Robert W. Baird Lowers Editas Medicine (NASDAQ:EDIT) Price Target to $4.00

Editas Medicine (NASDAQ:EDIT) had its price objective trimmed by Robert W. Baird from $8.00 to $4.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also recently issued reports on EDIT. Cantor Fitzgerald raised shares of Editas Medicine from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 29th. HC Wainwright assumed coverage on shares of Editas Medicine in a research note on Monday, April 28th. They set a “buy” rating and a $3.00 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Editas Medicine presently has a consensus rating of “Hold” and a consensus target price of $5.36.

Editas Medicine Trading Up 1.1%

Shares of NASDAQ EDIT opened at $1.40 on Tuesday. Editas Medicine has a 12 month low of $0.91 and a 12 month high of $6.22. The firm has a market capitalization of $116.78 million, a PE ratio of -0.54 and a beta of 2.15. The firm has a fifty day simple moving average of $1.35 and a two-hundred day simple moving average of $1.67.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.08. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The company had revenue of $4.66 million during the quarter, compared to analysts’ expectations of $0.79 million. During the same period last year, the company posted ($76.00) EPS. On average, sell-side analysts predict that Editas Medicine will post -2.71 earnings per share for the current year.

Hedge Funds Weigh In On Editas Medicine

Institutional investors and hedge funds have recently made changes to their positions in the business. Ieq Capital LLC purchased a new position in shares of Editas Medicine in the fourth quarter worth approximately $31,000. Thrive Wealth Management LLC purchased a new position in shares of Editas Medicine in the fourth quarter worth approximately $36,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Editas Medicine by 45.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,781 shares of the company’s stock worth $40,000 after buying an additional 11,252 shares during the last quarter. Brave Asset Management Inc. boosted its holdings in shares of Editas Medicine by 250.0% in the first quarter. Brave Asset Management Inc. now owns 35,000 shares of the company’s stock worth $41,000 after buying an additional 25,000 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its holdings in shares of Editas Medicine by 66.9% in the fourth quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company’s stock worth $42,000 after buying an additional 13,138 shares during the last quarter. Hedge funds and other institutional investors 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.