Editas Medicine Inc. (EDIT) Shares Up 3.7%
Editas Medicine Inc. (NASDAQ:EDIT)’s share price shot up 3.7% during mid-day trading on Wednesday . The company traded as high as $28.24 and last traded at $28.08, with a volume of 58,440 shares changing hands. The stock had previously closed at $27.08.
A number of brokerages have recently issued reports on EDIT. Zacks Investment Research upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Cowen and Company restated a “buy” rating on shares of Editas Medicine in a research note on Monday, May 16th. Jefferies Group restated a “hold” rating and issued a $35.00 price objective on shares of Editas Medicine in a research note on Friday, June 10th. Finally, Vetr upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $32.50 price objective for the company in a research note on Monday, May 9th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.50.
The stock’s market capitalization is $992.75 million. The stock has a 50 day moving average price of $27.35 and a 200 day moving average price of $30.22.
Editas Medicine (NASDAQ:EDIT) last released its earnings results on Monday, May 16th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.30) by $0.50. The company had revenue of $0.80 million for the quarter, compared to analyst estimates of $1.08 million. On average, equities analysts expect that Editas Medicine Inc. will post ($2.35) earnings per share for the current fiscal year.
Editas Medicine, Inc, formerly Gengine, Inc, is a genome editing company. The Company is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR)/CRISPR associated protein 9 (Cas9) technology.
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