Editas Medicine, Inc. (NASDAQ:EDIT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $5.00.

EDIT has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Editas Medicine in a report on Wednesday, January 21st. Chardan Capital upgraded shares of Editas Medicine from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th.

Hedge Funds Weigh In On Editas Medicine

Several institutional investors and hedge funds have recently bought and sold shares of EDIT. Victory Capital Management Inc. acquired a new stake in Editas Medicine during the 3rd quarter worth about $36,000. Captrust Financial Advisors purchased a new position in shares of Editas Medicine in the second quarter worth about $26,000. Sei Investments Co. purchased a new position in shares of Editas Medicine in the third quarter worth about $46,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Editas Medicine during the third quarter worth about $50,000. Finally, SG Americas Securities LLC purchased a new stake in Editas Medicine in the third quarter valued at approximately $51,000. 71.90% of the stock is owned by hedge funds and other institutional investors.

Editas Medicine Trading Down 1.1%

Shares of NASDAQ:EDIT opened at $1.79 on Friday. The company has a market capitalization of $174.74 million, a PE ratio of -0.75 and a beta of 2.15. Editas Medicine has a 12-month low of $0.91 and a 12-month high of $4.54. The business’s fifty day simple moving average is $2.05 and its 200-day simple moving average is $2.61.

About Editas Medicine

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.