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

Editas Medicine, Inc. (NASDAQ:EDIT) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $5.40.

A number of brokerages have recently weighed in on EDIT. TD Cowen reiterated a “buy” rating on shares of Editas Medicine in a research report on Wednesday, May 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Editas Medicine in a report on Friday. Wall Street Zen lowered Editas Medicine from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Finally, Chardan Capital raised their price target on Editas Medicine from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th.

Insider Buying and Selling

In other Editas Medicine news, CEO Gilmore Neil O’neill sold 15,380 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $2.70, for a total value of $41,526.00. Following the completion of the transaction, the chief executive officer directly owned 248,313 shares in the company, valued at approximately $670,445.10. This represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 16,575 shares of company stock valued at $44,752. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Editas Medicine

Large investors have recently modified their holdings of the stock. Captrust Financial Advisors bought a new position in Editas Medicine in the second quarter worth about $26,000. StoneX Group Inc. bought a new stake in Editas Medicine during the 4th quarter valued at approximately $33,000. Abel Hall LLC purchased a new position in shares of Editas Medicine during the 1st quarter worth approximately $36,000. Victory Capital Management Inc. purchased a new position in shares of Editas Medicine during the 3rd quarter worth approximately $36,000. Finally, State of Wyoming purchased a new position in shares of Editas Medicine during the 1st quarter worth approximately $43,000. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Trading Up 0.3%

Editas Medicine stock opened at $2.89 on Wednesday. The firm has a market cap of $282.96 million, a P/E ratio of -2.35 and a beta of 2.10. Editas Medicine has a 1-year low of $1.66 and a 1-year high of $4.54. The firm has a 50-day moving average of $2.95 and a 200-day moving average of $2.59.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. The company had revenue of $2.83 million for the quarter, compared to the consensus estimate of $6.37 million. Editas Medicine had a negative return on equity of 677.39% and a negative net margin of 281.59%. Research analysts forecast that Editas Medicine will post -1.03 earnings per share for the current fiscal year.

Editas Medicine Company Profile

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.