Shares of Editas Medicine Inc. (NASDAQ:EDIT) dropped 2.9% during trading on Wednesday . The stock traded as low as $19.50 and last traded at $19.55, with a volume of 239,090 shares traded. The stock had previously closed at $20.13.

EDIT has been the subject of several recent analyst reports. Vetr upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $32.50 target price for the company in a research note on Monday, May 9th. Cowen and Company restated a “buy” rating on shares of Editas Medicine in a research note on Monday, May 16th. Zacks Investment Research cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. Finally, Jefferies Group initiated coverage on shares of Editas Medicine in a research note on Thursday, June 2nd. They issued a “hold” rating and a $35.00 target price for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Editas Medicine currently has an average rating of “Buy” and an average price target of $33.50.

The company’s 50 day moving average is $23.70 and its 200 day moving average is $29.21. The company’s market capitalization is $649.66 million.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.54) earnings per share for the quarter, hitting the consensus estimate of ($0.54). On average, equities analysts forecast that Editas Medicine Inc. will post ($2.59) EPS 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.

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.