Editas Medicine (NASDAQ:EDIT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Editas Medicine (NASDAQ:EDIT) from a sell rating to a hold rating in a research report report published on Friday.

A number of other equities research analysts have also recently issued reports on EDIT. Robert W. Baird boosted their price objective on Editas Medicine from $4.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, August 13th. Wells Fargo & Company boosted their price target on Editas Medicine from $3.00 to $4.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Editas Medicine in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.10.

Editas Medicine Price Performance

EDIT stock opened at $3.24 on Friday. Editas Medicine has a one year low of $0.91 and a one year high of $3.80. The stock has a market cap of $291.34 million, a price-to-earnings ratio of -1.14 and a beta of 2.16. The company has a fifty day moving average price of $2.77 and a two-hundred day moving average price of $2.11.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Tuesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.22). Editas Medicine had a negative return on equity of 200.25% and a negative net margin of 608.88%.The company had revenue of $3.58 million for the quarter, compared to analyst estimates of $1.81 million. Research analysts anticipate that Editas Medicine will post -2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors bought a new stake in Editas Medicine during the second quarter worth about $26,000. R Squared Ltd acquired a new position in shares of Editas Medicine in the 2nd quarter valued at approximately $45,000. Savant Capital LLC lifted its holdings in shares of Editas Medicine by 143.4% during the 2nd quarter. Savant Capital LLC now owns 31,560 shares of the company’s stock worth $69,000 after acquiring an additional 18,593 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Editas Medicine by 279.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 31,938 shares of the company’s stock worth $70,000 after acquiring an additional 23,513 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Editas Medicine in the second quarter valued at approximately $70,000. 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.