Morgan Stanley upgraded shares of Editas Medicine (NASDAQ:EDIT – Free Report) from an underweight rating to an equal weight rating in a research note published on Thursday, MarketBeat Ratings reports. They currently have $7.00 price target on the stock.
A number of other equities analysts also recently commented on EDIT. JPMorgan Chase & Co. upped their price objective on shares of Editas Medicine from $8.00 to $9.00 and gave the stock a neutral rating in a research report on Tuesday, February 27th. StockNews.com upgraded shares of Editas Medicine from a sell rating to a hold rating in a research report on Friday, March 1st. Citigroup boosted their target price on Editas Medicine from $11.00 to $16.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Finally, Barclays lifted their price target on Editas Medicine from $10.00 to $11.00 and gave the company an equal weight rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $13.90.
Check Out Our Latest Stock Analysis on Editas Medicine
Editas Medicine Stock Down 4.3 %
NASDAQ EDIT opened at $5.32 on Thursday. The firm has a market cap of $437.52 million, a P/E ratio of -2.53 and a beta of 2.09. Editas Medicine has a 52-week low of $4.91 and a 52-week high of $11.91. The business’s 50-day moving average price is $6.84 and its 200 day moving average price is $8.24.
Editas Medicine (NASDAQ:EDIT – Get Free Report) last announced its 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 net margin of 239.36% and a negative return on equity of 47.34%. The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $11.14 million. During the same quarter last year, the business posted ($0.71) earnings per share. The company’s revenue for the quarter was down 88.9% compared to the same quarter last year. As a group, analysts anticipate that Editas Medicine will post -2.59 earnings per share for the current year.
Insider Buying and Selling
In other Editas Medicine news, CEO Gilmore Neil O’neill sold 77,824 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total value of $733,102.08. Following the sale, the chief executive officer now owns 327,470 shares of the company’s stock, valued at $3,084,767.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Editas Medicine news, SVP Baisong Mei sold 20,327 shares of Editas Medicine stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $9.42, for a total transaction of $191,480.34. Following the completion of the transaction, the senior vice president now owns 141,543 shares in the company, valued at $1,333,335.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gilmore Neil O’neill sold 77,824 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $9.42, for a total transaction of $733,102.08. Following the completion of the sale, the chief executive officer now owns 327,470 shares in the company, valued at $3,084,767.40. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Editas Medicine
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Editas Medicine by 4.5% in the third quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock worth $66,582,000 after acquiring an additional 370,734 shares during the last quarter. Citigroup Inc. lifted its holdings in Editas Medicine by 13.6% in the 3rd quarter. Citigroup Inc. now owns 212,582 shares of the company’s stock valued at $1,658,000 after purchasing an additional 25,532 shares in the last quarter. International Assets Investment Management LLC grew its holdings 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 worth $28,457,000 after buying an additional 265,812 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Editas Medicine in the third quarter valued at approximately $635,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Editas Medicine by 351.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,450 shares of the company’s stock valued at $96,000 after buying an additional 7,355 shares during the last quarter. Hedge funds and other 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.
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Source: defenseworld.net
