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

EDIT has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Monday, August 15th. 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 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 note on Monday, May 9th. Finally, Cowen and Company reissued a “buy” rating on shares of Editas Medicine in a research note on Monday, May 16th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $33.50.

The company has a 50-day moving average of $23.50 and a 200-day moving average of $29.13. The company’s market cap is $630.90 million.

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