Editas Medicine (NASDAQ:EDIT) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Editas Medicine (NASDAQ:EDIT) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Separately, HC Wainwright initiated coverage on shares of Editas Medicine in a research report on Monday. They set a “buy” rating and a $3.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Editas Medicine currently has a consensus rating of “Hold” and an average target price of $6.54.

Editas Medicine Stock Performance

Shares of Editas Medicine stock opened at $1.62 on Tuesday. The firm has a market cap of $135.61 million, a PE ratio of -0.63 and a beta of 2.16. The business’s 50 day simple moving average is $1.42 and its 200 day simple moving average is $1.80. Editas Medicine has a 52-week low of $0.91 and a 52-week high of $6.69.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.16). The business had revenue of $30.60 million for the quarter, compared to the consensus estimate of $37.17 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. During the same period in the prior year, the business earned ($0.23) earnings per share. As a group, equities research analysts predict that Editas Medicine will post -2.71 EPS for the current year.

Institutional Trading of Editas Medicine

Institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Advisers LP boosted its stake 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 acquiring an additional 528,000 shares during the period. Two Sigma Investments LP boosted its position in Editas Medicine by 21.4% during the fourth quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company’s stock worth $2,094,000 after purchasing an additional 290,483 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Editas Medicine in the fourth quarter valued at $1,843,000. Balyasny Asset Management L.P. raised its position in shares of Editas Medicine by 647.3% in the fourth 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Editas Medicine by 30.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,170,000 shares of the company’s stock worth $1,486,000 after buying an additional 272,467 shares during the last quarter. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Company Profile

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.