Editas Medicine (NASDAQ:EDIT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other research analysts also recently issued reports on the company. Barclays initiated coverage on Editas Medicine in a research note on Wednesday, September 6th. They set an “overweight” rating and a $28.00 price target on the stock. Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, November 10th. ValuEngine downgraded Editas Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Cowen reiterated a “buy” rating on shares of Editas Medicine in a research note on Tuesday, November 7th. Finally, Cann reiterated a “hold” rating on shares of Editas Medicine in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Editas Medicine currently has an average rating of “Hold” and an average price target of $26.73.

Editas Medicine (NASDAQ:EDIT) traded down $0.82 during trading hours on Thursday, reaching $24.96. The company had a trading volume of 1,248,863 shares, compared to its average volume of 1,108,034. The company has a current ratio of 10.12, a quick ratio of 10.12 and a debt-to-equity ratio of 0.19. Editas Medicine has a 12-month low of $13.12 and a 12-month high of $31.81.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). The firm had revenue of $6.28 million for the quarter, compared to analysts’ expectations of $2.66 million. Editas Medicine had a negative return on equity of 70.19% and a negative net margin of 1,127.03%. The company’s quarterly revenue was up 553.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.59) EPS. research analysts expect that Editas Medicine will post -2.92 EPS for the current fiscal year.

In other Editas Medicine news, CFO Andrew A. F. Hack sold 5,000 shares of Editas Medicine stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $24.81, for a total value of $124,050.00. Following the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $124,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katrine Bosley sold 8,333 shares of Editas Medicine stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $23.64, for a total value of $196,992.12. Following the completion of the transaction, the insider now owns 1,393,322 shares in the company, valued at $32,938,132.08. The disclosure for this sale can be found here. Insiders sold a total of 34,999 shares of company stock worth $900,774 over the last quarter. Company insiders own 19.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Editas Medicine by 12.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,177,146 shares of the company’s stock valued at $36,533,000 after buying an additional 241,973 shares during the period. State Street Corp lifted its holdings in shares of Editas Medicine by 305.4% in the 2nd quarter. State Street Corp now owns 537,640 shares of the company’s stock valued at $9,022,000 after buying an additional 405,022 shares during the period. Ark Investment Management LLC lifted its holdings in shares of Editas Medicine by 121.9% in the 2nd quarter. Ark Investment Management LLC now owns 510,187 shares of the company’s stock valued at $8,561,000 after buying an additional 280,265 shares during the period. Northern Trust Corp lifted its holdings in shares of Editas Medicine by 245.9% in the 2nd quarter. Northern Trust Corp now owns 373,149 shares of the company’s stock valued at $6,261,000 after buying an additional 265,273 shares during the period. Finally, American Century Companies Inc. acquired a new stake in shares of Editas Medicine in the 3rd quarter valued at approximately $7,497,000. 70.11% of the stock is owned by institutional investors and hedge funds.

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Editas Medicine Company Profile

Editas Medicine, Inc is a genome editing company. It 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) technology.

Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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