stake in Editas Medicine during the second quarter valued at $181,000. Paloma Partners Management Co bought a new stake in Editas Medicine during the second quarter valued at $252,000. Flagship Ventures Fund IV General Partner LLC bought a new stake in Editas Medicine during the second quarter valued at $120,910,000. Finally, State Street Corp increased its stake in Editas Medicine by 190.4% in the second quarter. State Street Corp now owns 100,234 shares of the company’s stock valued at $2,447,000 after buying an additional 65,723 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.
Editas Medicine Company Profile
Editas Medicine, Inc, formerly Gengine, Inc, is a genome editing company. The Company is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR)/CRISPR associated protein 9 (Cas9) technology.
Receive News & Ratings for Editas Medicine Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine Inc. and related companies with MarketBeat.com's FREE daily email newsletter.