Editas Medicine (NASDAQ:EDIT – Get Rating) had its target price dropped by stock analysts at Bank of America from $18.00 to $15.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 42.31% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. Truist Financial cut their target price on shares of Editas Medicine from $80.00 to $35.00 in a research note on Friday. SVB Leerink cut their target price on shares of Editas Medicine from $14.00 to $7.00 and set a “market perform” rating for the company in a research note on Thursday. Barclays boosted their price target on shares of Editas Medicine from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 4th. Robert W. Baird lowered their price target on shares of Editas Medicine from $25.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada lowered their price target on shares of Editas Medicine from $32.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.42.
Editas Medicine Stock Performance
Shares of EDIT stock traded down $0.47 on Friday, reaching $10.54. 14,063 shares of the company were exchanged, compared to its average volume of 1,352,698. The company has a market cap of $724.73 million, a price-to-earnings ratio of -3.56 and a beta of 1.96. The business has a 50-day moving average price of $12.67 and a 200 day moving average price of $13.56. Editas Medicine has a 1 year low of $9.59 and a 1 year high of $37.50.
Editas Medicine (NASDAQ:EDIT – Get Rating) last released its earnings results on Wednesday, November 2nd. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.06. The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $5.86 million. Editas Medicine had a negative net margin of 784.32% and a negative return on equity of 41.33%. As a group, equities analysts anticipate that Editas Medicine will post -3.23 earnings per share for the current year.
Hedge Funds Weigh In On Editas Medicine
Several institutional investors and hedge funds have recently bought and sold shares of the company. Congress Asset Management Co. MA boosted its holdings in Editas Medicine by 0.8% in the 2nd quarter. Congress Asset Management Co. MA now owns 79,065 shares of the company’s stock valued at $935,000 after purchasing an additional 622 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Editas Medicine by 1.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 65,312 shares of the company’s stock valued at $773,000 after purchasing an additional 752 shares during the last quarter. McGuire Investment Group LLC boosted its holdings in Editas Medicine by 4.3% in the 2nd quarter. McGuire Investment Group LLC now owns 19,558 shares of the company’s stock valued at $231,000 after purchasing an additional 810 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Editas Medicine by 10.1% in the 3rd quarter. Lazard Asset Management LLC now owns 9,552 shares of the company’s stock valued at $116,000 after purchasing an additional 873 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Editas Medicine by 8.2% in the 1st quarter. GSA Capital Partners LLP now owns 12,124 shares of the company’s stock valued at $231,000 after purchasing an additional 923 shares during the last quarter. 68.77% of the stock is currently owned by institutional investors and hedge funds.
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 clinical trial for Leber Congenital Amaurosis 10 that leads to inherited childhood blindness.
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