Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) received an average rating of “Hold” from the ten rating companies that cover the stock, reports MarketBeat Ratings. Three analysts rated the stock with a sell rating, four assigned a hold rating and one issued a buy rating on the company. The average 1-year target price among brokers who have issued ratings on the stock in the past year is $27.89.
EDIT has been the subject of a number of recent analyst reports. Oppenheimer lowered his price target on Editas Medicine shares from $55.00 to $28.00 in a Thursday, May 5 research note. Barclays raised its price target on Editas Medicine shares from $16.00 to $17.00 and gave the stock an “equal weight” rating in a Thursday, August 4, research note. Finally, Goldman Sachs Group lowered its price target on Editas Medicine shares from $10.00 to $8.00 and set a “sell” rating on the stock in a Tuesday 24 research note. may.
Editas Medication Stock Performance
Shares of EDIT opened at $14.88 on Tuesday. The stock has a market capitalization of $1.02 billion, a P/E ratio of -5.51 and a beta of 2.03. The company’s fifty-day moving average is $15.60 and its two-hundred-day moving average is $15.08. Editas Medicine has a 1 year minimum of $9.59 and a 1 year maximum of $73.03.
Editas Medicine (NASDAQ:EDIT – Get Rating) last reported quarterly earnings data on Wednesday, August 3. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.06. The company posted revenue of $6.36 million for the quarter, versus $4.29 million expected by analysts. Editas Médecine posted a negative net margin of 580.16% and a negative return on equity of 34.83%. The turnover of Editas Médecine is up by 1578.6% compared to the same quarter of last year. During the same period of the previous year, the company posted an EPS of ($0.81). Sell-side analysts predict Editas Medicine will post -3.35 EPS for the current year.
Insider buying and selling at Editas Medicine
In other Editas Medicine news, Executive Vice President Mark S. Shearman sold 5,145 shares of the company in a trade dated Wednesday, June 15. The shares were sold at an average price of $10.06, for a total value of $51,758.70. Following the transaction, the executive vice president now directly owns 68,349 shares of the company, valued at approximately $687,590.94. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In the past ninety days, insiders have sold 7,795 shares of the company worth $82,340. Company insiders own 0.94% of the company’s shares.
Institutional entries and exits
Several large investors have recently changed their stock holdings. Legal & General Group Plc increased its stake in Editas Medicine shares by 21.4% in the 2nd quarter. Legal & General Group Plc now owns 158,103 shares in the company worth $1,870,000 after acquiring an additional 27,835 shares during the period. ExodusPoint Capital Management LP acquired a new stake in Editas Medicine during Q2 for a value of approximately $1,034,000. Goldman Sachs Group Inc. increased its position in Editas Medicine by 23.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 787,720 shares of the company worth $9,319,000 after buying an additional 152,171 shares in the last quarter. Nomura Holdings Inc. increased its position in Editas Medicine by 89.5% during the 2nd quarter. Nomura Holdings Inc. now owns 36,944 shares of the company worth $465,000 after purchasing an additional 17,444 shares last quarter. Finally, Woodline Partners LP increased its position in Editas Medicine by 4,346.2% in the 2nd quarter. Woodline Partners LP now owns 1,016,891 shares of the company worth $12,030,000 after purchasing an additional 994,020 shares in the last quarter. 75.48% of the shares are currently held by hedge funds and other institutional investors.
About Editas Medicine
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Editas Medicine, Inc., a clinical-stage genome editing company, is focused on developing transformative genomic drugs to treat a range of serious diseases. It is developing a proprietary gene editing platform based on CRISPR technology. The Company is developing EDIT-101, which is in a Phase 1/2 clinical trial for Leber 10 congenital amaurosis which leads to hereditary childhood blindness.
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