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

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $15.00.

Several equities research analysts recently commented on EDIT shares. Barclays lifted their price objective on Editas Medicine from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. StockNews.com upgraded Editas Medicine from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Citigroup lifted their price objective on Editas Medicine from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their price target on Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th.

Editas Medicine Price Performance

Shares of NASDAQ:EDIT opened at $5.46 on Friday. Editas Medicine has a 1-year low of $5.28 and a 1-year high of $11.91. The business has a fifty day moving average price of $7.69 and a 200-day moving average price of $8.36. The company has a market capitalization of $449.03 million, a PE ratio of -2.66 and a beta of 2.02.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate 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 company had revenue of $60.00 million during the quarter, compared to the consensus estimate of $4.84 million. During the same period last year, the company earned ($0.88) EPS. Editas Medicine’s revenue for the quarter was up 817.4% on a year-over-year basis. On average, sell-side analysts anticipate that Editas Medicine will post -2.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gilmore Neil O’neill sold 77,824 shares of the company’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 completion of the transaction, the chief executive officer now owns 327,470 shares of the company’s stock, valued at $3,084,767.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gilmore Neil O’neill sold 77,824 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was 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 directly owns 327,470 shares of the company’s stock, valued at $3,084,767.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the sale, the senior vice president now directly owns 141,543 shares of the company’s stock, valued at $1,333,335.06. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EDIT. Clear Street Markets LLC purchased a new position in Editas Medicine during the 3rd quarter worth $44,000. Russell Investments Group Ltd. increased its holdings in Editas Medicine by 401.9% during the 4th quarter. Russell Investments Group Ltd. now owns 5,190 shares of the company’s stock worth $53,000 after purchasing an additional 4,156 shares during the period. Amalgamated Bank increased its holdings in Editas Medicine by 18.0% during the 3rd quarter. Amalgamated Bank now owns 8,023 shares of the company’s stock worth $63,000 after purchasing an additional 1,226 shares during the period. Independent Advisor Alliance bought a new stake in Editas Medicine during the 3rd quarter valued at $81,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in Editas Medicine by 351.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,450 shares of the company’s stock valued at $96,000 after acquiring an additional 7,355 shares in the last quarter. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

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.