Editas Medicine Inc (NASDAQ:EDIT) has earned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $47.43.
A number of research firms recently issued reports on EDIT. JPMorgan Chase & Co. set a $36.00 price objective on shares of Editas Medicine and gave the stock a “hold” rating in a report on Monday, August 6th. BidaskClub raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Zacks Investment Research downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Raymond James began coverage on shares of Editas Medicine in a report on Friday, September 21st. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, Guggenheim initiated coverage on shares of Editas Medicine in a report on Tuesday, October 9th. They issued a “neutral” rating on the stock.
In other Editas Medicine news, CTO Vickesh Myer sold 3,000 shares of Editas Medicine stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $29.65, for a total transaction of $88,950.00. Following the transaction, the chief technology officer now owns 3,000 shares of the company’s stock, valued at $88,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katrine Bosley sold 12,000 shares of Editas Medicine stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $30.17, for a total transaction of $362,040.00. Following the transaction, the chief executive officer now directly owns 1,270,399 shares in the company, valued at approximately $38,327,937.83. The disclosure for this sale can be found here. Insiders have sold 86,000 shares of company stock worth $2,601,360 in the last ninety days. Insiders own 5.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors purchased a new position in shares of Editas Medicine in the third quarter worth $137,000. Asset Dedication LLC lifted its holdings in shares of Editas Medicine by 4,400.0% in the second quarter. Asset Dedication LLC now owns 4,500 shares of the company’s stock worth $161,000 after buying an additional 4,400 shares in the last quarter. Reynders McVeigh Capital Management LLC purchased a new position in shares of Editas Medicine in the second quarter worth $202,000. Telos Capital Management Inc. purchased a new position in shares of Editas Medicine in the second quarter worth $203,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Editas Medicine in the second quarter worth $226,000. 67.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EDIT traded down $0.72 on Tuesday, reaching $27.08. The company’s stock had a trading volume of 704,700 shares, compared to its average volume of 1,112,748. The company has a current ratio of 14.50, a quick ratio of 14.50 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -9.09 and a beta of 3.14. Editas Medicine has a 12-month low of $20.29 and a 12-month high of $45.02.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Monday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.15). The business had revenue of $7.37 million during the quarter, compared to analysts’ expectations of $7.01 million. Editas Medicine had a negative return on equity of 61.27% and a negative net margin of 623.35%. The business’s quarterly revenue was up 137.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.65) EPS. As a group, analysts predict that Editas Medicine will post -3 EPS for the current fiscal year.
About Editas Medicine
Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.
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