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

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $5.00.

A number of brokerages have recently commented on EDIT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Editas Medicine in a research report on Wednesday, January 21st. Chardan Capital upgraded Editas Medicine from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th.

Editas Medicine Stock Performance

Shares of EDIT opened at $2.11 on Wednesday. Editas Medicine has a 1 year low of $0.91 and a 1 year high of $4.54. The company’s 50 day simple moving average is $2.26 and its 200 day simple moving average is $2.74. The company has a market capitalization of $205.98 million, a price-to-earnings ratio of -0.89 and a beta of 2.16.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Monday, November 10th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.10. The firm had revenue of $7.54 million during the quarter, compared to analysts’ expectations of $4.95 million. Editas Medicine had a negative net margin of 430.84% and a negative return on equity of 277.29%. Equities analysts expect that Editas Medicine will post -2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Editas Medicine

Several institutional investors and hedge funds have recently bought and sold shares of EDIT. Captrust Financial Advisors acquired a new position in shares of Editas Medicine in the 2nd quarter valued at $26,000. Victory Capital Management Inc. acquired a new stake in Editas Medicine during the 3rd quarter worth approximately $36,000. R Squared Ltd purchased a new position in Editas Medicine in the second quarter valued at approximately $45,000. Sei Investments Co. acquired a new position in Editas Medicine during the third quarter valued at approximately $46,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Editas Medicine during the third quarter worth approximately $50,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

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.