Editas Medicine, Inc. (NASDAQ:EDIT) Given Consensus Rating of “Hold” by Brokerages

Editas Medicine, Inc. (NASDAQ:EDIT) has received an average recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $12.90.

A number of equities research analysts recently weighed in on the company. Barclays decreased their price objective on 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. Citigroup decreased their price objective on Editas Medicine from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Evercore ISI reduced their target price on Editas Medicine from $15.00 to $7.00 and set an “in-line” rating on the stock in a research report on Thursday, May 30th. StockNews.com lowered Editas Medicine from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, Oppenheimer reaffirmed a “market perform” rating and set a $12.00 target price on shares of Editas Medicine in a research report on Tuesday, June 18th.

Insider Transactions at Editas Medicine

In other news, CEO Gilmore Neil O’neill sold 12,191 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $5.50, for a total value of $67,050.50. Following the completion of the transaction, the chief executive officer now directly owns 315,279 shares in the company, valued at $1,734,034.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Gilmore Neil O’neill sold 12,191 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $5.50, for a total value of $67,050.50. Following the completion of the transaction, the chief executive officer now directly owns 315,279 shares in the company, valued at $1,734,034.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jessica Hopfield purchased 45,000 shares of Editas Medicine stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $5.64 per share, with a total value of $253,800.00. Following the completion of the transaction, the director now owns 67,700 shares of the company’s stock, valued at approximately $381,828. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Editas Medicine by 1.1% during the first quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock valued at $63,483,000 after acquiring an additional 93,740 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Editas Medicine by 40.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,392,396 shares of the company’s stock valued at $24,236,000 after acquiring an additional 690,366 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Editas Medicine by 59.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 314,774 shares of the company’s stock valued at $2,246,000 after acquiring an additional 116,803 shares in the last quarter. International Assets Investment Management LLC raised its position 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 valued at $28,457,000 after acquiring an additional 265,812 shares in the last quarter. Finally, Trexquant Investment LP grew its holdings in Editas Medicine by 28.9% in the fourth quarter. Trexquant Investment LP now owns 241,754 shares of the company’s stock valued at $2,449,000 after purchasing an additional 54,245 shares during the period. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Editas Medicine Price Performance

Shares of NASDAQ EDIT opened at $4.91 on Friday. The stock has a market capitalization of $403.79 million, a P/E ratio of -2.34 and a beta of 2.01. Editas Medicine has a 1-year low of $4.45 and a 1-year high of $11.69. The business has a fifty day moving average price of $5.30 and a 200 day moving average price of $6.99.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.13). The company had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $11.14 million. Editas Medicine had a negative return on equity of 47.34% and a negative net margin of 239.36%. The company’s revenue for the quarter was down 88.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.71) earnings per share. As a group, equities research analysts anticipate that Editas Medicine will post -2.7 earnings per share 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.