Editas Medicine (NASDAQ:EDIT) Upgraded by BidaskClub to Hold

Editas Medicine (NASDAQ:EDIT) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Monday, April 1st, BidAskClub reports.

EDIT has been the subject of several other reports. BTIG Research started coverage on shares of Editas Medicine in a report on Thursday, February 7th. They set a “buy” rating and a $30.00 target price for the company. Zacks Investment Research raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Tuesday, March 5th. Cowen reissued a “buy” rating on shares of Editas Medicine in a report on Tuesday, January 22nd. Chardan Capital reaffirmed a “buy” rating and set a $55.00 target price on shares of Editas Medicine in a research note on Tuesday, January 22nd. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of Editas Medicine in a research note on Monday, December 31st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $37.60.

Shares of NASDAQ:EDIT traded down $0.43 during trading on Monday, reaching $27.01. The stock had a trading volume of 423,890 shares, compared to its average volume of 964,681. The stock has a market capitalization of $1.29 billion, a P/E ratio of -11.59 and a beta of 2.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.44 and a current ratio of 10.44. Editas Medicine has a one year low of $17.80 and a one year high of $41.43.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Thursday, February 28th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). Editas Medicine had a negative return on equity of 46.82% and a negative net margin of 344.28%. The business had revenue of $6.12 million for the quarter, compared to analysts’ expectations of $16.30 million. On average, research analysts forecast that Editas Medicine will post -2.73 EPS for the current year.

In other Editas Medicine news, insider Vickesh Myer sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $20.42, for a total value of $61,260.00. Following the transaction, the insider now owns 3,000 shares of the company’s stock, valued at $61,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew A. F. Hack sold 6,895 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $21.39, for a total transaction of $147,484.05. Following the sale, the chief financial officer now owns 6,895 shares in the company, valued at $147,484.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,895 shares of company stock worth $282,244. Corporate insiders own 5.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new stake in shares of Editas Medicine during the third quarter worth approximately $9,549,000. Bank of New York Mellon Corp increased its stake in shares of Editas Medicine by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 198,851 shares of the company’s stock worth $6,327,000 after buying an additional 5,579 shares during the period. Capital Advisors Inc. OK increased its stake in shares of Editas Medicine by 11.0% during the fourth quarter. Capital Advisors Inc. OK now owns 135,035 shares of the company’s stock worth $3,072,000 after buying an additional 13,334 shares during the period. Vanguard Group Inc increased its stake in shares of Editas Medicine by 3.9% during the third quarter. Vanguard Group Inc now owns 3,729,579 shares of the company’s stock worth $118,675,000 after buying an additional 141,609 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Editas Medicine by 3.9% during the third quarter. Vanguard Group Inc. now owns 3,729,579 shares of the company’s stock worth $118,675,000 after buying an additional 141,609 shares during the period. Hedge funds and other institutional investors own 70.17% of the company’s stock.

About Editas Medicine

Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

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Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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