Editas Medicine Inc. (EDIT) Stock Rating Upgraded by Zacks Investment Research
Editas Medicine Inc. (NASDAQ:EDIT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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 assumed coverage on shares of Editas Medicine in a research note on Thursday, June 2nd. They set a “hold” rating and a $35.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $33.50.
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Shares of Editas Medicine (NASDAQ:EDIT) traded up 1.02% on Tuesday, hitting $14.90. 338,380 shares of the stock traded hands. The firm’s market capitalization is $527.52 million. Editas Medicine has a 52 week low of $12.57 and a 52 week high of $43.99. The firm’s 50 day moving average is $19.08 and its 200 day moving average is $28.64.
Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.54) EPS for the quarter, hitting the consensus estimate of ($0.54). On average, analysts expect that Editas Medicine will post ($2.59) EPS for the current fiscal year.
In other Editas Medicine 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 and other institutional investors have recently made changes to their positions in EDIT. Royal Bank of Canada bought a new position in shares of Editas Medicine during the first quarter worth $164,000. Deerfield Management Co. bought a new position in shares of Editas Medicine during the first quarter worth $59,043,000. Barclays PLC bought a new position in shares of Editas Medicine during the first quarter worth $824,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Editas Medicine during the first quarter worth $336,000. Finally, Polaris Venture Management Co. VI L.L.C. bought a new position in shares of Editas Medicine during the first quarter worth $160,824,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.
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.
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