Shares of Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) have received a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.73.
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EDIT has been the topic of several analyst reports. Chardan Capital dropped their price objective on Editas Medicine from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, November 17th. Evercore ISI decreased their target price on Editas Medicine to $8.00 in a research report on Monday, November 21st. Wells Fargo & Company reduced their price objective on Editas Medicine from $50.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 4th. SVB Leerink boosted their price objective on Editas Medicine from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Monday, January 23rd. Finally, Royal Bank of Canada cut their target price on Editas Medicine from $32.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Friday, November 18th.
Editas Medicine Stock Performance
Shares of NASDAQ:EDIT opened at $10.15 on Tuesday. The company has a market cap of $697.91 million, a P/E ratio of -3.45 and a beta of 1.87. Editas Medicine has a one year low of $7.70 and a one year high of $21.59. The business’s 50-day simple moving average is $9.35 and its 200 day simple moving average is $11.83.
Insider Buying and Selling at Editas Medicine
In other Editas Medicine news, CFO Michelle Robertson sold 4,287 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $9.67, for a total value of $41,455.29. Following the completion of the transaction, the chief financial officer now owns 76,243 shares of the company’s stock, valued at approximately $737,269.81. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Mark S. Shearman sold 2,790 shares of the stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $9.67, for a total transaction of $26,979.30. Following the sale, the executive vice president now directly owns 65,559 shares in the company, valued at approximately $633,955.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michelle Robertson sold 4,287 shares of the stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $9.67, for a total value of $41,455.29. Following the sale, the chief financial officer now owns 76,243 shares in the company, valued at $737,269.81. The disclosure for this sale can be found here. Insiders sold a total of 9,175 shares of company stock valued at $86,572 in the last quarter. Corporate insiders own 1.30% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in EDIT. Kiwi Wealth Investments Limited Partnership acquired a new stake in Editas Medicine during the 4th quarter worth $625,000. State of Wisconsin Investment Board grew its holdings in shares of Editas Medicine by 9.2% in the 4th quarter. State of Wisconsin Investment Board now owns 138,975 shares of the company’s stock valued at $1,233,000 after acquiring an additional 11,677 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Editas Medicine in the 4th quarter valued at about $1,734,000. Legal & General Group Plc grew its holdings in shares of Editas Medicine by 152.9% in the 4th quarter. Legal & General Group Plc now owns 155,059 shares of the company’s stock valued at $1,375,000 after acquiring an additional 93,750 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Editas Medicine by 13.8% in the 4th quarter. Millennium Management LLC now owns 2,142,468 shares of the company’s stock valued at $19,004,000 after acquiring an additional 259,598 shares in the last quarter. Institutional investors and hedge funds own 69.67% of the company’s stock.
About Editas Medicine
Editas Medicine, Inc engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR), and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J.
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Source: marketbeat.com
