Stock Traders Buy High Volume of Call Options on Editas Medicine (NASDAQ:EDIT)

Editas Medicine, Inc. (NASDAQ:EDIT) was the target of some unusual options trading on Wednesday. Stock traders acquired 2,160 call options on the stock. This is an increase of 245% compared to the average volume of 626 call options.

Trending Headlines about Editas Medicine

Here are the key news stories impacting Editas Medicine this week:

• Positive Sentiment: EDIT-401 showed strong preclinical activity, with a single dose producing about 90% or greater reductions in LDL-C, Lp(a), and ApoB in non-human primates. The company said the data support its LDLR-upregulation approach and that it remains on track to begin a first-in-human study later this year, with early human proof-of-concept data expected by the end of 2026. Article Title
• Positive Sentiment: Editas also received positive pre-IND feedback from the FDA on its nonclinical package, CMC plans, and study design for EDIT-401, which helps de-risk the program’s next regulatory steps. Article Title
• Neutral Sentiment: HC Wainwright reiterated its FY2027 outlook for Editas, estimating a loss of $1.15 per share, versus consensus full-year estimates of a loss of $1.07 per share. That is unlikely to materially change the stock on its own, but it reinforces that the company is still expected to remain deeply unprofitable. Article Title
• Negative Sentiment: The biggest drag is a proposed public offering of up to $319.4 million, including 55.6 million shares and warrants. Equity dilution from the financing likely weighed on shares even though the capital could extend Editas’s runway. Article Title

Editas Medicine Stock Up 22.4%

Shares of EDIT stock traded up $0.69 during mid-day trading on Wednesday, reaching $3.77. 5,467,623 shares of the stock traded hands, compared to its average volume of 1,692,140. Editas Medicine has a 1-year low of $1.60 and a 1-year high of $4.54. The company has a market cap of $369.11 million, a price-to-earnings ratio of -3.09 and a beta of 2.14. The stock’s fifty day simple moving average is $2.81 and its two-hundred day simple moving average is $2.42.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. The business had revenue of $2.83 million during the quarter, compared to the consensus estimate of $6.37 million. Editas Medicine had a negative return on equity of 677.39% and a negative net margin of 281.59%. On average, equities research analysts anticipate that Editas Medicine will post -1.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on EDIT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Editas Medicine in a research note on Monday, April 20th. Robert W. Baird set a $6.00 price objective on shares of Editas Medicine in a research report on Monday, March 9th. TD Cowen reissued a “buy” rating on shares of Editas Medicine in a research note on Monday, March 9th. JonesTrading upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Tuesday, March 10th. Finally, Chardan Capital boosted their target price on shares of Editas Medicine from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.40.

Hedge Funds Weigh In On Editas Medicine

Hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors bought a new stake in Editas Medicine in the second quarter valued at approximately $26,000. StoneX Group Inc. bought a new position in Editas Medicine during the 4th quarter worth approximately $33,000. Abel Hall LLC bought a new position in Editas Medicine during the 1st quarter worth approximately $36,000. Victory Capital Management Inc. acquired a new position in shares of Editas Medicine in the 3rd quarter worth approximately $36,000. Finally, State of Wyoming acquired a new position in shares of Editas Medicine in the 1st quarter worth approximately $43,000. 71.90% of the stock is currently owned by institutional investors.

Editas Medicine Company Profile

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.