Editas Medicine Inc. (NASDAQ:EDIT) shares dropped 5.4% during trading on Friday . The stock traded as low as $25.59 and last traded at $25.82, with a volume of 160,358 shares. The stock had previously closed at $27.28.

EDIT has been the subject of several analyst reports. Vetr raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $32.50 price objective for the company in a report on Monday, May 9th. Cowen and Company reaffirmed a “buy” rating on shares of Editas Medicine in a report on Monday, May 16th. Zacks Investment Research downgraded shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Wednesday, May 18th. Finally, Jefferies Group started coverage on shares of Editas Medicine in a report on Thursday, June 2nd. They issued a “hold” rating and a $35.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $33.50.

The company’s 50-day moving average is $26.80 and its 200 day moving average is $30.14. The stock’s market capitalization is $905.45 million.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Monday, May 16th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by $0.50. The business had revenue of $0.80 million for the quarter, compared to analyst estimates of $1.08 million. On average, analysts anticipate that Editas Medicine Inc. will post ($2.35) earnings per share for the current 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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