Editas Medicine Inc. (EDIT) Stock Price Down 5.4%
Shares of Editas Medicine Inc. (NASDAQ:EDIT) dropped 5.4% on Friday . The stock traded as low as $25.59 and last traded at $25.82, with a volume of 160,358 shares traded. The stock had previously closed at $27.28.
EDIT has been the topic of several research analyst reports. Jefferies Group initiated coverage on shares of Editas Medicine in a research report on Thursday, June 2nd. They set a “hold” rating and a $35.00 target price on the stock. Vetr raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $32.50 target price on the stock in a research report on Monday, May 9th. Zacks Investment Research raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Wednesday, June 1st. Finally, Cowen and Company reissued a “buy” rating on shares of Editas Medicine in a research report on Monday, May 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Editas Medicine currently has an average rating of “Hold” and a consensus price target of $33.50.
The firm’s market cap is $905.45 million. The company’s 50 day moving average is $26.80 and its 200-day moving average is $30.14.
Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Monday, May 16th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.50. The firm had revenue of $0.80 million for the quarter, compared to analyst estimates of $1.08 million. On average, analysts predict 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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