Editas Medicine Inc. (EDIT) Stock Price Down 5.4%
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.