Editas Medicine (NASDAQ:EDIT) Given “Neutral” Rating at Chardan Capital

Editas Medicine (NASDAQ:EDIT)‘s stock had its “neutral” rating reissued by stock analysts at Chardan Capital in a research note issued to investors on Friday, Marketbeat.com reports.

Other equities analysts also recently issued research reports about the company. Robert W. Baird cut their price objective on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Friday. Bank of America downgraded Editas Medicine from a “buy” rating to an “underperform” rating and cut their price target for the company from $13.00 to $1.00 in a research note on Monday, November 25th. Royal Bank of Canada decreased their target price on Editas Medicine from $8.00 to $5.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 5th. Barclays reduced their price objective on shares of Editas Medicine from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company cut shares of Editas Medicine from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $7.00 to $4.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.85.

Editas Medicine Trading Down 23.8 %

EDIT opened at $1.44 on Friday. The business has a 50 day moving average of $2.76 and a 200-day moving average of $3.90. The stock has a market capitalization of $118.87 million, a price-to-earnings ratio of -0.56 and a beta of 1.86. Editas Medicine has a 1-year low of $1.41 and a 1-year high of $11.58.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The firm had revenue of $0.06 million during the quarter, compared to the consensus estimate of $3.93 million. During the same period in the prior year, the firm earned ($0.55) EPS. The business’s revenue was down 98.9% on a year-over-year basis. Equities analysts predict that Editas Medicine will post -2.59 EPS for the current year.

Hedge Funds Weigh In On Editas Medicine

Several hedge funds have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. grew its stake in Editas Medicine by 133.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock valued at $1,807,000 after purchasing an additional 302,652 shares in the last quarter. Integral Health Asset Management LLC raised its position in Editas Medicine by 50.0% during the second quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock worth $3,152,000 after acquiring an additional 225,000 shares in the last quarter. Millennium Management LLC grew its position in shares of Editas Medicine by 10.0% in the 2nd quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock valued at $11,486,000 after acquiring an additional 223,012 shares during the period. Raymond James & Associates raised its holdings in shares of Editas Medicine by 49.7% in the 2nd quarter. Raymond James & Associates now owns 526,815 shares of the company’s stock valued at $2,460,000 after purchasing an additional 174,993 shares during the period. Finally, Stifel Financial Corp grew its holdings in Editas Medicine by 37.9% during the third quarter. Stifel Financial Corp now owns 624,876 shares of the company’s stock worth $2,131,000 after purchasing an additional 171,656 shares during the period. Institutional investors own 71.90% of the company’s stock.

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.