Editas Medicine (NASDAQ:EDIT) Cut to “Hold” at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Editas Medicine (NASDAQ:EDIT) from a buy rating to a hold rating in a research report released on Friday morning, MarketBeat Ratings reports. Stifel Nicolaus currently has $3.00 price objective on the stock, down from their previous price objective of $11.00.

A number of other research firms also recently weighed in on EDIT. Bank of America downgraded shares of Editas Medicine from a “buy” rating to an “underperform” rating and cut their price target for the stock from $13.00 to $1.00 in a research note on Monday, November 25th. Truist Financial lowered Editas Medicine from a “buy” rating to a “hold” rating in a research report on Friday. Chardan Capital reissued a “buy” rating and set a $12.00 price target on shares of Editas Medicine in a research report on Tuesday, November 5th. Royal Bank of Canada cut their price objective on Editas Medicine from $8.00 to $5.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays decreased their target price on Editas Medicine from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.85.

Editas Medicine Trading Down 23.8 %

Editas Medicine stock opened at $1.44 on Friday. The stock has a fifty day moving average price of $2.76 and a 200 day moving average price of $3.89. Editas Medicine has a 52 week low of $1.41 and a 52 week high of $11.58. The firm has a market capitalization of $118.87 million, a P/E ratio of -0.56 and a beta of 1.86.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.75) EPS 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 company had revenue of $0.06 million during the quarter, compared to the consensus estimate of $3.93 million. During the same quarter in the prior year, the company posted ($0.55) EPS. The company’s quarterly revenue was down 98.9% compared to the same quarter last year. As a group, equities analysts predict that Editas Medicine will post -2.59 EPS for the current year.

Institutional Trading of Editas Medicine

Several large investors have recently bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of Editas Medicine by 494.8% in the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock valued at $32,000 after purchasing an additional 7,758 shares during the period. Ballentine Partners LLC acquired a new position in Editas Medicine in the 3rd quarter worth $36,000. Arcadia Investment Management Corp MI acquired a new position in Editas Medicine in the 3rd quarter worth $39,000. Koss Olinger Consulting LLC purchased a new position in Editas Medicine in the 2nd quarter valued at about $47,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Editas Medicine during the third quarter valued at about $47,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

About Editas Medicine

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.