Editas Medicine (NASDAQ:EDIT) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Editas Medicine (NASDAQ:EDIT) from an in-line rating to an outperform rating in a research note issued to investors on Wednesday, Marketbeat.com reports.

Several other research analysts have also recently weighed in on the stock. Truist Financial lowered their price target on shares of Editas Medicine from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday. Raymond James lowered shares of Editas Medicine from an “outperform” rating to a “market perform” rating in a research report on Monday, November 4th. Stifel Nicolaus reduced their price target on shares of Editas Medicine from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday. Wells Fargo & Company cut their target price on shares of Editas Medicine from $9.00 to $7.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Chardan Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of Editas Medicine in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Editas Medicine currently has a consensus rating of “Hold” and a consensus target price of $9.08.

Editas Medicine Stock Down 1.6 %

Editas Medicine stock traded down $0.05 during trading hours on Wednesday, hitting $3.12. The company had a trading volume of 1,653,037 shares, compared to its average volume of 2,182,523. Editas Medicine has a one year low of $2.70 and a one year high of $11.69. The firm has a 50-day moving average of $3.39 and a 200 day moving average of $4.47.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, meeting the consensus estimate of ($0.75). The firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $3.93 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The business’s revenue was down 98.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.55) EPS. As a group, analysts expect that Editas Medicine will post -2.9 EPS for the current year.

Institutional Trading of Editas Medicine

Several hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new stake in Editas Medicine during the 3rd quarter worth approximately $98,000. Jennison Associates LLC raised its holdings in Editas Medicine by 90.4% during the 3rd quarter. Jennison Associates LLC now owns 237,745 shares of the company’s stock valued at $811,000 after buying an additional 112,857 shares during the last quarter. Drive Wealth Management LLC bought a new stake in Editas Medicine during the 3rd quarter valued at $65,000. GSA Capital Partners LLP raised its holdings in Editas Medicine by 89.0% in the 3rd quarter. GSA Capital Partners LLP now owns 182,725 shares of the company’s stock worth $623,000 after purchasing an additional 86,020 shares in the last quarter. Finally, Arcadia Investment Management Corp MI bought a new position in shares of Editas Medicine in the 3rd quarter worth about $39,000. Institutional investors own 71.90% of the company’s stock.

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.