Editas Medicine, Inc. (NASDAQ:EDIT) has been assigned an average rating of “Buy” from the seven analysts that are covering the firm. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $33.50.
Several analysts have weighed in on EDIT shares. Zacks Investment Research cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Jefferies Group LLC set a $35.00 price objective on shares of Editas Medicine and gave the stock a “buy” rating in a research note on Wednesday, January 11th.
Editas Medicine (NASDAQ:EDIT) opened at 17.87 on Monday. The company’s market cap is $636.78 million. Editas Medicine has a 12-month low of $12.43 and a 12-month high of $43.99. The firm has a 50 day moving average price of $17.90 and a 200 day moving average price of $17.09.
Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.59) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.05. The firm had revenue of $1 million for the quarter, compared to analysts’ expectations of $1 million. Editas Medicine had a negative net margin of 1,184.46% and a negative return on equity of 59.22%. The firm’s quarterly revenue was up 49.3% compared to the same quarter last year. On average, analysts anticipate that Editas Medicine will post ($2.49) earnings per share for the current fiscal year.
In other Editas Medicine news, Director Kevin Bitterman sold 88,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $16.96, for a total value of $1,507,744.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Polaris Venture Management Co. sold 12,819 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $15.77, for a total transaction of $202,155.63. The disclosure for this sale can be found here. Insiders have sold 343,199 shares of company stock worth $5,574,550 over the last three months.
A number of institutional investors have recently made changes to their positions in EDIT. Metropolitan Life Insurance Co. NY acquired a new position in shares of Editas Medicine during the second quarter worth about $181,000. Swiss National Bank acquired a new position in shares of Editas Medicine during the second quarter worth about $242,000. PARK CIRCLE Co acquired a new position in shares of Editas Medicine during the third quarter worth about $135,000. Bank of New York Mellon Corp boosted its position in shares of Editas Medicine by 61.0% in the second quarter. Bank of New York Mellon Corp now owns 27,739 shares of the company’s stock worth $677,000 after buying an additional 10,514 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Editas Medicine by 120.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 19,365 shares of the company’s stock worth $473,000 after buying an additional 10,594 shares during the last quarter. 60.91% of the stock is currently owned by hedge funds and other institutional investors.
Editas Medicine Company Profile
Editas Medicine, Inc, formerly Gengine, Inc, is a genome editing company. The Company is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR)/CRISPR associated protein 9 (Cas9) technology.