Editas Medicine Inc. (NASDAQ:EDIT) dropped 6.8% on Monday . The company traded as low as $23.10 and last traded at $23.17, with a volume of 75,943 shares changing hands. The stock had previously closed at $24.87.

EDIT has been the topic of a number of research analyst reports. Cowen and Company reissued a “buy” rating on shares of Editas Medicine in a report on Monday, May 16th. Vetr raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $32.50 price objective on the stock in a report on Monday, May 9th. Zacks Investment Research raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. Finally, Jefferies Group reissued a “hold” rating and set a $35.00 price objective on shares of Editas Medicine in a report on Friday, June 10th. Four 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 $834.33 million. The company’s 50 day moving average is $25.96 and its 200-day moving average is $29.94.

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