Editas Medicine, Inc. (NASDAQ:EDIT) Given Consensus Rating of “Moderate Buy” by Analysts

Editas Medicine, Inc. (NASDAQ:EDIT) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.30.

A number of equities analysts recently issued reports on EDIT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Editas Medicine in a report on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of Editas Medicine in a research note on Monday, March 9th. JonesTrading upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Tuesday, March 10th. Robert W. Baird set a $6.00 target price on Editas Medicine in a report on Monday, March 9th. Finally, Chardan Capital reissued a “buy” rating and set a $3.50 price target on shares of Editas Medicine in a research report on Monday, March 9th.

Institutional Trading of Editas Medicine

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in Editas Medicine by 138.0% in the fourth quarter. Renaissance Technologies LLC now owns 3,039,778 shares of the company’s stock valued at $6,232,000 after acquiring an additional 1,762,378 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Editas Medicine by 122.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company’s stock worth $3,016,000 after purchasing an additional 1,430,000 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Editas Medicine by 761.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 800,023 shares of the company’s stock worth $2,776,000 after purchasing an additional 707,181 shares during the period. Two Sigma Investments LP raised its holdings in shares of Editas Medicine by 63.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,584,155 shares of the company’s stock worth $5,497,000 after purchasing an additional 614,229 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Editas Medicine in the fourth quarter valued at approximately $1,166,000. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Stock Performance

Shares of NASDAQ:EDIT opened at $2.35 on Thursday. The business’s 50 day simple moving average is $2.07 and its two-hundred day simple moving average is $2.56. The firm has a market cap of $229.99 million, a P/E ratio of -1.24 and a beta of 2.16. Editas Medicine has a 52-week low of $0.91 and a 52-week high of $4.54.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.21. Editas Medicine had a negative return on equity of 389.73% and a negative net margin of 395.02%.The firm had revenue of $24.74 million during the quarter, compared to analysts’ expectations of $8.77 million. On average, equities analysts forecast that Editas Medicine will post -2.71 earnings per share for the current fiscal year.

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.