Editas Medicine (EDIT) Given Hold Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their hold rating on shares of Editas Medicine (NASDAQ:EDIT) in a research report sent to investors on Thursday morning.

Other equities research analysts have also issued research reports about the company. BidaskClub raised Editas Medicine from a hold rating to a buy rating in a research report on Tuesday, December 4th. Zacks Investment Research raised Editas Medicine from a hold rating to a buy rating and set a $32.00 target price on the stock in a research report on Tuesday, November 13th. SunTrust Banks restated a buy rating on shares of Editas Medicine in a research note on Monday, December 31st. ValuEngine downgraded Editas Medicine from a buy rating to a hold rating in a research note on Friday, December 21st. Finally, Guggenheim began coverage on Editas Medicine in a research note on Tuesday, October 9th. They set a neutral rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $45.50.

Shares of NASDAQ EDIT traded down $0.21 during midday trading on Thursday, hitting $26.20. 448,088 shares of the company’s stock were exchanged, compared to its average volume of 907,224. The company has a debt-to-equity ratio of 0.15, a quick ratio of 13.13 and a current ratio of 13.14. Editas Medicine has a twelve month low of $17.80 and a twelve month high of $45.02. The firm has a market capitalization of $1.26 billion, a PE ratio of -8.79 and a beta of 3.07.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, November 7th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.40. Editas Medicine had a negative return on equity of 53.15% and a negative net margin of 410.68%. The business had revenue of $14.52 million for the quarter, compared to analyst estimates of $9.83 million. During the same quarter last year, the company earned ($0.64) EPS. The business’s quarterly revenue was up 131.2% on a year-over-year basis. On average, sell-side analysts forecast that Editas Medicine will post -2.18 earnings per share for the current fiscal year.

In related news, CFO Andrew A. F. Hack sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $22.48, for a total transaction of $157,360.00. Following the transaction, the chief financial officer now owns 7,000 shares in the company, valued at approximately $157,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Katrine Bosley sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $25.27, for a total value of $303,240.00. Following the transaction, the chief executive officer now owns 1,204,966 shares in the company, valued at approximately $30,449,490.82. The disclosure for this sale can be found here. Insiders have sold a total of 69,284 shares of company stock worth $1,886,175 in the last 90 days. 5.20% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in EDIT. Ancora Advisors LLC purchased a new position in Editas Medicine during the 3rd quarter worth approximately $127,000. TRUE Private Wealth Advisors purchased a new position in shares of Editas Medicine in the 3rd quarter valued at approximately $137,000. Edge Wealth Management LLC purchased a new position in shares of Editas Medicine in the 4th quarter valued at approximately $160,000. HBK Sorce Advisory LLC purchased a new position in shares of Editas Medicine in the 3rd quarter valued at approximately $203,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Editas Medicine by 7,045.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,931 shares of the company’s stock valued at $221,000 after purchasing an additional 6,834 shares during the last quarter. Hedge funds and other institutional investors own 68.76% of the company’s stock.

Editas Medicine Company Profile

Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

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Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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