Editas Medicine (NASDAQ:EDIT) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Editas Medicine, Inc. (NASDAQ:EDIT)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.14 and traded as low as $1.67. Editas Medicine shares last traded at $1.68, with a volume of 1,546,484 shares.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EDIT. Weiss Ratings restated a “sell (e+)” rating on shares of Editas Medicine in a report on Wednesday, January 21st. Chardan Capital upgraded shares of Editas Medicine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Editas Medicine Stock Up 4.8%

The business’s 50 day simple moving average is $2.13 and its 200 day simple moving average is $2.64. The stock has a market cap of $171.81 million, a price-to-earnings ratio of -0.74 and a beta of 2.15.

Institutional Trading of Editas Medicine

Several institutional investors and hedge funds have recently bought and sold shares of EDIT. International Assets Investment Management LLC acquired a new stake in Editas Medicine during the 2nd quarter valued at $70,000. R Squared Ltd bought a new position in shares of Editas Medicine in the second quarter valued at about $45,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Editas Medicine by 55.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 41,366 shares of the company’s stock worth $91,000 after buying an additional 14,765 shares during the last quarter. StoneX Group Inc. acquired a new stake in shares of Editas Medicine during the 4th quarter worth about $33,000. Finally, Captrust Financial Advisors acquired a new position in Editas Medicine in the 2nd quarter valued at about $26,000. Institutional investors own 71.90% of the company’s stock.

About Editas Medicine

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and ?-thalassemia using an ex vivo editing approach.