Editas Medicine (EDIT) Set to Announce Quarterly Earnings on Wednesday

Editas Medicine (NASDAQ:EDIT) will be announcing its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.65) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.29. Editas Medicine had a negative net margin of 196.12% and a negative return on equity of 42.95%. The firm had revenue of $60.00 million for the quarter, compared to analysts’ expectations of $4.84 million. During the same period in the prior year, the company earned ($0.88) EPS. The firm’s revenue was up 817.4% on a year-over-year basis. On average, analysts expect Editas Medicine to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Editas Medicine Price Performance

Shares of Editas Medicine stock traded up $0.03 during mid-day trading on Tuesday, hitting $5.69. 315,242 shares of the stock were exchanged, compared to its average volume of 1,790,883. Editas Medicine has a twelve month low of $5.11 and a twelve month high of $11.91. The company has a 50-day simple moving average of $7.22 and a 200 day simple moving average of $8.27.

Analyst Ratings Changes

EDIT has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Editas Medicine from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Barclays raised their price target on shares of Editas Medicine from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Citigroup raised their price target on shares of Editas Medicine from $11.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, StockNews.com raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Editas Medicine presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Insider Buying and Selling

In related news, SVP Baisong Mei sold 20,327 shares of the firm’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 transaction, the senior vice president now owns 141,543 shares in the company, valued at $1,333,335.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Baisong Mei sold 20,327 shares of the firm’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 transaction, the senior vice president now owns 141,543 shares in the company, valued at $1,333,335.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gilmore Neil O’neill sold 77,824 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $9.42, for a total transaction of $733,102.08. Following the completion of the transaction, the chief executive officer now owns 327,470 shares in the company, valued at approximately $3,084,767.40. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

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.