Editas Medicine Inc. (EDIT) Shares Down 3.2%
Editas Medicine Inc. (NASDAQ:EDIT)’s share price dropped 3.2% during trading on Friday . The company traded as low as $24.64 and last traded at $24.79, with a volume of 104,534 shares traded. The stock had previously closed at $25.62.
EDIT has been the subject of a number of analyst reports. Vetr raised Editas Medicine from a “hold” rating to a “buy” rating and set a $32.50 price target for the company in a report on Monday, May 9th. Zacks Investment Research lowered Editas Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. Jefferies Group reissued a “hold” rating and set a $35.00 price objective on shares of Editas Medicine in a research note on Friday, June 10th. Finally, Cowen and Company reissued a “buy” rating on shares of Editas Medicine in a research note on Monday, May 16th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $33.50.
The company’s market capitalization is $891.37 million. The company’s 50-day moving average is $30.67 and its 200-day moving average is $30.78.
Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Monday, May 16th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.30) by $0.50. The company had revenue of $0.80 million for the quarter, compared to analysts’ expectations of $1.08 million. On average, analysts forecast 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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