Editas Medicine, Inc. (NASDAQ:EDIT) Receives $13.90 Average Price Target from Analysts

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have been given an average rating of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $13.90.

Several analysts have recently commented on the stock. Citigroup reduced their price target on shares of Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Morgan Stanley upgraded Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 price target for the company in a report on Thursday, May 9th. StockNews.com cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Barclays lowered their target price on shares of Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th.

Insider Buying and Selling at Editas Medicine

In other news, SVP Baisong Mei sold 20,327 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $9.42, for a total transaction of $191,480.34. Following the sale, the senior vice president now owns 141,543 shares of the company’s stock, valued at $1,333,335.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jessica Hopfield purchased 45,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price of $5.64 per share, for a total transaction of $253,800.00. Following the completion of the purchase, the director now directly owns 67,700 shares of the company’s stock, valued at $381,828. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Baisong Mei sold 20,327 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $9.42, for a total transaction of $191,480.34. Following the transaction, the senior vice president now owns 141,543 shares of the company’s stock, valued at approximately $1,333,335.06. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Editas Medicine

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Editas Medicine by 4.5% in the third quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock valued at $66,582,000 after buying an additional 370,734 shares in the last quarter. Citigroup Inc. raised its position in shares of Editas Medicine by 13.6% during the 3rd quarter. Citigroup Inc. now owns 212,582 shares of the company’s stock worth $1,658,000 after acquiring an additional 25,532 shares in the last quarter. International Assets Investment Management LLC lifted its stake in 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 purchasing an additional 265,812 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Editas Medicine in the third quarter valued at approximately $635,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in 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 purchasing an additional 7,355 shares during the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.

Editas Medicine Stock Performance

Shares of Editas Medicine stock opened at $5.52 on Thursday. The business’s 50 day moving average price is $6.43 and its 200 day moving average price is $8.20. The company has a market cap of $453.96 million, a price-to-earnings ratio of -2.63 and a beta of 2.09. Editas Medicine has a one year low of $4.91 and a one year high of $11.91.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.13). The firm had revenue of $1.10 million for the quarter, compared to analyst estimates of $11.14 million. Editas Medicine had a negative return on equity of 47.34% and a negative net margin of 239.36%. Editas Medicine’s revenue for the quarter was down 88.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.71) earnings per share. On average, analysts predict that Editas Medicine will post -2.67 EPS for the current fiscal year.

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.