Editas Medicine, Inc. (NASDAQ:EDIT) Given Average Recommendation of “Hold” by Brokerages

Editas Medicine, Inc. (NASDAQ:EDIT) has been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $12.90.

Several analysts have commented on EDIT shares. Evercore ISI cut their target price on Editas Medicine from $15.00 to $7.00 and set an “in-line” rating on the stock in a research note on Thursday, May 30th. Morgan Stanley upgraded Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 price target on the stock in a research note on Thursday, May 9th. Barclays dropped their price target on Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Citigroup decreased their target price on Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, StockNews.com cut Editas Medicine from a “hold” rating to a “sell” rating in a report on Thursday, May 9th.

Insider Buying and Selling at Editas Medicine

In other Editas Medicine news, Director Jessica Hopfield purchased 45,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $5.64 per share, with a total value of $253,800.00. Following the completion of the acquisition, the director now directly owns 67,700 shares in the company, valued at $381,828. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Gilmore Neil O’neill sold 12,191 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $5.50, for a total transaction of $67,050.50. Following the completion of the transaction, the chief executive officer now owns 315,279 shares in the company, valued at $1,734,034.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jessica Hopfield acquired 45,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $5.64 per share, with a total value of $253,800.00. Following the transaction, the director now owns 67,700 shares of the company’s stock, valued at $381,828. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EDIT. Dimensional Fund Advisors LP grew its position in Editas Medicine by 40.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,392,396 shares of the company’s stock worth $24,236,000 after acquiring an additional 690,366 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Editas Medicine by 4.5% during the third quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock valued at $66,582,000 after acquiring an additional 370,734 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Editas Medicine by 1,183.6% during the fourth quarter. International Assets Investment Management LLC now owns 288,269 shares of the company’s stock valued at $28,457,000 after acquiring an additional 265,812 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Editas Medicine during the first quarter valued at approximately $1,097,000. Finally, Seven Eight Capital LP bought a new stake in shares of Editas Medicine during the fourth quarter valued at approximately $1,482,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Editas Medicine Stock Up 2.6 %

Editas Medicine stock opened at $4.66 on Friday. The company has a market capitalization of $383.23 million, a P/E ratio of -2.22 and a beta of 2.01. The stock’s 50 day moving average is $5.33 and its 200 day moving average is $7.16. Editas Medicine has a twelve month low of $4.45 and a twelve month high of $11.69.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.13). Editas Medicine had a negative return on equity of 47.34% and a negative net margin of 239.36%. The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $11.14 million. During the same quarter in the previous year, the company earned ($0.71) EPS. The business’s quarterly revenue was down 88.9% on a year-over-year basis. As a group, equities analysts expect that Editas Medicine will post -2.7 EPS for the current year.

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.