Editas Medicine, Inc. (NASDAQ:EDIT) Receives $15.00 Average Target Price from Analysts

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $15.00.

A number of equities research analysts have issued reports on the company. Truist Financial boosted their price target on Editas Medicine from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Citigroup boosted their price target on Editas Medicine from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Barclays boosted their price target on Editas Medicine from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. StockNews.com raised Editas Medicine from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Editas Medicine from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th.

Editas Medicine Stock Down 0.3 %

Shares of NASDAQ:EDIT opened at $7.42 on Wednesday. The company has a market cap of $607.03 million, a P/E ratio of -3.62 and a beta of 2.06. Editas Medicine has a 52 week low of $6.08 and a 52 week high of $11.91. The business has a fifty day simple moving average of $8.09 and a 200-day simple moving average of $8.51.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.29. Editas Medicine had a negative return on equity of 42.95% and a negative net margin of 196.12%. The firm had revenue of $60.00 million during the quarter, compared to the consensus estimate of $4.84 million. During the same quarter in the previous year, the business earned ($0.88) earnings per share. The firm’s quarterly revenue was up 817.4% compared to the same quarter last year. Sell-side analysts expect that Editas Medicine will post -2.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gilmore Neil O’neill sold 77,824 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total value of $733,102.08. Following the transaction, the chief executive officer now owns 327,470 shares in the company, valued at $3,084,767.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Gilmore Neil O’neill sold 77,824 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total value of $733,102.08. Following the transaction, the chief executive officer now owns 327,470 shares in the company, valued at $3,084,767.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Baisong Mei sold 20,327 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $9.42, for a total value of $191,480.34. Following the sale, the senior vice president now owns 141,543 shares in the company, valued at approximately $1,333,335.06. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Institutional Trading of Editas Medicine

Several institutional investors and hedge funds have recently bought and sold shares of EDIT. Covestor Ltd raised its stake in Editas Medicine by 9,693.3% during the first quarter. Covestor Ltd now owns 1,469 shares of the company’s stock valued at $28,000 after buying an additional 1,454 shares in the last quarter. Lazard Asset Management LLC raised its stake in Editas Medicine by 81.4% during the third quarter. Lazard Asset Management LLC now owns 4,595 shares of the company’s stock valued at $35,000 after buying an additional 2,062 shares in the last quarter. Clear Street Markets LLC bought a new position in shares of Editas Medicine during the third quarter valued at approximately $44,000. Quantbot Technologies LP bought a new position in shares of Editas Medicine during the first quarter valued at approximately $44,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Editas Medicine by 401.9% during the fourth quarter. Russell Investments Group Ltd. now owns 5,190 shares of the company’s stock valued at $53,000 after purchasing an additional 4,156 shares during the last quarter. Institutional investors and hedge funds 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.