Weekly Research Analysts’ Ratings Changes for Editas Medicine (EDIT)

A number of firms have modified their ratings and price targets on shares of Editas Medicine (NASDAQ: EDIT) recently:

• 11/6/2024 – Editas Medicine was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating.
• 11/5/2024 – Editas Medicine had its price target lowered by analysts at Royal Bank of Canada from $8.00 to $5.00. They now have a “sector perform” rating on the stock.
• 11/5/2024 – Editas Medicine had its price target lowered by analysts at Wells Fargo & Company from $9.00 to $7.00. They now have an “overweight” rating on the stock.
• 11/5/2024 – Editas Medicine had its price target lowered by analysts at Barclays PLC from $7.00 to $5.00. They now have an “equal weight” rating on the stock.
• 11/5/2024 – Editas Medicine had its “buy” rating reaffirmed by analysts at Chardan Capital. They now have a $12.00 price target on the stock.
• 11/5/2024 – Editas Medicine had its price target lowered by analysts at Stifel Nicolaus from $17.00 to $11.00. They now have a “buy” rating on the stock.
• 11/5/2024 – Editas Medicine had its price target lowered by analysts at Truist Financial Co. from $12.00 to $8.00. They now have a “buy” rating on the stock.
• 11/4/2024 – Editas Medicine was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
• 10/23/2024 – Editas Medicine had its price target lowered by analysts at Wells Fargo & Company from $27.00 to $9.00. They now have an “overweight” rating on the stock.
• 10/23/2024 – Editas Medicine had its price target lowered by analysts at Evercore ISI from $7.00 to $3.00. They now have an “in-line” rating on the stock.
• 10/22/2024 – Editas Medicine had its price target lowered by analysts at Chardan Capital from $20.00 to $12.00. They now have a “buy” rating on the stock.

Editas Medicine Stock Down 5.3 %

Shares of NASDAQ:EDIT opened at $2.52 on Tuesday. Editas Medicine, Inc. has a 12-month low of $2.51 and a 12-month high of $11.69. The firm has a fifty day moving average of $3.33 and a two-hundred day moving average of $4.38. The firm has a market capitalization of $208.02 million, a P/E ratio of -0.98 and a beta of 2.01.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.75) earnings per share (EPS) for the quarter, meeting 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 business had revenue of $0.06 million during the quarter, compared to analyst estimates of $3.93 million. During the same quarter in the previous year, the business earned ($0.55) EPS. Editas Medicine’s quarterly revenue was down 98.9% compared to the same quarter last year. Equities research analysts expect that Editas Medicine, Inc. will post -2.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC lifted its stake in shares of Editas Medicine by 494.8% in the 3rd quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock valued at $32,000 after purchasing an additional 7,758 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Editas Medicine in the 3rd quarter valued at $36,000. Arcadia Investment Management Corp MI bought a new position in Editas Medicine in the 3rd quarter worth $39,000. Koss Olinger Consulting LLC bought a new position in Editas Medicine in the 2nd quarter worth $47,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Editas Medicine in the 3rd quarter worth $47,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

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.