Editas Medicine, Inc. (NASDAQ:EDIT) Receives $13.90 Consensus Price Target from Brokerages

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have been given an average rating of “Moderate Buy” by the ten research firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $13.90.

A number of research firms recently commented on EDIT. JPMorgan Chase & Co. increased their price target on Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Citigroup lowered their price target on Editas Medicine from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Morgan Stanley raised Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 target price for the company in a research report on Thursday, May 9th. StockNews.com lowered Editas Medicine from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, Barclays decreased their target price on Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th.

Editas Medicine Stock Up 9.3 %

Shares of NASDAQ:EDIT opened at $6.02 on Thursday. Editas Medicine has a twelve month low of $4.91 and a twelve month high of $11.91. The stock’s 50 day moving average is $6.36 and its 200-day moving average is $8.18. The firm has a market capitalization of $495.08 million, a price-to-earnings ratio of -2.87 and a beta of 2.09.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.13). The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $11.14 million. Editas Medicine had a negative net margin of 239.36% and a negative return on equity of 47.34%. The company’s quarterly revenue was down 88.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.71) earnings per share. Equities research analysts anticipate that Editas Medicine will post -2.67 earnings per share for the current fiscal year.

Insider Transactions at Editas Medicine

In other news, Director Jessica Hopfield purchased 45,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $5.64 per share, for a total transaction of $253,800.00. Following the purchase, the director now owns 67,700 shares of the company’s stock, valued at $381,828. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Editas Medicine news, SVP Baisong Mei sold 20,327 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $9.42, for a total value of $191,480.34. Following the completion of the transaction, the senior vice president now owns 141,543 shares in the company, valued at approximately $1,333,335.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jessica Hopfield bought 45,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was bought at an average price of $5.64 per share, with a total value of $253,800.00. Following the purchase, the director now owns 67,700 shares in the company, valued at $381,828. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EDIT. Clear Street Markets LLC bought a new position in Editas Medicine in the 3rd quarter worth about $44,000. Russell Investments Group Ltd. boosted its position in shares of Editas Medicine by 401.9% during the 4th quarter. Russell Investments Group Ltd. now owns 5,190 shares of the company’s stock valued at $53,000 after acquiring an additional 4,156 shares during the last quarter. Amalgamated Bank boosted its position in shares of Editas Medicine by 18.0% during the 3rd quarter. Amalgamated Bank now owns 8,023 shares of the company’s stock valued at $63,000 after acquiring an additional 1,226 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Editas Medicine by 481.7% during the 1st quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock valued at $70,000 after acquiring an additional 7,861 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Editas Medicine during the 1st quarter valued at about $72,000. 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.