Editas Medicine (NASDAQ:EDIT) Receives “Neutral” Rating from Chardan Capital

Editas Medicine (NASDAQ:EDIT)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Chardan Capital in a research note issued on Friday.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company cut shares of Editas Medicine from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $7.00 to $4.00 in a research report on Wednesday. Evercore ISI upgraded Editas Medicine from an “in-line” rating to an “outperform” rating in a report on Wednesday, November 6th. Royal Bank of Canada cut their target price on Editas Medicine from $8.00 to $5.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 5th. Truist Financial downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Bank of America downgraded shares of Editas Medicine from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $13.00 to $1.00 in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.08.

Editas Medicine Price Performance

Shares of Editas Medicine stock opened at $1.89 on Friday. The firm has a market cap of $156.02 million, a price-to-earnings ratio of -0.74 and a beta of 1.86. The stock’s 50-day moving average is $2.80 and its 200 day moving average is $3.94. Editas Medicine has a one year low of $1.86 and a one year high of $11.58.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.75) EPS for the quarter, hitting the consensus estimate of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The company had revenue of $0.06 million during the quarter, compared to the consensus estimate of $3.93 million. During the same quarter last year, the firm posted ($0.55) EPS. The company’s quarterly revenue was down 98.9% on a year-over-year basis. On average, sell-side analysts expect that Editas Medicine will post -2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

Several large investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Editas Medicine by 46.9% in the 3rd quarter. Barclays PLC now owns 178,507 shares of the company’s stock worth $607,000 after buying an additional 56,986 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Editas Medicine by 172.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 33,203 shares of the company’s stock valued at $113,000 after acquiring an additional 21,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Editas Medicine during the 3rd quarter worth approximately $47,000. XTX Topco Ltd bought a new stake in shares of Editas Medicine in the 3rd quarter worth approximately $179,000. Finally, Stifel Financial Corp lifted its stake in Editas Medicine by 37.9% in the third quarter. Stifel Financial Corp now owns 624,876 shares of the company’s stock valued at $2,131,000 after purchasing an additional 171,656 shares during the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.

About Editas Medicine

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.